TD Bank Implements Ellie Mae's Encompass Digital Mortgage Solution
PLEASANTON, Calif. – August 23, 2018 – Ellie Mae® (NYSE:ELLI) the leading cloud-based platform provider for the mortgage finance industry, announced today that that TD Bank, America's Most Convenient Bank®, has deployed their initial rollout of the Encompass® digital mortgage solution, continuing Ellie Mae's push upmarket into the largest lenders and banks in the United States. TD Bank is leveraging Encompass to streamline origination and call center vendor integrations onto one platform, speed up deployment of new online products, and significantly reduce the bank's loan cycle time.
TD Bank selected the Encompass platform because of their desire to improve the customer experience by leveraging an all-in-one system that will consolidate processes on a single, efficient, and easy-to-manage ecosystem. Encompass will enhance the bank's ability to audit in-process loans, significantly reduce time to close, deploy new products faster and without gaps in services, and increase the bank's overall nimbleness and flexibility. In addition, customers will now be able to access their disclosures online.
TD Bank leveraged Ellie Mae's Professional Services Organization for the implementation of Encompass. The implementation process required consensus from stakeholders across the organization reaching far beyond Encompass users, from technology groups in the United States and Canada, to downstream data systems to feed the bank's diverse reporting needs. Ellie Mae's proven implementation methodology with hundreds of Enterprise-class customers enables lenders to minimize costs, lower risks and accelerate team member adoption, leading to faster ROI. Ellie Mae's Custom Solutions experience in delivering customized integrations built on top of the Encompass platform was leveraged by TD to collaboratively build out enhancements to further improve user efficiencies.
"We are thrilled to announce that TD Bank has officially completed its initial rollout of Encompass," said Jonathan Corr, president and CEO of Ellie Mae. "We've worked together to successfully transition TD from a legacy origination system to an agile solution equipped to handle the complexities and loan volume experienced by a leading national bank. We value the opportunity to partner with TD Bank to help them grow the mortgage lending arm of their business."
"At TD, we place a strong and steadfast emphasis on continually enhancing both the customer and employee experiences," said Rick Bechtel, EVP, Head of U.S. Mortgage Banking, TD Bank. "By leveraging Ellie Mae's Encompass platform, we're able to provide our customers with a simplified process, online access to documentation, and a substantial reduction in their loan closing time, all of which will dramatically enhance the mortgage lending experience. Simultaneously, Encompass will provide our employees with tools that increase efficiency and streamline processes - a huge win for the employee experience, as well. We could not be more excited to bring TD to the forefront of digital mortgage technology, and our Encompass deployment is the first step."
Ellie Mae's Encompass digital mortgage solution offers technology covering the entire loan lifecycle so lenders can originate more loans, lower origination costs and reduce time to close. Ellie Mae's connected community includes 240,000 users and thousands of service providers and the Ellie Mae Network processes millions of transactions every month, touching more than 30 percent of the residential loans originated in the United States.
To learn more about Ellie Mae's Encompass, visit: https://elliemae.com/encompass/encompass-overview.
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9 million customers with a full range of retail, small business, and commercial banking products and services at more than 1,200 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas, and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com.
About Ellie Mae
Ellie Mae (NYSE:ELLI) is the leading cloud-based platform provider for the mortgage finance industry. Ellie Mae’s technology solutions enable lenders to originate more loans, reduce origination costs, and shorten the time to close, all while ensuring the highest levels of compliance, quality and efficiency. Visit EllieMae.com or call 877.355.4362 to learn more.
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