Strategic investment will deliver next generation solutions to the Canadian mortgage market, including consumers, brokers and lenders
London, UK – October 21, 2020 – Finastra, via its Canadian mortgage business Filogix, has acquired Doorr, a provider of cloud-based point-of-sale mortgage application software used by brokers to improve the mortgage experience. The deal is part of Finastra’s strategic investment in its Filogix mortgage marketplace, connecting consumers to brokers, lenders and many supporting partners to enable a secure mortgage application process. It will enhance Filogix capabilities in support of delivering next generation solutions to the Canadian mortgage market and deliver benefits to consumers, brokers and lenders.
Siobhan Byron, SVP, Technology Enabled Managed Services (TEMS) at Finastra said, “Filogix has always been the go-to provider of tools and technology for mortgage originators in Canada. The addition of Doorr will bring cutting edge features backed by the talented individuals that join us from the company. Combined with our deep expertise and leading position in the Canadian brokered mortgage market – together we can improve the borrowing experience for consumers, brokers and lenders.”
Already a Filogix mortgage marketplace partner, where users can benefit from a wide range of value-added services such as credit process automation, the acquisition brings Doorr’s advanced technology capabilities to Filogix, including a state-of-the-art user interface in the cloud – enabling residential mortgage deals to be completed quickly, reliably and securely.
Muhammad Rashid, Co-founder & CEO at Doorr said, “We’re excited to be joining the Finastra family, extending our trusted partnership. Our values around digitizing the mortgage application process to drive an improved customer experience while harnessing the power of open APIs are well aligned.”
Finastra’s legal counsel for the transaction was Stikeman LLP. Financial details have not been disclosed.
For further information please contact:
Fusion Essence Cloud will automate core processes and digitalize the end-to-end customer journey to support growth in mortgage lending and savings. Lo...View article
International Chamber of Commerce and Finastra bring trade funding marketplace pilot to Ecuador ICC TRADECOMM – designed to unlock the global $1...View article
Filogix Private Lender Gateway launches to connect private lenders with mortgage brokers Private lenders now have barrier-free access to a wide range ...View article