Technology

Mike Cagney, the fintech's CEO, said Tuesday the project came about in reaction to an industry need for a private capital market.

The firm says the product can save companies in excess of 30% of their existing cost structure.

Some of the lender's servicing systems continue to be shutdown as of Wednesday.

In light of the shift over the past few years, most companies in the space have refocused on their long-term strategy, which includes optimizing technology infrastructure and providing a superior customer experience, write leaders from SimpleNexus and nCino.

The fintech rolled out a Lending-as-a-Service (LaaS) platform, which gives lenders access to its system. The first mortgage shop to sign up is Guaranteed Rate.

The newly merged ICE Mortgage Technology entered into agreements with two companies this week to facilitate closings and income verification.

Some of the lender and servicer's systems are offline following the attack on Oct. 31.

While the addition of Black Knight is already paying off in terms of cross-sell success, the unit has posted operating losses in five of the last six quarters.

The Toronto-based company is looking at local and international expansion, CEO Shubha Dasgupta said.

Incorporating an artificial intelligence chatbot into its internal search engine tool is part of a "bigger narrative" that will unfold in months to come, the company's chief information officer said.