DealmakingFintechMortgageProptech

FundMore.ai announces partnership with Filogix

Today, FundMore.ai, a mortgage underwriting software company, announced partnering with Filogix, a Finastra company, to offer an advance software suite for the Canadian mortgage lending industry, according to a press release.

FundMore.ai provides an automated Loan Origination System (LOS), which utilizes machine learning to streamline funding and improve efficiencies within the mortgage underwriting workflow.

The company says the partnership will combine FundMore’s service with Filogix’s, to give partner lenders of all sizes, brokers and the growing intermediary digital mortgage platforms an advantage in the current marketplace.

“The FundMore partnership allows us to continue supporting the digital transformation for our lending partners,” stated Filogix Vice President, Jerry L. Lo, in the release.

“For us, FundMore will not only enable us to deliver an exceptional client experience but their products and services will also enhance our competitiveness in solving for the increased demand for cutting-edge solutions to current inefficient mortgage processes,” Lo said.

The release also stated that the partnership will enable Filogix to replace its existing ‘Filogix Exchange’ and ‘Filogix Express’ products with FundMore’s award-winning AI and document management systems.

“Our award-winning platform will help Filogix exceed the digital-first expectations of lenders and consumers. Consumers continue to expect the mortgage experience to be as easy as shopping online,” said Chris Grimes, FundMore.ai Inc CEO.

“Not only that, but underwriting is now a one-day process, and lenders of all stripes should be rethinking their legacy systems for this industry paradigm shift. In this sense, our partnership with Filogix will give the Canadian market a next-generation solution that lenders are looking for,” Grimes said.

FundMore.ai has received a number of industry awards and recognitions in the past year, including a 2021 Go Global Awards Top Placer Award, being 2021 Canadian Mortgage Awards finalist, and a nomination for 2021 Best AI-Driven Automated Underwriting Software by Corporate Vision. The company also won the 2021 Canadian Proptech Innovation Award and The Next Big Thing Award by Best Ottawa Business.

In other recent proptech news, Jeff Corn discussed Diakrit‘s recent acquisition of Virtuance and the growing importance of digital assets in real estate. Dwellwell also emerged from stealth with a $12 million seed round for its property “Check Engine Light” AI sensor technology.

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