Original Date: 06/02/2003
Revision Date: 01/18/2007
Best Practice : ECLoanPro Network
ABC Virtual Communications, Inc’s. shared cost model for its flagship product, ECLoanPro, enables small- to medium-sized companies to have the same advanced technology that many of the larger lending institutions use, without the large financial investment.
Small- and medium-sized mortgage companies and brokers need advanced technology to compete with larger companies. These smaller companies do not have the capital to invest in these technologies. ABC Virtual Communications, Inc. (ABCV) developed an affordable shared solution for these small companies. ABCV bundled multiple small mortgage and broker clients and hosted them jointly on one single server. By modifying its primary product deployment, ECLoanPro (ECLP), ABCV leveraged software, hardware, and applicable resources to provide small- and medium-sized clients a feature rich environment at considerable savings without sacrificing features.
ABCV’s flagship product, ECLP, is three distinct product offerings: ECLP Network for small- to medium-sized companies that share a hosted environment; ECLP Service Bureau for clients who want the product hosted in ABCV’s facility; and the licensed product that can be managed by the clients in their environment. The ECLP Network is designed for very small mortgage companies and brokers. Customers’ transactions flow through and are stored on ABCV’s servers in a secure, state-of-the-the-art facility to ensure security and reliability of the customers’ data. The concept of smaller companies sharing software, hardware, and services to enable them to compete with the biggest and the best, is truly an advantage only the Internet can offer. Members of the ECLP Network are instantly connected to a network of other mortgage professionals, giving them the opportunity to develop prosperous business relationships and increase revenue potential.
By implementing this unique shared cost model, ABCV provides small- to medium-sized mortgage companies and brokers the same advanced technology that many of the larger lending institutions use, without the prohibitive financial investment. Currently, approximately 10% of ABCV’s user base takes advantage of this solution.
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