Rocket Mortgage, a leading real estate lender, today declared a partnership with Salesforce to make the organization’s mortgage origination technology accessible to banks, credit unions and other monetary institutions across the country through Salesforce. Financial Services Cloud. The market opportunity is huge, as there are nearly 5,000 FDIC-backed banks and over 5,000 credit unions in the United States. While some have unusually concentrated mortgage lending tasks, most have different partners and technology providers handling mortgage loans for them. Through this organization, Rocket Mortgage intends to bring its technology into Salesforce Financial Services Cloud regardless of how the monetary foundation decides to offer mortgages, thereby simplifying a potentially fragmented process.
This partnership builds on Rocket Companies’ existing relationship as a Salesforce customer. Currently, the company uses Salesforce Financial Services Cloud and Marketing Cloud to serve as a single source of truth for its customer data on an engagement platform, suitable for real estate and lending. Rocket Companies knows firsthand the value that integration with Salesforce technology can bring and how it can improve the customer experience.
âToday’s news shows what is possible with the Rocket platform and the technology that powers it. This will be the first time that a mortgage lender has provided an end-to-end mortgage solution through Salesforce Financial Services Cloud, a platform that thousands of financial institutions already rely heavily on, âsaid Jay Farner, Vice-President. president and CEO of Rocket Companies. âWe recognize the important and personal role that local banks and credit unions play with so many Americans – they have a relationship of trust with their customers. Financial institutions can now combine the relationships they have already established, while leveraging Rocket Mortgage’s transformational platform powered by Rocket technology.
If financial institutions have licensed mortgage loan officers, they will be able to use Rocket Mortgage technology, directly in Salesforce Financial Services Cloud, as a point of sale (POS) and loan origination (LOS) system, to deliver an experience. single client to homebuyers and those refinancing their mortgages. More importantly, financial institutions will, in many cases, be able to offer home loans without the need for underwriters, processors, compliance teams, or closing since Rocket Mortgage will take care of all the processing after the financial institution’s loan officer will have advised the client on his mortgage. options and helps them complete the application.
Financial Services Cloud helps financial institutions deliver quality service through automation, integration, intelligence, and pre-defined processes. This technology helps financial institutions better understand how customers interact with branches, ATMs and digital properties, giving organizations a 360-degree view of their relationships on how they can best support their customers. By integrating Rocket Mortgage with Financial Services Cloud, financial institutions will have the tools to help them organize personalized customer experiences without the need to recruit staff throughout the mortgage loan process, from application to closing.
âWe are incredibly proud to extend our partnership with Jay Farner and his team at Rocket Mortgage with new innovations for the financial services industry,â said Marc Benioff, President and CEO of Salesforce. âTogether, we are reinventing the mortgage experience for a digitally driven and trustworthy world, transforming the home buying process for thousands of financial institutions and their customers. “
âThe value of Financial Services Cloud aligns with Rocket Companies’ mission: to use innovative technology to build and deepen relationships with clients to help them achieve their goals faster,â said Eran Agrios, SVP and Director General Financial Services at Salesforce. âThis new offering from Rocket Mortgage shows how Financial Services Cloud will help reinvent mortgage as a service with an application, origination and loan service experience tailored to our financial services clients. “
This new offering will allow Rocket Mortgage to increase its market share while offering financial institutions flexibility in the products they offer. Rocket Mortgage plans to improve the home buying experience for everyone, in all communities, by integrating with Salesforce.
Rocket Mortgage has been # 1 in customer satisfaction for JD Power’s primary mortgage creation for 11 consecutive years, from 2010 to 2020. One of the driving forces behind this award is mortgage technology. company, with Rocket Mortgage leading in all of the categories that make up the Total Satisfaction Score. Forward-looking statements
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Summary of the news:
- Rocket Mortgage Partners with Salesforce, Providing Transformational Mortgage Services to Financial Institutions
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