On Thursday, Ellie Mae announced that TD Bank had begun their roll out of the Encompass digital mortgage solution, an Ellie Mae platform. TD Bank hopes to use Encompass to merge origination and call center vendor integrations onto one platform, as well as speed up deployment of new online products and reduce loan cycle times.
“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.”
TD Bank has leveraged Ellie Mae’s Professional Services Organization during the implementation of Encompass. The purpose of Encompass is to provide an all-in-one bank system, consolidating multiple processes into a single “ecosystem”. TD Bank hopes to use the system to minimize costs, lower risks and accelerate team member adoption.
"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."