Provides Proactive and Predictive Insights on Retail Lending Data for Banks, Credit Unions, and Mortgage Companies
AUSTIN, TX / ACCESSWIRE / November 15, 2021 / CognitiveScale, the enterprise AI company that helps organizations win with intelligent, transparent, and trusted AI powered digital systems, today announced an early access program as part of the introduction of its new TrustStar product.
TrustStar is a SaaS-based product developed using CognitiveScale's Fabric platform and Certifai technology designed to provide banks, credit unions, and mortgage companies with AI-powered market intelligence so they can grow by tracking real estate trends, staying on top of competition, and providing better customer service while maximizing financial inclusion for the local markets they serve.
TrustStar by CognitiveScale significantly reduces the amount of time it takes for mortgage lending professionals to access and analyze large volumes of industry data and personalized insights daily. This information is critical to staying ahead of competition and includes key market indicators such as housing affordability, how new Fair Lending Laws affect borrowers, which realtors to work with, where competitors are opening bank or credit union branches, how millennials are borrowing and at what rates, and much more. Typically, getting and synthesizing that data takes a long time and requires a team to analyze complex first and third-party data.
TrustStar takes all of that data, analyzes it, and in a single interface delivers the most impactful, relevant, and actionable insights. TrustStar empowers the head of mortgage lending, loan officers, compliance officers, VP of marketing, VP of production, and chief strategy officers with practical insights about the market and potential impacts on their business, and proactively recommends actions to take in response to changing market conditions. The result is the ability to close more loans, expand business, remain compliant, and provide exceptional client service.
"As a TrustStar charter customer, I've seen first-hand the value it delivers to us," said Rohan Kothare, Sr Mortgage Loan Officer, First United Bank and Trust. "With such a variety of data, and with information distilled to actionable insights, I see TrustStar as a game changer for our entire organization."
"The mortgage industry is very competitive and knowing what the market landscape looks like at any given moment is critical to growth," said Rob Lindstrom, Owner, Alcova Mortgage. "TrustStar's Competitor Watch insights is what first got my attention and from there I realized that the Fair Lending module would be very useful to my compliance team. I see TrustStar as a very strategic tool for our business."
TrustStar uncovers industry and proprietary data to provide real-time insights and forecasting. In just a few clicks, TrustStar obtains operational insights about the lending institution and its direct competitors and transforms hundreds of public and private data sources into proactive recommendations. Additional benefits for TrustStar users include:
- Market Monitoring
- Remain ahead of your competition
- Know which institutions are lending to whom and how
- Increase market penetration with diversity initiatives
- Actionable Customer Insights
- Find hidden opportunities in your local markets and adjacent areas
- Highlight mortgage product opportunities
- Improve Loan Officer KPIs
- Better Decisions
- Ensure compliance with Fair Lending Practices
- Better serve your local markets and proactively monitor fair lending compliance
"The mortgage industry is one of the fastest and most dynamic sectors in financial services, but it has remained a very hands-on, analog space in terms of collecting and analyzing all the data lenders need to make informed business decisions that bring value to their institutions, "said Matt Sanchez, Founder and CTO, CognitiveScale. "TrustStar has been developed to bring to the lending industry the same powerful tools other data-intensive companies have adopted to make them more competitive, and able to adapt and thrive in the moment, based on the best information available."
The TrustStar early access program is now taking applications from mortgage lending customers interested in participating. Complete the application here to be considered for the program which ends on December 31st and is free for the first 50 members.
CognitiveScale is the Trusted AI company and has been providing hyper-personalized insights for the healthcare and financial services industries for the past eight years. Four of the largest healthcare companies in the world depend on CognitiveScale's insights, and the company has driven recommendations for more than 90 million unique customer profiles, in addition to working with some of the largest banks in the world, including JP Morgan Chase and Goldman Sachs.
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CognitiveScale is an enterprise AI software company with solutions that help customers win with intelligent, transparent, and trusted digital systems. Our Cortex software and industry AI accelerators enable businesses to rapidly build, operate, and evolve intelligent and trusted AI systems on any cloud. The company's award-winning software is being used by global leaders in banking, insurance, healthcare, and digital commerce to increase user engagement, improve employee expertise and productivity, and protect brand and digital infrastructure from AI business risks.
Headquartered in Austin, Texas, CognitiveScale is funded by Norwest Venture Partners, Intel Capital, IBM Watson, M12 (Microsoft) Ventures, Anthem, and USAA.
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