WEST PALM BEACH, Fla., May 12, 2020 (SEND2PRESS NEWSWIRE) — OpenClose(R), the industry-leading omni-channel loan origination system (LOS) and digital mortgage fintech provider, announced that it received PROGRESS in Lending Association’s 2020 Innovation Award for its “truly game-changing solutions in the mortgage space.” The award was given for OpenClose’s newly combined end-to-end browser-based LOS, digital mortgage point-of-sale (POS) solution, native product and pricing engine (PPE), businesses intelligence (BI) capabilities, and RESTful API suite.
Award winners were selected by a panel of mortgage technology experts that selected winners based on each innovation’s overall industry significance; the innovation’s originality; the positive change the innovation made possible; the intangible efficiencies gained as a result of the innovation; and the hard cost and time savings that the innovation enables industry participants to achieve.
“We’re ecstatic to be honored with this 2020 Innovation Award,” said JP Kelly, president at OpenClose. “As PROGRESS in Lending acknowledged, we were the first to successfully create a single-source, 100 percent browser-based LOS and POS solution. The genesis of this model stemmed from us observing lenders having to deal with too many disparate technologies and vendors in order to automate digital lending processes, which can be prone to compatibility problems and increase cost per loan.”
According to its website, PROGRESS in Lending states that while there are a lot of digital mortgage POS vendor offerings offering standalone solutions in the market, OpenClose was the ground-breaking vendor that decided to focus on developing the first truly consolidated digital mortgage POS and end-to-end multi-channel LOS solution offered by a single-source provider along with a native PPE, BI, and RESTful API suite.