We’re thrilled to be at the forefront of a technological revolution that will transform mortgage processing forever,” Zventus President Angel Alban.
On Monday, global business supplier Zventus introduced the “Mortgage Blockchain Lab,” a new blockchain venture.
The plan aims to pool the resources of a number of mortgage professionals, technological companies, and academic organizations in order to collaborate on blockchain research and development for the mortgage industry.
The California-based firm, whose product and service offerings include business consulting, human resource planning, and tech support, will collaborate with the lab’s partners to trial and test new products and services in this blockchain sandbox.
According to early estimates, the firm’s services have the potential to lower loan costs for financial institutions by more than half if they are introduced.
Zventus President Angel Alban believes in blockchain’s huge potential to boost the sector’s growth:
“There’s no doubt in blockchain’s ability to disrupt the mortgage industry. The capabilities of a secure, transparent ledger without a central intermediary is taking off in Europe and Asia and gaining significant traction in the Americas. We’re thrilled to be at the forefront of a technological revolution that will transform mortgage processing forever.”
Zventus has expanded to 180 countries and 220 languages since its launch in 2016.
The lab, which includes Ethereum (ETH) and Hyperledger as well as technical and academic partners, has set a goal of 1,000 new blockchain-related jobs by 2024.
Alban said, “It’s worth noting that:
“We are excited for the future of blockchain in the mortgage sector, and we look forward to collaborating with our clients and partners to reinvent this important element of financial services.”