It’s CU 2.0 Fintech Friday! Today, Chris Otey sits down with elphi to discuss all things credit union, fintech, and digital innovation.
Mortgages are way more complicated than they should be. Well, maybe that’s not exactly accurate—they’re massive loans that often exceed six figures. They fund the largest purchases in most people’s lives. So, they’re a pretty big deal.
But yeah, they’re still very complicated. And one of the drawbacks of that complexity is that mortgage applications take a very long time. Like, too long.
elphi is trying to change that.
Using Corda distributed ledger technology (DLT) from R3, they’re streamlining the entire mortgage lifecycle. From origination to securitization, elphi cuts down on tedious communications that drag out the process and increase rates.
Basically, elphi has created a secure, compliant new approach to mortgages. Faster application, approval, and origination. Better terms. It’s SaaS, but we can get on board with that.
If this sounds like an intriguing credit union–fintech partnership, check out the video and elphi snapshot below!
Credit Union Fintech Snapshot: elphi
Top 3 Problems Solved
- Mortgage application
- Mortgage underwriting
- Mortgage securitization
elphi Founder: Eilon Shalev
elphi Market Strategy
Credit Union Fintech: elphi in the News
Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.
Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.
If you want to learn more about credit union–fintech partnerships, click here.