#USA #New York #DigiFi #Ascent #loan origination

DigiFi Partners with Ascent to Optimize Loan Originations

In an exciting development for the financial technology sector, DigiFi, a leading all-in-one loan origination system, has announced a strategic partnership with Ascent, an innovator in digital experience solutions for financial institutions. This collaboration aims to streamline and enhance the loan origination process, making it more efficient for both lenders and loan applicants.

A Modern Approach to Loan Originations

The integration of Ascent's function with DigiFi's advanced loan origination system (LOS) presents a formidable solution to the traditional challenges faced during the lending process. With an emphasis on modernizing the lending journey, both companies are keen to eliminate the complexities that often lead to application abandonment.

DigiFi transforms the lending approach by allowing financial institutions to tailor the lending workflow specific to their products and services. This adaptability is particularly beneficial in a market where consumer expectations for seamless interactions are continuously rising. By integrating Ascent’s capabilities, DigiFi provides lenders with tools to create custom digital applications that expedite the loan application and approval process.

Drew Lyall, Head of Technology at Ascent, stated, “DigiFi is a modern platform that offers excellent flexibility for originating any credit product. We believe our collaboration will redefine what a good digital experience looks like for loan applicants and lenders alike.”

Enhancing User Experience

Ascent’s platform is designed to take the hassle out of the loan application process. It streamlines all applications and forms, ultimately improving the overall user experience. The partnership is anticipated to reduce application abandonment rates significantly, providing lenders with a competitive edge in a crowded industry.

Josh Jersey, co-founder and CEO of DigiFi, explained, “Our platform is not only flexible but also highly extensible. Teaming up with Ascent enables us to simplify the process for loan applicants. Enhancing the borrowing experience will undoubtedly make our clients stand out in a competitive marketplace.”

Breaking Free from Legacy Systems

For lenders bogged down by outdated systems, DigiFi’s inventive approach allows them to abandon rigid legacy frameworks, embracing a cutting-edge LOS that can be adapted for various lending products. More than $100 billion in loan applications have already been processed through the DigiFi platform, which showcases its efficiency and effectiveness in modernizing the lending sector.

Ascent further enhances DigiFi's offering by providing intelligent application forms that collect live data and apply logic for pre-screening, allowing lenders to ask fewer questions while gathering essential information from applicants. The result is a streamlined experience that is less taxing for both parties involved.

“I deploy a no-code builder, which allows institutions to set up and launch customized applications quickly, without needing extensive technical resources,” remarked an Ascent representative. This feature greatly accelerates the time it takes for lenders to roll out new products, keeping them agile and responsive to market demands.

Looking Ahead

As the partnership between DigiFi and Ascent unfolds, the financial services industry should expect a noticeable shift in how loan origination occurs. The emphasis on user experience, streamlined processes, and modern digital solutions signifies a significant step toward the future of lending.

With collaboration comes innovation, and DigiFi and Ascent are positioning themselves at the forefront of this transformation. As they work together to redefine the lending landscape, both lenders and borrowers stand to benefit from a more efficient, user-friendly environment that prioritizes accessibility and simplicity.

For more information about DigiFi, you can visit digifi.io. To explore Ascent’s offerings and how they can enhance your lending experience, visit ascentplatform.io.