Finastra is on the cusp of innovations that promise to simplify how the industry does things
Finastra is relaunching Filogix and promises the industry forthcoming innovation to make brokers’ lives easier.
“This is just going back to our original name of Filogix for the platform,” said Tim Rye, Finastra’s head of Canadian mortgage technology. “I’d describe it as the same old secure, robust, reliable provider the industry has known for many, many years. We have, over the last couple of years, been through several corporate changes and this really solidifies our brand and business identity as we go forward.”
At the National Mortgage Conference trade show in Montreal this week, Finastra unveiled Filogix to the public, and Rye says reception was exceptional.
“It was well-received,” he said. “We had a good corporate journey over the last couple of years and people are excited to see what we’re doing. Our partners have approached us to work more deeply together. From our broker partners, we were well-received when we talked about the need to protect, own and manage the almighty client data.”
Finastra isn’t just resurfacing with Filogix, it is readying to make a slew of announcements over the coming weeks that should whet the appetites of both the broker channel and lenders. That, says Rye, is one of the messages Finastra emphatically communicated in Montreal.
“We announced our commitment to an open lending ecosystem and giving choice to all of our partners,” he said. “We’ve made further announcements to ensure other frontend origination platforms that are not our own can now have access to all lenders available on our network.
“We talked to our lender partners about downstream data services and looking hard with partners at how we can open up data technology and can focus on better data integration, business intelligence and driving workflow improvements for all of the partners. Our focus is on opening up and expanding our industry-leading secure network of connectivity.”
Some of the rollouts will focus on automation, invariably saving time, however, security will always remain at the heart of what Finastra offers, and therein is the brand’s value proposition.
“When I talk about security, I think about the need for mortgage brokers, who might want to switch platforms down the road, to securely manage their own information with trusted partners and providers,” said Rye. “Security, to me, goes beyond the actual connectivity. It’s about ensuring the preservation of the information.”
