Intercontinental Exchange, Inc. (NYSE: ICE), a global provider of technology and data, today announced that Raymond James Bank (NYSE:RJF) will use the company’s Encompass® end-to-end digital lending platform “to support mortgage origination for high net-worth borrowers across both retail and delegated correspondent lending channels.”
Raymond James Bank chose the solution from ICE Mortgage Technology after “an objective evaluation of multiple competing alternatives.”
Tim Bowler, President of ICE Mortgage Technology, said:
“Raymond James Bank undertook a comprehensive review of several competing vendor solutions before determining that Encompass was the best system to support its lending needs. It is clear that our end-to-end ICE mortgage technology ecosystem – and our mission of creating a better experience for the American homeowner – is resonating in the marketplace.”
The bank, an affiliate of NYSE-listed Raymond James Financial, Inc. (NYSE:RJF), “already uses ICE Data Services and other ICE solutions, including MERS®, the Mortgage Electronic Registration System, making the interconnectivity of Encompass a natural fit.”
Bowler added:
“Home finance remains a needlessly fragmented process. Fortunately, ICE has a proven playbook for streamlining and connecting complex financial transactions through digitization. Our significant investments in mortgage technology and data are allowing us to automate and accelerate elements of the process from start to finish – all to the benefit of the American home buyer or owner. ICE is working to make a difference in people’s lives – and we appreciate this opportunity to help Raymond James Bank do the same for its clients.”
As noted in the update, Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company “that designs, builds, and operates digital networks that connect people to opportunity.”
They provide financial technology and data services “across major asset classes, helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital, and manage risk.”
At ICE Mortgage Technology, they are “transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunities.