eOriginal Introduces A Real-time Auditing and Compliance Solution for Financial Services and Lending Institutions
New DatalyticsTM Platform enables Banking and Financial Services Industries to Better Manage Loan Audit Processes with Custom Analytics
ABS EAST CONFERENCE, MIAMI BEACH, FLA. — eOriginal, Inc., the experts in digital transactions, today launched Datalytics™, a real-time asset-level auditing and compliance solution for the financial services industry.
Originally driven by the increasing demand for detailed real-time monitoring in support of eOriginal’s fully electronic mortgage solution, Datalytics provides analysis, monitoring and reporting of origination data for faster audit request response and to prevent errors and resubmissions. The solution provides a full chain of custody for data across the loan process at the asset-level, which will enable an unprecedented level of insight and due diligence while saving time, reducing risk and decreasing costs.
The new solution complements eOriginal’s eAsset® Management Platform, one of the most secure platforms on the market for managing electronic business transactions and protecting financial assets post-signature throughout their lifecycle.
Incorporating origination data into a configurable dashboard with intuitive drill down capabilities, Datalytics provides asset-backed security (ABS) buyers with asset-level data and document association with confirmation that there have been no modifications and alerts if there are any.
“Datalytics is a vital solution that has been missing in financial services practices dealing with governance, risk management and compliance,” said Stephen Bisbee, CEO and president of eOriginal, Inc. “Overlapping regulations tend to complicate efforts in completing business deals – or transactions. With Datalytics, the consolidation of auditing programs and elimination of manual processes helps bring order to a fully digital environment.”
The enhanced level of insight offers organizations in the banking and financial services industries unparalleled advantages that solve industry-specific problems by:
- Providing real-time, ongoing audit reporting capabilities.
- Eliminating the requirement to create custom one-time databases pulling documents from multiple silos – an expensive and time intensive process.
- Anomaly detection to minimize errors and resubmissions.
- Data and document integrity checking.
- Build securitization pools and monitor tranches, including alerts for any anomalies.
Previews with large customers, several leading business technology firms and industry analysts have been overwhelmingly positive, recognizing that Datalytics will play a vital role in the analysis of loan processes across industry types: whether traditional or marketplace lending for auto loans, equipment leasing, student lending, or mortgage. With the increasing demands from investors, auditors and regulators, Datalytics is uniquely positioned to enable monitoring and analysis across the entire process and deliver a better understanding of risk.
“It’s really quite extraordinary,” said a leading analyst firm. “From student loans, mortgages, auto, etc… There are 275 million Americans whose lending can be touched by this vital data collection and analysis.”
While a valuable solution across financial services, Datalytics is notably a key component to the eOriginal end-to-end mortgage platform, also announced today. In collaboration with several integrated partners, eOriginal can deliver a fully digital process that includes eNotarization, eRecording, eWarehousing, eCustodian services and industry-standard compliant SmartDocs and Forms.
eOriginal is providing demonstrations of the Datalytics solution in its booth (No. 58) at the 21st Annual ABS East Conference in Miami Beach, FL, September 16-18, 2015. Additionally, Bisbee will serve as a panelist on the “Marketplace Lending 101” session at the conference. The session will take place at 1:50 p.m. EST on Wednesday, Sept. 16, as part of the Track B sessions. To schedule a meeting at the conference, visit: http://info.eoriginal.com/TS-2015-09-ABS-East.html.