Ellie Mae, the leading cloud-based loan origination platform provider for the mortgage industry, announced the general availability of Encompass Data Connect in a hosted delivery as another option for lenders to gain access to their data.
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Lenders can now choose between two data delivery methods:
- Hosted: Analyze Encompass® data by connecting a Business Intelligence (BI) application directly to Data Connect without having to replicate the data to a local data warehouse.
- Replication: Replicate the Encompass data into a lender’s data warehouse and to downstream applications for increased flexibility and analysis capabilities.
“Data is a lender’s best friend. It allows for a better understanding of customers and members and the industry at large and provides key insights that lead to business innovation and a significant competitive advantage,” said Joe Tyrrell, chief operating officer, Ellie Mae. “However, many lenders struggle with extracting, storing and maintaining the currency of their data, which leads to high data maintenance and development costs, despite limited data visibility and availability. Data Connect in a hosted delivery model solves these problems.”
Hosted delivery provides all of the existing benefits of the Data Connect replication solution and much more, including:
- Access to Encompass loan data fields in near real-time without impacting Encompass performance, offering access to the available data when you need it
- Pre-built reports and dashboards in third-party BI applications to reduce development costs
- Three years of historical data right out of the box to allow year-over-year analysis
- Automatic database schema updates synced with changes in Encompass
- Maximized existing business intelligence tools using structured data provided by Encompass Data Connect hosted
“Data Connect in a hosted delivery model leads to cost savings and an abundance of data-driven insights that can increase the efficiency, agility, and profitability of lenders’ businesses,” said Tyrrell.
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