Regions Bank announced on Thursday it has invested in and formed a partnership with fintech mortgage and consumer digital lending technology platform provider, Lender Price. According to the bank, the duo will focus on streamlining Regions’ digital process and simplify interaction between banks, borrowers, and bank.
While sharing more details about the partnership and investment, Logan Pichel, Head of Regions Enterprise Operations, stated:
“We have made numerous improvements in the last year to make the customer experience easier – from redesigning our digital applications, to capturing signatures electronically. This investment in Lender Price and our working agreement provides important growth capital for Lender Price, aligns our mutual interests in digital transformation and continues to move us toward the goal of making banking easier for our customers.”
Jerry Halbrook, CEO of Lender Price, then added:
“We are excited about our strategic collaboration with Regions Bank and the confidence displayed in our company and our technology products as a critical component to its digital lending experience.”
Founded in 1971, Regions Bank is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, mortgage and insurance products and services. The bank stated it serves customers across the South, Midwest, and Texas. It also operates approximately 1,500 banking offices and 1,900 ATMs.
Lender Price was founded in 2015 and provides an Openly Accessible Marketplace for mortgage loan originators to price mortgage loans. The company noted it also provides lenders the tech needed to compete and stay complaints in the competitive mortgage market.