Credit union service organization, CU Solutions Group, is teaming up with NestReady to “expand and enhance the delivery of NestReady solutions to credit unions.” The Montreal, Quebec, Canada-based mortgagetech, which debuted at FinovateFall last year, gives lenders an end-to-end digital homebuying solution that delivers better customer engagement and higher conversions.
“Using AI and machine learning to create transparent environments that allow loan originations at credit unions and real estate professionals to collaborate will create a stellar homebuying experience for members,” NestReady co-founder and CEO Mauro Repacci said. “Our platform eliminates pain points in the homebuying process and gives loan originators the chance to deepen their relationship with members.”
NestReady’s solutions integrate readily into the credit union’s current mortgage lending process. Intent-based marketing powered by machine learning, and automated sales activities driven by AI are among the benefits NestReady provides mortgage lenders. The mobile-first technology offers homeownership engagement platforms to identify when customers are ready to make the next move in their homebuying journey. The company also provides CRM-integrated actionable insights to help lenders best accommodate that moment.
With more than 3,400 customers in the U.S., CU Solutions Group said it will use its existing suite of solutions and its client base to coordinate the marketing and sales of NestReady solutions. The organization is based in Livonia, Michigan, and is majority-owned by the Michigan Credit Union League.
“In today’s changing market, credit unions are always looking for new and valuable resources to help their members,” CU Solutions Group President and CEO Dave Adams said. “Our agreement with NestReady will connect credit unions with a partner that not only provides the online home search capability that members have come to expect, but also resources that (simplify) the home buying process.”
The partnership also includes an investment – amount undisclosed – in NestReady. The company has raised $5.7 million in funding as of the end of 2018, and includes the National Bank of Canada, TechStars, 500 Startups, BDC Capital, 7Seas Partners, Stage1Ventures, and NXT Ventures among its existing investors.
Founded in 2012, NestReady made its Finovate debut last year at FinovateFall 2018, demonstrating its NestReady Total Homeownership Experience platform. The technology uses AI and machine learning to automate much of the mortgage lending process, and leverages consumer behavior analysis and psychographics, real estate transactional data, and other sources to give mortgage lenders insights during the customer lifecycle to ensure “the right action at the right time.”
Recent headlines for NestReady include the company’s partnership with Resource Financial Services, a mortgage banking company based in South Carolina, announced in March. Resource Financial is using NestReady’s machine learning technology and predictive analytics to help its loan originators better understand customer behavior and preferences.