While outlining the five service offerings that will result from the development, executives from defi SOLUTIONS on Friday announced the acquisition of OpenRule Systems APM (Application Process Manager). They indicated the two companies will combine to create an even stronger technology team to serve finance companies seeking flexible and affordable loan origination technology.
According to defi SOLUTIONS chief executive officer and founder Stephanie Alsbrooks, the company plans to integrate the features and functions of APM quickly into a single, powerful system. The new combined defi SOLUTIONS system will offer finance companies:
—Automatic upgrades and key feature enhancements
—Increased support from a combined and larger defi team
—Fully configurable settings to allow for easy changes to programs, processes and integrations
—Quick access to more than 30 pre-integrated credit bureaus, valuation services and servicing providers
—Access to alternative credit data offered via existing integrations with ID Analytics, FactorTrust, TransUnion, CreditSmarts and more
“defi SOLUTIONS and OpenRule were founded with the same goal in mind, to provide lenders with a level of freedom they don’t have with other LOS providers,” Alsbrooks said. “By combining forces with OpenRule, defi can offer even more functionality to current and future customers.”
The OpenRule team has re-located to the defi headquarters, also located in Grapevine, Texas. The combined teams will be on the road for the next several weeks, meeting with customers and completing plans for integration. One of those stops is the National Automotive Finance Association’s 19th annual Non-Prime Auto Financing Conference on May 27 through May 29 in Plano, Texas.
“We look forward to working with the OpenRule team to integrate the many great features of APM that their customers enjoy today,” Alsbrooks said. “During this initial migration to the defi family, we want OpenRule customers to rest assured that we are focused on their needs and coming together in a seamless fashion so they can even more easily overcome the challenges they face when attempting to balance technology, compliance, and risk operations.”
Previously, Kevin Perkins was technology director at OpenRule APM. Now Perkins will serve in the same role with defi SOLUTIONS.
“We see joining the defi team as an opportunity to advance our functionality and scalability through a hosted technology solution while still offering all the critical support and functionality our customers count on with APM,” Perkins said.