Zventus has launched a blockchain lab for the financial services industry. It is an extension of the company’s global consulting, customized staffing solutions, technology, and outsourcing services.
The lab will focus on developing new products, services and solutions to enhance the loan process, the company said. Zventus said its goal is to combine these blockchain innovations with its current core competencies to make mortgage loans more secure, easier to manage, and more economical, reducing costs for financial services firm by upwards of 50 percent per loan.
“There’s no doubt in blockchain’s ability to disrupt the mortgage industry,” Zventus President Angel Alban said in a release. “The capabilities of a secure, transparent ledger without a central intermediary is taking off in Europe and Asia and gaining significant traction in the Americas. We’re thrilled to be at the forefront of a technological revolution that will transform mortgage processing forever.”
The blockchain lab is a collaborative project between several mortgage domain experts, technology partners, and universities working side-by-side on black research, development, and delivery. In addition to Alban, James Hendrick, Marvin Bantugan, Carlos Tabora, Carmen Reynoso, Alma Valenzuela, and a panel of advisors who cover every aspect of the mortgage banking spectrum are involved in the project. Alban has extensive professional knowledge of mortgage banking, while Hendrick has years of experience in loan servicing.
Bantugan, who is leading the technology aspects of the blockchain lab and is Zventus Blockchain Solutions chief technology officer, said Zventus is actively developing a portfolio of proof of concepts and working with industry and research and development partners to bring solutions to the mortgage industry.
“Our capabilities to innovate, improve and grow businesses coupled with our ability to source talent in 180 countries and deliver services in 220 languages is the ultimate sandbox for blockchain innovation and delivery,” Bantugan said.
“We’ve built a world-class team that understands financial services, has extensive mortgage experience, and can harness the power of blockchain for industry transformation,” Alban said. “We are excited for the future of blockchain in the mortgage sector, and we look forward to collaborating with our clients and partners to reinvent this important element of financial services.”