FinKube, a company that provides AI-powered Software-as-a-Service solutions for consumer lending, and LoanTek, an industry leader in mortgage pricing engine services, have combined to create industry mortgage-ware, the companies announced in a release.
"We're very pleased that LoanTek shares our philosophy as to the effective integration of Artificial Intelligence into the consumer lending business," FinKube Founder and CEO Jorge Sauri said in the release. “We must not take the human loan officer out of the equation and run the risk of leaving the borrower without a hand to hold during this complex transaction. However, we must provide the lender with every possible advantage, augmenting their offerings and extending their capabilities into the new realms where consumers are driving lenders to transaction business. This partnership accomplishes that."
LoanTek features the industry's fastest best execution and eligibility pricing engine to seamlessly deliver pricing from the front end of the consumer experience through to the secondary market. Featuring robust, mobile compliant, API's LoanTek currently serves over eight million real time offers to consumers every month creating 'best in class' consumer mortgage experiences.
“FinKube is the right solution at the right time. The rate of digital mortgage origination has tripled in the last eight years allowing consumers to acquire their mortgages faster and easier than ever before,” LoanTek CEO Adam Stein said. “The advent of AI, and the accessibility of same to industry participants, is long overdue. LoanTek is happy to facilitate the pricing engine technology required to bring this to market."