OpenClose, which offers a multi-channel loan origination system (LOS), recently released a RESTful API suite which the company claims makes it quicker, simpler and more cost effective to integrate with disparate technologies, including third-party applications that are antiquated and previously required arduous and labor intensive development efforts.
The company says its RESTful API suite establishes rich connectivity options to drive communications, processes and workflows, which, in turn, lowers the cost to originate. It has been developed with a standardized methodology to enable implementation of direct integrations, seamless data exchange and execution of transactions.
“One of OpenClose’s core goals is to create more efficient methods for our customers to conduct business, respond to changing market conditions and reduce the total cost to originate, close and sell loans,” says JP Kelly, president of OpenClose, in a release. “As our customers’ business models evolve, new needs and requirements emerge that require flexibility and nimbleness to respond to changing marketplace conditions.”
“The RESTful API suite gives lenders the option to work with more third-party service providers,” Kelly adds. “Additionally, OpenClose customers can connect their own homegrown solutions or work with other software providers to custom tailor the perfect solution for their needs.”
OpenClose reports that its customers are already reaping the benefits of the RESTful API suite, successfully unifying their business-to-business data exchange and communications.