Roostify's "Innovator of the Year Award" Awarded to TD Bank

SAN FRANCISCO, Oct. 24, 2022 /PRNewswire/ -- Roostify awarded its first-ever annual "Innovator of the Year Award" to the Consumer Direct Lending team at TD Bank, America's Most Convenient Bank®. Jon Giles, Head of Consumer Direct Lending at TD Bank, accepted the award on behalf of the team at the 2022 Digital Mortgage Conference in Las Vegas. The award embodied the team's transformational developments in TD's lending structure, powered by Roostify's proprietary lending platform. Roostify CEO Rajesh Bhat shared his rationale for choosing TD for the first-of-its-kind accolade.

"We felt as though the achievements of Jon and his team warranted true recognition. Their vision to combine mortgage lending and home equity under one roof was simultaneously revolutionary and pragmatic—none of us were surprised when we saw the success this produced."

Major banks typically separate mortgage lending operations from home equity, despite the significant overlap between the two divisions. The efforts of TD's Consumer Direct Lending team to unite them ultimately provided both the bank and its customers with a more streamlined, unified experience. Chris Boyle, President of Home Lending at Roostify, highlighted the logic behind the transition.

"So often, borrowers with a mortgage are looking for home equity options. And just as often, homeowners are interested in using home equity as a down payment for a second home. TD's decision to combine the two provided a substantial boost in numbers for both mortgage and home equity, while also increasing customer retention."

The streamlined structure of Roostify's platform enabled TD to combine mortgage lending and home equity without revamping or reconfiguring its backend legacy systems. Rather, Roostify executed the transformation using modular, configurable plugins that allowed the process to happen with little backend work, from a technical standpoint. The change was predominantly visionary and operational for TD. Upon receiving the award, Jon reflected on his team's achievement.

"TD Bank has always prioritized the needs of its customers above all else, so it made perfect sense to everyone on the team to revamp our home lending model with Roostify's innovative, intuitive platform," said Jon. "There were several partnerships across the bank that we leveraged to complete the work, but we took a One TD approach to the transformation, as we do with all our projects, and we couldn't be happier with the results – a significantly improved customer and colleague experience and a more streamlined, effective business model."

SOURCE Roostify