Finastra recently launched Fusion Mortgagebot Data Insights, a tool that benchmarks mortgage borrower behavior and demographics for banks and credit unions against that of more than 1,400 other Fusion MortgagebotPOS users.
The solution leverages big data and machine learning to provide users with new insights into consumer behavior to drive a better borrower experience, the company says in a release.
Finastra built Fusion Mortgagebot Data Insights on top of Microsoft Power BI, via FusionFabric.cloud. Using innovative artificial intelligence and data visualizations, this functionality adds powerful analytics and dashboards to help users uncover trends and spot new business opportunities.
With Power BI, Finastra was able to bring the solution from concept to production with eight live customers in just 180 days.
Early adopters, including Bank Independent, are already using Fusion Mortgagebot Data Insights to build mortgage lending and mortgage marketing strategies that drive a stronger, revenue generating mortgage portfolio.
“The abundance of big data may seem overwhelming, but in today’s competitive market it is important to understand how analytics offer banks and credit unions a necessary edge for their products, markets and channels,” says Esther Henry, vice president, mortgage lending with Bank Independent. “With a quick toggle, we can compare universal data from Fusion MortagebotPOS users, revealing new opportunities and providing the knowledge needed to quickly shift loan strategies to maximize profits.”