Big Data Done Right; And Shifting Compliance Monitoring Needs

August 19, 2020 One of the biggest revolutionary changes in the end-to-end mortgage and credit union space right now is the convergence of Big Data and multiple new technologies to help mine it – converting data into actionable info.   Many of these solutions are in the sales and marketing front-end, keeping people awake at night regarding new and changing compliance needs.

ALAW & PerformLine welsome

Today we welcome Jim Albertelli and his set of cohesive brands, and welcome to PerformLine. These vendors represent both sides of the equation rapid advancement of innovation and technology, and keeping the enterprise and its people on the right side of compliance.

Albertelli's Brands

Let me just say the guy is ‘always on!’ He never stops moving and his mind constantly seems to stay a few years ahead of the here-and-now. This is reflected in his ever-growing set of companies in the mortgage and legal spaces. And, Jim is savvy enough to surround himself with the best as well. An impressive set of leaders running strategy and day-to-day ops. Here is a snapshot of the Albertelli set of affiliated companies:

Albertelli Law (aka ALAW) – since 1997

Three title companies

    • Brightline Title
    • Fin
    • Commonwealth USA Settlements

Oversite Data Services – since 2012

InfoEx

It is clear that Albertelli’s InfoEx platform has evolved as the center of his universe, the backbone of his affiliates and joint ventures with others in the industry. With InfoEx as a data ingestion engine and the latest technology (artificial intelligence, etc.) producing actionable intelligence like never before – and combining with the practice of law – the platform certainly has the potential to be transformative in virtually any aspect of the mortgage life cycle. InfoEx drives the following key attributes:

  • Procedure-driven workflow
  • Highly intuitive user interface
  • Easily customizable on numerous levels (client, process, product, etc.)
  • Automated decisioning engine
  • Guidance and controls, including legal expertise, for regulatory compliance
  • Simplified API integrations

Albertelli is a mortgage mastermind with ideas and exuberance that are mostly unrivaled in my travels. I’m not the only one to notice. Albertelli was engaged in building Auction.com and had also founded a mortgage company eventually sold to Cerberus Capital Management – and runs the six successful companies

PerformLine

The name sounds quite familiar, right? PerformLine is the producer of COMPLY, the Compliance and RegTech conference which takes place in NYC each May (in non-pandemic years that is).

They dedicate themselves to providing clients with technology to automate compliance monitoring across marketing and sales channels to mitigate regulatory risk and ensure brand safety. That, my friends, gets exponentially harder every day, primarily due to advancements in Big Data and new technologies – where there is a constant deluge of new uses (and challenges) in sales and marketing — elsewhere too.

 Just last week I was a panelist on a HousingWire webinar discussing trends in mortgage tech, giving multiple examples of how sales and marketing is making leaps forward. The essential thing to know is that your existing methods of monitoring individual and enterprise level compliance may not meet your needs any longer.

PerformLine, as a leading SaaS platform delivering automated compliance solutions for enterprises, is a platform to empower leaders with the intelligence, insights and tools needed to mitigate risk across all consumer interaction channels including web, voice, message, email and social media. Examples:

  • Business Intelligence – Data & trend reports to prompt your actions
  • Rules Engine – Sync compliance with your business processes and workflows
  • Discovery – Uncover potential violations you were previously unaware of
  • Speech Analytics – Deployed across the call center for hot topics, key words, disclosures, etc.
  • Custom Workflows – Centralize all compliance and remediation. Awesome audit trails

Best of all, you don’t need a PhD to understand the PerformLine model. They have a 100-point scoring system with points reduced for each type of violation

 Monitor | Rate/Score | Take Action

Lastly, unlike a lot of compliance platforms I have seen, PerformLine makes deployment easy, as they can begin with ‘boilerplates’ – you don’t have to start from scratch building rules, banned words or phrases, etc.

SUMMARY

Collectively, these seven unique brands are delivering value across broad sections of the mortgage ecosystem, bringing the latest technology and automation via simplified deployments and intuitive user interfaces. Check them out today. You’ll also like the people you engage with.

Thanks for reading.

Scott@VendorSurf.com

Co-Founder

 

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