US-based financial services firm First Data has integrated with the Ellie Mae’s Encompass Consumer Connect lending platform to facilitate loan-related payments.
The integration will enable Ellie Mae customers to accept all lending-related payments including loan origination, processing, underwriting and credit reports.
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First Data executive vice-president and head of CardConnect Jeff Shanahan said: “First Data is thrilled to deliver our fast, simple and secure payment technology to the banks, credit unions, and mortgage lending companies Ellie Mae serves.
“Our relationship will enable Ellie Mae to deliver a simple and secure solution for its clients and further enhanced consumer engagement for lenders.”
Under the arrangement, Ellie Mae will utilise First Data’s BluePay Gateway, a part of the CardConnect ISV platform.
Recently, BluePay has been consolidated into a single integrated payments platform along with CardConnect carrying the brand name of CardConnect.
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By GlobalDataThe consolidation will enable the companies to introduce payment processing within SaaS, mobile and point-of-sale applications.
The BluePay Gateway is also integrated with Ellie Mae’s digital mortgage solution Encompass.
Headquartered in California, Ellie Mae caters to 3,500 financial institutions and mortgage lending companies.
It is said to process around one-third of the total mortgage loan applications in the US. Last year, it reported total revenue of $417m.
