Omar Jordan, the CEO of Coviance, a fintech company is revolutionizing lending with their cloud-based platform.
In this episode, Omar discusses the rebranding process, the potential of blockchain technology in real estate, and the implementation of their technology in credit unions and community banks. He emphasizes the importance of providing a better borrower experience and highlights Coviance's commitment to innovation and developing fintech talent.
Here are three essential items that we dive into.
1️⃣ Why rebrand from Lender Closed to Coviance.
2️⃣ What the potential of blockchain technology in real estate could be.
3️⃣ How implementing Coviance's technology helps credit unions and community banks.
Omar Jordan Linkedin: https://www.linkedin.com/in/omarjordan
Coviance LinkedIn: https://www.linkedin.com/company/coviancetm
Coviance Facebook: https://www.facebook.com/coviance
Coviance Twitter: https://twitter.com/coviance
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[00:05:32] Rebranding: How Coviance transformed from Lender Closed
Omar discusses the process of rebranding from Lender Closed to Coviance and the reasons behind the change.
[00:07:14] Revolutionizing Lending: Coviance's Mission and Impact
Omar explains how Coviance is revolutionizing the lending experience for community lenders and borrowers by streamlining the process and bridging gaps in underwriting metrics.
[00:11:56] Home Equity Express: The future of lending
Omar describes Home Equity Express, Coviance's product that automates the lending process, communicates with borrowers, and integrates with industry vendors.
[00:13:23] Blockchain and Real Estate Transactions: The Game-Changer
Discussion on the potential of blockchain technology to revolutionize real estate transactions, including the use of blockchain for recording property history and eliminating the need for title insurance.
[00:15:22] Streamlining the Lending Process: Coviance's secret weapon
Exploration of how Coviance's technology streamlines the lending process, reduces costs for borrowers, and improves communication between lenders and borrowers.
[00:18:08] Fast Implementation and User Customization: Coviance's winning formula
Explanation of Coviance's focus on fast implementation of their technology and the ability for financial institutions to customize their administrative panels, resulting in quicker onboarding and improved user experience.
[00:26:45] Iowa's Firsts: The state that leads the way
Discuss the various firsts in Iowa, such as being the first state to have a state-run debit network and a digital driver's license.
[00:29:28] Empowering Young Females in Tech: Coviance's incubator program
Exploration of an incubator program set up by Coviance to prepare young females for careers in technology and how to get involved.
[00:34:56] Implementing Technology: Advice for community lenders
Advice for community lenders on implementing technology to improve the lending experience and finding the right partner for their needs.
[00:40:16] Expanding Opportunities: Investing in Customers and team growth
Expanding opportunities for customers and investing in team growth and talent recruitment.
[00:41:34] Gratitude and Community: Omar's appreciation for the industry
Omar expressed gratitude for the industry and the importance of local communities in the tech scene.
[00:43:26] Partnering with Coviance: Reach out to Omar Jordan and the team
Omar Jordan: Omar Jordan is the founder and CEO of Coviance (formerly LenderClose), a CUSO fintech company that’s transforming the home equity lending process with its cloud-based platform, Home Equity Express™ (HEx). The out-of-the-box solution is proven to increase lenders' efficiencies and productivity output. Founded in 2015, Coviance partners with more than 425 credit unions and community banks nationwide to meet the accelerating digital transformation curve and automate their home lending process. In 2022 nearly $8B in home equity lending volume originated by leveraging Coviance’s technology.
Before Coviance, Omar founded multiple ventures, including National Loan Closings, which was acquired in 2018. Appointed by Governor Kim Reynolds of Iowa, Omar serves as a chairman of the board of directors for the Iowa Division of Credit Unions Review Board. And was a member of the board of directors for the Iowa Mortgage Association. Omar is committed to making an impact in the lending fintech arena. As a part of that initiative, Coviance houses an incubator program for recent college graduates to help them rapidly develop their technical skills, emphasizing preparing young females for successful careers in tech.
Coviance (formerly LenderClose) : Founded in 2015, Coviance (formerly LenderClose) is a fintech company on a mission to perfect the lending experience for community lenders and borrowers through automation and intelligence. A cloud-based platform, Home Equity Express™ (HEx), automates the home equity lending process through configurable workflows with data-driven decisioning intelligence elevating the lending experience for borrowers and lenders. For Credit Unions and Community Banks, Coviance is an out-of-the-box solution that is easy to implement and deploy and allows them to focus on what matters most – “the borrower’s experience”. Coviance was selected as the National Association of Credit Union Service Organizations’ 2022 CUSO of the Year and earned a spot on the Inc. 5000 List of Fastest Growing Private Companies in the U.S. in 2022.
Tedd Huff: Tedd Huff is a recognized thought leader in the Fintech industry & Diamond D3 founder. He is also the co-founder of Voalyre, a global Fintech enablement firm specializing in software and professional services. His expertise and leadership in Fintech have been instrumental in driving the success of numerous startups over the past two decades as an Advisory Board Member, Co-Founder, Chief Experience Officer, and Chief Strategy Officer.
His strategic direction to Global Payments OpenEdge, Heartland Payment Systems, Nuvei, TSYS, and others. His focus on growth, innovation, and user experience has simplified the complexity of payments, leading to collaborations with major companies like Apple, Google, Amazon, Walmart, Cabelas, and Restoration Hardware.
Diamond D3, Media: A media creation, management, and production company delivering engaging content globally