FinLocker is a consumer-enabled financial platform that gives lenders access to critical borrower information that can be used to streamline the origination and underwriting for mortgages and other financial products. It accesses consumer financial data electronically and applies configurable business rules and algorithms to analyze employment, income, assets, credit, taxes and other information to validate guideline issues and highlight conditions that require processor/underwriter attention.
PRODUCTS & SERVICES:
Online financial data and analytics platform.
FinLocker accesses online financial information from the sources of the consumer’s choosing, including bank statements, brokerage statements, credit card statements, tax information, and other financial data. FinLocker also applies business rules and analytics to provide actionable information that can be utilized by lenders, servicers, and investors. They help businesses by providing services like automatic verification and applicant loan corroboration.
The company has partnerships with Lenders One, Fiserv, WebMax, Equifax, The Collingwood Group, AITHERAS, VidVerify, eOriginal, and Beltway Insight.
FinLocker leverages aggregation technology from FiServ to enhance analytics solution for the mortgage industry. (Dec. 2017)
FinLocker accesses online financial information from the sources of the consumer’s choosing, including bank statements, brokerage statements, credit card statements, tax information, and other financial data. That data can be integrated into existing loan origination and business systems. The company offers real-time verification of financial data with access to over 15,000 financial and other data sources.
Tim Stern, Barry Sandweiss, Peter Esparrago
NUMBER OF EMPLOYEES:
Cultivation Capital, SixThirty FinTech Accelerator, Holekamp Ventures, Holton Capital Group
The company is trying to reduce borrower frustrations and lender costs associated in getting a mortgage approved as fast a possible, while increasing certainty for investors. (Aug. 2018)
DATE OF LAST FUNDING:
TOTAL FUNDING COMMENT:
The company is planning use the funds to fuel the growth of the company. (Aug. 2018)