VANCOUVER, British Columbia, Dec. 15, 2017 (GLOBE NEWSWIRE) -- Mobetize Corp. (OTCQB:MPAY), a provider of mobile financial services (MFS) technology for the multi-billion dollar business to business (B2B) segment of the Fintech as a Service (FaaS) sector has added smartMortgage to its suite of fintech products. smartMortgage is an innovative product creating another revenue stream for Mobetize by licensing the product to financial institutions, who will offer a simplified, fully digital mortgage application process for their customers.
Mobetize will deploy smartMortgage with financial institutions, enabling homebuyers and refinancing homeowners to verify assets, employment and income with a simple omni-channel user experience. smartMortgage will also be made available through an Application Program Interface (API) integrating with any User Experience Platform (UXP) such as Backbase or Temenos edgeConnect. Mobetize is presently in discussions with a Beta Deployment Partner.
Mobetize smartMortgage solves a number of key issues challenging lenders and consumers today, including the customer experience, asset quality and risk, regulatory compliance, efficiency and cost containment. Mobetize smartMortgage provides the financial institutions with:
- An omni-channel and simplified user experience to speed up mortgage decisions and funding
- Digitized back office processes and interoperability
- Rapid launch of configurable and adjudication rules
- Leverage of automated insurance and appraisal processes
- Effective capability to address security and regulatory requirements
- Automated back office legal processes
“The mortgage industry is on the cusp of a major digital revolution to flush out the significant inefficiency in the traditional models. Industry leaders will be financial institutions that can set a course away from those traditional models, embracing a digital path. Combined with organizational agility and nimble operability, they will be well positioned to meet the expectations of today’s borrowers. smartMortgage was engineered with a flexible architecture, data and analytical capabilities, and process engineering that redefines customer convenience,” said Mobetize CEO Ajay Hans.
About Mobetize Corp.
Mobetize Corp. (OTCQB:MPAY) has developed a global B2B Fintech as a Service (FaaS) Supermarket by digitizing bricks and mortar financial services to deliver mobile money services to leading telecommunications companies and financial institutions. Mobetize ensures end-to-end integration for services such as prepaid air-time top ups, data gifting, mobile lending, international money transfers, P2P transfers, Visa™/MasterCard™ programs and mobile bill payments. Mobetize seamlessly integrates and white labels its secure mobile money platform services for customers who then offer the services to millions of users. Mobetize experts help telecom and banking providers discover new revenues, new customer relationships and to navigate the emerging Fintech ecosystem. For more information, visit http://www.mobetize.com
Forward Looking Statements
This press release includes statements that are not historical in nature and may be characterized as "forward-looking statements," including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning Mobetize's outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of Mobetize and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for Mobetize's products or in the supplier costs; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in Mobetize's previous filings with the Securities and Exchange Commission. Mobetize disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
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