Finicity, a provider of real-time financial data aggregation and insights, has signed an integration agreement with SimpleNexus to automate borrower asset verification for lenders.

As per the agreement, Finicity will integrate its Verification of Assets (VoA) solution into SimpleNexus’ Enterprise Digital Mortgage Platform and mobile app to create a seamless digital loan experience.

The integration is expected to enhance the process of applying for a mortgage and also improve the mobile loan origination experience for customers of SimpleNexus.

The assortment of Finicity’s credit decisioning solutions, such as VoA, provides lenders access to the data insights to digitise their loan process.

Finicity CEO Steve Smith said: “As the leading financial data aggregator in the credit decisioning industry, we are always looking for ways to bring valuable insights to lenders and provide faster, simpler and more modern lending experiences to consumers. We’re excited to work with SimpleNexus to continue to drive innovation in the digital lending space.”

SimpleNexus provides a private-label digital mortgage platform and mobile app, which enables mortgage lenders to connect with borrowers and real estate agents and exchange data and documents through the lifecycle of a mortgage loan.

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Besides accessing new loan applications, the loan officers can use SimpleNexus’ smartphone app to pull and view credit reports, run live-pricing scenarios, check real-time CRM feeds and send pre-approval letters.

SimpleNexus CEO Matt Hansen said: “Finicity’s focus on digitising the lending process and reducing user friction aligns perfectly with our mobile-first mindset. This integration agreement will create more efficiencies throughout the entire loan lifecycle for mortgage lenders, borrowers and real estate agents.”