Encompass chosen after independent review of multiple competing solutions
Raymond James Bank to use ICE mortgage technology’s end-to-end digital lending platform. (Credit: StartupStockPhotos from Pixabay)
Intercontinental Exchange , Inc. (NYSE: ICE), a leading global provider of technology and data, today announced that Raymond James Bank will use the company’s Encompass end-to-end digital lending platform to support mortgage origination for high net-worth borrowers across both retail and delegated correspondent lending channels. Raymond James Bank chose the solution from ICE Mortgage Technology after an objective evaluation of multiple competing alternatives.
“Raymond James Bank undertook a comprehensive review of several competing vendor solutions before determining that Encompass was the best system to support its lending needs,” said Tim Bowler, President of ICE Mortgage Technology. “It is clear that our end-to-end ICE mortgage technology ecosystem – and our mission of creating a better experience for the American homeowner – is resonating in the marketplace.”
The bank, an affiliate of NYSE-listed Raymond James Financial, Inc. (NYSE:RJF), already uses ICE Data Services and other ICE solutions, including MERS, the Mortgage Electronic Registration System, making the interconnectivity of Encompass a natural fit.
“Home finance remains a needlessly fragmented process,” Bowler added. “Fortunately, ICE has a proven playbook for streamlining and connecting complex financial transactions through digitization. Our significant investments in mortgage technology and data are allowing us to automate and accelerate elements of the process from start to finish – all to the benefit of the American home buyer or owner. ICE is working to make a difference in people’s lives – and we appreciate this opportunity to help Raymond James Bank do the same for its clients.”
Source: Company Press Release