An artificial intelligence platform that integrates with key industry utilities and keeps critical data at lending professionals' fingertips was selected as the top fintech demo by attendees of the 2018 Digital Mortgage Conference.
Jane.ai was awarded the People's Choice Best in Show Award in recognition of being the most popular technology among the nearly three dozen live demonstrations of mortgage fintech products during the two-day conference, presented by National Mortgage News in Las Vegas Sept. 17-18.
After each round of demos, attendees voted for their favorite product on the conference's mobile app. The finalists — Awesome Technologies, Black Knight, Jane.ai, Notarize and Spruce — received the most votes from their respective rounds of demos. Attendees then voted for their favorite finalist for the People's Choice Best in Show Award.
Jane is integrated with technologies like Ellie Mae's Encompass and AllRegs platforms, as well as instant message tools like Skype and Slack, so team members can ask Jane for information, like a client loan number or property restrictions.
The tool also incorporates ticketing, email, calendar and cloud drives, and communicates with human colleagues to learn and share tribal knowledge like industry acronyms or where coffee filters are stored, according to the company. Jane also gets smarter with time, the company said.
In addition to the People's Choice Best in Show Award, the demos were judged by a panel of industry experts. Think mortgage tech meets American Idol — minus all the singing.
LendingTree's Bruce Cook, Julian Hebron of The Basis Point and Kathleen Robinson from Winchester Management Consultants gave each demo a score between 1-10, reflecting their views of the product's demand and market potential, degree of innovation and showmanship of the demo.
The judges' scores were tallied to determine the winner and runner up of the LendingTree Innovation Challenge. The winner, remote notary public platform Notarize, received a $10,000 cash award from LendingTree, while Jane.ai and Black Knight tied for runner up and were awarded a $2,500 credit toward a sponsorship at next year's Digital Mortgage Conference by National Mortgage News.
The Notarize for Mortgage product enables an entirely digital mortgage closing where participants do not have to physically be in the same place to finalize the transaction. The technology brings together borrowers, lenders and title agents on one central platform. The tool processes signature-only files, alongside documents requiring notarization in order to close.
Black Knight's LoanSphere Servicing Digital technology offers self-service capabilities for servicers and their borrowers. Customers can make payments, receive notifications about loan changes, and view home value estimates and information on recent home sales in their area. The tool aims to support servicers' borrower retention efforts by building better and more engaging customer relationships.
