Client: eLucid Technologies
Project: Digital Mortgage App
Services: Strategy, design, project management, testing, business development, email marketing
The eLucid™ app is designed to deliver an end-to-end digital mortgage solution for lenders and their borrowers. It combines simplicity and transparency with powerful finance features in an open environment to attract, convert, and retain customers.
Unlike other digital mortgages, the eLucid™ app isn’t a “use once then forget” app. The eLucid™ app enables users to take control of their mortgage experience from shopping to application and closing. Then it goes a step further by tracking equity and current rates throughout the term of the loan with a countdown clock so it can alert the user when it is time to refinance. One tap from the alert screen initiates a new refinancing loan with the lender. This end-to-end approach increases customer retention by providing value long after the original transaction.
The eLucid™ app’s open platform makes it easy for lenders to adopt it by integrating with popular CRMs, credit services, rate providers, and loan origination systems. This approach lowers the cost of adoption and reduces the learning curve for the lender’s loan officers, processors, and underwriters.
An introduction strategy was created to attract strategic partners that could jump-start distribution to lenders. A list of senior engineering and business development executives at leading financial technology companies was developed. An email campaign targeted the list with a series of teasers culminating in an invitation to view the app at the Digital Mortgage Conference. Presentations were delivered to small groups in a hospitality suite over two days at the conference. The effort resulted in partnership offers from two of the mortgage industry’s largest technology companies.