Ellie Mae Opens Call for Submissions to Encompass Innovation Challenge
Grand Prize Winner to Demo Innovation at Ellie Mae Experience 2019
PLEASANTON, Calif. – Oct. 1, 2018 – Ellie Mae® (NYSE:ELLI), the leading cloud-based platform provider for the mortgage finance industry, today announced nominations are now being accepted for its Encompass Innovation Challenge. The company is inviting users of the Encompass® digital mortgage solution to build and submit innovations leveraging the Ellie Mae Encompass Lending Platform™ and Application Program Interfaces (APIs) for an opportunity to be showcased at the company's Ellie Mae Experience 2019 conference in San Francisco.
"We are asking our lenders to share the innovations, process enhancements and solutions that they have developed using the Encompass Lending Platform and our APIs," said Jonas Moe, senior vice president of market strategy, Ellie Mae. "In addition to contributing to the success of their organization and the industry, the winner will have the opportunity to show off their innovation at Ellie Mae Experience 2019."
The collaborative competition will highlight the inventive ways mortgage industry professionals are leveraging the platform's flexibility and capabilities to improve processes or create solutions to their unique challenges.
The contest welcomes all innovative ideas, whether they are already built-out and in use, in process or merely in the concept stage. Entrants are asked to provide their original solutions for using the platform and APIs in ways that address one of the following categories:
- Lowers cost of loan origination
- Reduces time to close loans
- Ensures higher quality loans through greater compliance
- Improves user experience for homebuyers
Entrants must submit a 500-word description of their innovation or concept to the Ellie Mae Encompass Innovation Challenge website. The deadline to submit is November 30, 2018.
Finalists will be judged by a panel of Ellie Mae executives. Entries must leverage the Encompass Lending Platform APIs and will be judged on a scale of one to 10 on the following criteria:
- Increased ability to close more loans
- Increased ability to close loans faster
- Improved consumer experience
- Innovativeness (or "X Factor")
- Potential to change the mortgage industry
"The Encompass Innovation Challenge showcases the innovation, best practices and ideas from our lenders that will help drive the industry toward a fully digital mortgage while helping them engage with their borrowers," said Joe Tyrrell, executive vice president of corporate strategy for Ellie Mae. "We look forward to sharing our clients' creativity as they innovate to power the American Dream of homeownership."
One grand prize winner, who will be announced in January 2019 will be invited to present their solution onstage during the Developer General Session at Ellie Mae Experience 2019 and will receive complimentary passes to the conference. Five finalists will be selected to present demonstrations via WebEx.
The Ellie Mae Encompass Lending Platform gives customers, partners and independent software vendors a secure, scalable platform, plus a suite of Application Program Interfaces (APIs) and developer resources to enable them to extend Encompass with new functionality, easily integrate Encompass with external systems and data and build custom applications in the cloud.
To learn more, visit the Ellie Mae Customer Innovation Challenge website: https://cic.secure-platform.com/
About Ellie Mae
Ellie Mae (NYSE:ELLI) is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, reduce origination costs, and shorten the time to close, all while ensuring the highest levels of compliance, quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.
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