CoreLogic, the property analytics firm, revealed on 26th August that it had signed a contract with Intercontinental Exchange.
The deal is made to combine and automate Corelogic's main offerings on ICE's platform, allowing creditors to work more efficiently.
CoreLogic will upgrade necessary data-driven procedures and make such systems accessible to many shared customers on the ICE Mortgage Software system through the Encompass Partner Connect.
Encompass is a cloud-native, third-party-services interface that allows service providers to deliver their items/solutions to lending institutions on the ICE Mortgage Technology Virtual Credit Platform in a smooth manner.
As per the sources, this revitalization effort will allow ICE clients to automate the purchase of CoreLogic solutions seamlessly via Encompass' process automation.
ICE will be providing application programming interfaces for Corelogic services. Thus, lenders can set up service provisioning via any of the ICE products, such as TPO Connect, Consumer Connect, as well as other platforms. On the ICE Loan Software System, these automation features will be expanded to include title offerings, forgery and risk management, revenue assessment, lender confirmation solutions, credit scores, valuations, etc. This will allow a completely simplified and automated work process.
CoreLogic's Mike Mitchell states that the consumer-first engagement between these two firms proceeds to enhance. He conveys that shared customers can take advantage of new capabilities by upgrading their core solutions' interaction on the ICE framework through Encompass. Such features include a better customer experience, information execution, and electronic service allocation. This partnership benefits clients of both entities by providing exposure to tomorrow's service ordering and fulfillment for mortgage brokers and their debtors.
On the contrary, ICE's Parvesh Sahi remarks that this collaboration is a mutual priority with CoreLogic. He claims that ICE's spotlight is on mechanizing work processes, both for the end-user and their clientele, as they assist them in reducing their total cost of creating or obtaining a mortgage. And this deal will expand their services. By standardizing the procurement of CoreLogic's extensive range of services on the ICE platform, he and his team will make it convenient for the people to initiate or obtain more debts at lower prices and in less time frame.
About Intercontinental Exchange:
ICE is a Fortune 500 firm that creates, maintains, and manages electronic channels that link people with opportunities. They provide goal-oriented workflow technologies that promote visibility and functional advantages to their clients through monetary technology and data offerings spanning paramount asset classes.
They run marketplaces and clearinghouses that enable consumers to trade, raise cash, and control risks across different types of assets, such as the New York Stock Exchange. Its extensive fixed income data solutions and execution capabilities supply info, insights, and systems that enable its clients to take advantage of opportunities and run their businesses more profitably. ICE has a market capitalization of 68.21 billion on NYSE.
CoreLogic provides unrivaled insights into the real estate market. It gives users access to the state's most significant estate and title dataset. All through the housing process, CoreLogic customizes, links, and creatively improves property data with meaningful insights.