Data Select Systems, Inc. (CLCS) and Built announced an integration between their platforms to further automate and simplify construction lending. The strategic partnership is intended to give construction lenders nationwide significant competitive advantages to grow their business more safely and efficiently while transforming the customer experience they deliver their borrowers and builders.
Data Select’s CLCS system will integrate with Built’s web-based platform to allow construction lending organizations to bring the loan servicer, borrower, builder, draw inspector and others into a centralized collaboration hub, creating efficiency and transparency for all parties involved through real-time online updates, alerts and messages.
“Built’s technology will help our clients realize even more efficiency in their operation and deliver borrowers and builders the digital experience they expect in today’s day and age”, Data Select Systems CEO and Founder Phil Freeman said in a press release. “CLCS is used by premier construction lenders in all 50 states, including 40 of the largest 100 banks and 50 of the largest regional banks, so this partnership will have a significant impact on the construction lending industry as a whole.”
“We’re excited to work with a pioneer and leader like Data Select Systems to bring construction lending further into the digital world we live in and set a new standard for the industry”, Built President and Co-Founder said in the release. “Together we can empower construction lenders to be more connected, productive and successful than ever before. Our combined solution is part of a shared vision that technology can be used to greatly reduce risk and increase the profitability of construction loans.”