Exec is expected to accelerate AI product development and enhance homebuying experience
Rocket Companies has tapped Papanii Okai (pictured) as executive vice president (EVP) of product engineering.
Okai, previously the chief technology officer at Venmo, will lead efforts to accelerate the development of AI-driven products at Rocket. He will work closely with engineers, product managers, and designers to build upon the company’s existing AI-powered tools.
During his nearly 11-year tenure at Venmo, Okai played a key role in scaling the platform to serve 90 million users. He led the engineering teams responsible for building Venmo’s core products and driving the company’s success as a leader in peer-to-peer payments.
Before Venmo, Okai held various roles at PayPal, overseeing the engineering and product teams that powered the company’s global payments platform, which supports over 400 million accounts worldwide.
"We've all experienced technology that drives real impact in the world through Papanii's work with Paypal and Venmo. Now, he will be using that skill to help revolutionize the homeownership journey," Rocket CTO Shawn Malhotra said in a media release. "After serving in roles from a hands-on-keyboard engineer all the way to a CTO at both startups and large international tech companies, Papanii's technical depth and track record for building high-performing and highly engaged teams makes him a valuable asset for us at Rocket."
Okai joined the company at a time when Rocket is focusing on integrating artificial intelligence to streamline and personalize the mortgage process. The company has been leveraging AI through its proprietary loan origination system, Rocket Logic, which uses AI to extract data from client-submitted documents automatically, and Rocket Logic – Synopsis, which provides team members with searchable transcripts from calls, chats, and other client interactions.
Read more: Rocket bets on AI to lead mortgage market recovery
"Homeownership is one of the most impactful things that can happen in someone's life. It brings security, stability and can build generational wealth – which is exactly why I jumped on this opportunity," he said. "The best way we can use technology is to make the path to homeownership easier, faster and more accessible. I'm looking forward to bridging the gap between technology and human experience, so people across the country, no matter where they are from, feel confident taking this life changing step."
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