Finastra enhances mortgage lending with Data Insights 2.0

By Milan Rojan

Finastra has launched Data Insights 2.0, an analytics tool designed to help mortgage lenders turn more applications into funded loans by spotting where borrowers abandon the process. The FinTech firm has made the solution available for Originate Mortgagebot, targeting banks and credit unions that want clearer visibility over lending performance.

The product has given lenders a detailed view of how applicants move through the mortgage journey and where delays, confusion or slow response times have caused them to leave. Finastra has said the tool has replaced fragmented reporting with a single view of performance, so teams can compare results against peers and act on weak points faster.

“We knew we were losing applicants at specific points in our process, but we couldn’t figure out why,” said Brenda Stoerkel, Vice President, Mortgage Production Manager at United Bank. “Data Insights showed us exactly where the process was breaking down. By fixing our mobile experience, and adjusting our communication timing, we saw our completion rates improve.”

It has also used anonymised data from more than 1,000 mortgage originators to provide benchmarking against the wider market. That has allowed lenders to assess conversion rates, application exit points, borrower demographics, credit score distributions, loan-to-value ratios and underwriting data from the point of sale.

Finastra has said the tool has also offered drill-down and export functions, giving lending teams more control over how they investigate issues and measure improvements. It has highlighted geographic heat maps and submission timing analysis as part of the dashboard, helping lenders see where friction has built up across channels.

Rick Foresta, Chief Product Officer for Lending at Finastra, said, “Lenders have access to a considerable amount of data, but they need real insights to help them optimise their business. We built Data Insights 2.0 to cut through the noise. It tells you what’s actually happening in your mortgage pipeline and what you should do about it.”

The launch has reflected a wider push across financial services to use analytics more effectively in lending, as firms have sought to reduce abandonment and improve borrower experience without adding complexity.