NXTsoft, FirstClose Develop API To Improve Lending Experience
NXTsoft, a provider of API connectivity, and FirstClose, a provider of fintech solutions for mortgage lenders nationwide, have developed a partnership to connect their solutions for financial institutions using NXTsoft’s established APIs. The partnership gives financial institutions the ability to implement FirstClose’s point-of-sale digital lending platform – at application without additional manipulation of their core banking systems to render an instant loan decision by leveraging FirstClose’s automated ordering technology for all origination and settlement services needed to close a loan.
FirstClose’s end-to-end solution provides a decision for prospective borrowers within 30 seconds, significantly reducing closing times, increasing profitability, and reducing costs for mortgage lenders through technology and a fully automated user experience. The integration between NXTsoft and FirstClose leverages data from NXTsoft’s core banking integrations to pass and populate key data at application to significantly streamline the borrower experience. Using award winning web apps, extensive vendor integrations, and LOS plugins, FirstClose offers the industry’s first and only solution to deliver everything lenders need, from application to funding, via automation to streamline almost every aspect of the process. From application, credit, flood, and valuation solutions, to instant title, income verification, and automated decisioning capabilities, FirstClose enables lenders to compete for and close home equity and refinance loans unlike any other solution in the industry.
NXTsoft has provided connectivity to banks and credit unions for more than 25 years and has existing connection to 39 of the 41 current core banking platforms. Its OmniConnect platform provides secure, streamlined connectivity to most financial institutions in the country.
“FirstClose and NXTsoft have similar philosophies about why we are passionate about the solutions we provide to financial institutions,” said Rich Longo, chief strategy officer and NXTsoft Omni division president. “Our collective goal is to empower financial institutions to digitally deliver the services consumers demand expeditiously and without headache, and the partnership between FirstClose and NXTsoft is a key piece the puzzle that accomplishes that.”
NXTsoft provides financial institutions and partners with an additional level of security because it includes security monitoring for its API connectors through its OmniAlert solution, that is backed by a 24/7, US-based SOC. OmniAlert ensures safer networks, earlier detection of intrusion and relevant and specific threat intelligence, so financial institutions can be confident that their connectivity with FirstClose will be secure.
“Developing partnerships like the one with NXTsoft goes a long way in creating more efficient, secure processes in the financial industry that can improve the lending experience for everyone involved and bring much needed peace of mind,” said Tedd Smith, co-founder and chief executive officer of FirstClose. “Technology used properly has the potential of improving every aspect of lending. We will continue to do what we can to help that become a reality.”
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