Raymond James Bank to Use ICE Mortgage Technology's End-to-End Digital Lending Platform
Encompass chosen after independent review of multiple competing solutions
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced that Raymond James Bank will use the company's Encompass® end-to-end digital lending platform to support mortgage origination for high net-worth borrowers across both retail and delegated correspondent lending channels. Raymond James Bank chose the solution from ICE Mortgage Technology after an objective evaluation of multiple competing alternatives.
"Raymond James Bank undertook a comprehensive review of several competing vendor solutions before determining that Encompass was the best system to support its lending needs," said Tim Bowler, President of ICE Mortgage Technology. "It is clear that our end-to-end ICE mortgage technology ecosystem – and our mission of creating a better experience for the American homeowner – is resonating in the marketplace."
The bank, an affiliate of NYSE-listed Raymond James Financial, Inc. (NYSE:RJF), already uses ICE Data Services and other ICE solutions, including MERS®, the Mortgage Electronic Registration System, making the interconnectivity of Encompass a natural fit.
"Home finance remains a needlessly fragmented process," Bowler added. "Fortunately, ICE has a proven playbook for streamlining and connecting complex financial transactions through digitization. Our significant investments in mortgage technology and data are allowing us to automate and accelerate elements of the process from start to finish – all to the benefit of the American home buyer or owner. ICE is working to make a difference in people's lives – and we appreciate this opportunity to help Raymond James Bank do the same for its clients."
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE:ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines and automates industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.
Category: Mortgage Technology
ICE-CORP
Source: Intercontinental Exchange
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