Bandwidth Powers Pennymac Cloud Migration To 50 Percent Cost Savings, Faster Loan Closings
Bandwidth (NASDAQ: BAND) has announced a successful cloud migration partnership with Pennymac, a leading U.S. mortgage lender. The implementation of Bandwidth's cloud communication platform has resulted in over 50% annual telecom cost savings and significantly faster loan processing times for Pennymac.
The migration has enabled Pennymac to enhance its operations through advanced features including sophisticated call routing, conversational AI, and pre-built integrations. Key improvements include 24/7 automated payment options, expedited underwriting processes, and automated TCPA compliance checks. The transformation has been highlighted in American Banker, showcasing Bandwidth's growing influence in financial services communications solutions.
Bandwidth (NASDAQ: BAND) ha annunciato una partnership di successo per la migrazione al cloud con Pennymac, un importante prestatore ipotecario negli Stati Uniti. L'implementazione della piattaforma di comunicazione cloud di Bandwidth ha portato a oltre il 50% di risparmio annuale sui costi telecom e a tempi di elaborazione dei prestiti significativamente pi霉 rapidi per Pennymac.
La migrazione ha permesso a Pennymac di migliorare le proprie operazioni grazie a funzionalit脿 avanzate come il routing sofisticato delle chiamate, l'intelligenza artificiale conversazionale e integrazioni preconfigurate. I principali miglioramenti includono opzioni di pagamento automatizzate 24/7, processi di sottoscrizione accelerati e controlli automatici di conformit脿 TCPA. Questa trasformazione 猫 stata evidenziata da American Banker, sottolineando l'influenza crescente di Bandwidth nelle soluzioni di comunicazione per i servizi finanziari.
Bandwidth (NASDAQ: BAND) ha anunciado una exitosa asociaci贸n para la migraci贸n a la nube con Pennymac, un destacado prestamista hipotecario de EE.UU. La implementaci贸n de la plataforma de comunicaci贸n en la nube de Bandwidth ha resultado en m谩s del 50% de ahorro anual en costos de telecomunicaciones y tiempos de procesamiento de pr茅stamos significativamente m谩s r谩pidos para Pennymac.
La migraci贸n ha permitido a Pennymac mejorar sus operaciones mediante funciones avanzadas como el enrutamiento sofisticado de llamadas, inteligencia artificial conversacional e integraciones preconstruidas. Las mejoras clave incluyen opciones de pago automatizadas 24/7, procesos de suscripci贸n acelerados y verificaciones autom谩ticas de cumplimiento TCPA. Esta transformaci贸n fue destacada en American Banker, mostrando la creciente influencia de Bandwidth en soluciones de comunicaci贸n para servicios financieros.
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Bandwidth (NASDAQ: BAND) a annonc茅 un partenariat r茅ussi de migration vers le cloud avec Pennymac, un acteur majeur du pr锚t hypoth茅caire aux 脡tats-Unis. La mise en 艙uvre de la plateforme de communication cloud de Bandwidth a permis 脿 Pennymac de r茅aliser plus de 50 % d'茅conomies annuelles sur les co没ts t茅l茅com ainsi qu'une acc茅l茅ration significative des d茅lais de traitement des pr锚ts.
Cette migration a permis 脿 Pennymac d'am茅liorer ses op茅rations gr芒ce 脿 des fonctionnalit茅s avanc茅es telles que le routage d'appels sophistiqu茅, l'IA conversationnelle et des int茅grations pr茅con莽ues. Parmi les am茅liorations cl茅s figurent des options de paiement automatis茅es 24h/24 et 7j/7, des processus d'analyse acc茅l茅r茅s et des contr么les automatis茅s de conformit茅 TCPA. Cette transformation a 茅t茅 mise en avant dans American Banker, soulignant l'influence grandissante de Bandwidth dans les solutions de communication pour les services financiers.
Bandwidth (NASDAQ: BAND) hat eine erfolgreiche Cloud-Migrationspartnerschaft mit Pennymac, einem f眉hrenden US-Hypothekenanbieter, bekannt gegeben. Die Implementierung der Cloud-Kommunikationsplattform von Bandwidth f眉hrte zu 眉ber 50 % j盲hrlichen Einsparungen bei Telekommunikationskosten und deutlich schnelleren Kreditbearbeitungszeiten f眉r Pennymac.
Die Migration erm枚glichte Pennymac die Verbesserung seiner Abl盲ufe durch fortschrittliche Funktionen wie ausgekl眉geltes Anrufrouting, konversationelle KI und vorgefertigte Integrationen. Zu den wichtigsten Verbesserungen z盲hlen 24/7 automatisierte Zahlungsoptionen, beschleunigte Underwriting-Prozesse und automatisierte TCPA-Compliance-Pr眉fungen. Die Transformation wurde in American Banker hervorgehoben und zeigt Bandwidths wachsenden Einfluss im Bereich Kommunikationsl枚sungen f眉r Finanzdienstleistungen.
- Over 50% reduction in annual telecom costs
- Significant reduction in loan processing time
- Implementation of 24/7 automated payment options
- Enhanced compliance capabilities with automated TCPA checks
- Integration of advanced features including AI and sophisticated call routing
- None.
Insights
Bandwidth's partnership with Pennymac demonstrates strong enterprise value proposition with 50% cost savings and operational improvements for financial clients.
This customer success story with Pennymac represents a significant validation of Bandwidth's cloud communications platform in the financial services sector. The
What's particularly noteworthy is that this isn't just about cost reduction. The acceleration of loan processing times directly impacts Pennymac's core business metrics and revenue potential. In mortgage lending, faster closing times correlate strongly with competitive advantage and customer satisfaction. By enabling advanced capabilities like sophisticated call routing, conversational AI, and pre-built integrations, Bandwidth is positioning itself as a strategic technology partner rather than just a communications vendor.
The compliance automation for TCPA requirements addresses a critical pain point in financial services. Regulatory compliance is both mandatory and expensive in this sector, so solutions that streamline compliance while reducing risk represent significant value. This demonstrates Bandwidth's understanding of industry-specific challenges beyond generic communications services.
For Bandwidth, this case study serves as powerful sales collateral to attract other financial institutions looking for similar transformations. The third-party validation through American Banker adds credibility that pure marketing materials couldn't achieve. As financial services continue their digital transformation journey, Bandwidth is establishing itself as a specialized partner that understands the unique requirements of this high-value vertical.
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"With a customer-first lens, we are focused on maximizing new opportunities like AI and leveraging new tech to continuously improve the customer experience," said Mike Hogan, Pennymac's Chief Information Officer. "We chose Bandwidth to migrate our communications to the cloud because they are known for their reliability, communications integrations and exceptional customer support."
Beyond significant cost savings, Pennymac's partnership with Bandwidth improved business- critical performance metrics like time to close for each loan. By leveraging Bandwidth's modern cloud platform, Pennymac also gained advanced capabilities, including sophisticated call routing, conversational AI and pre-built integrations with leading marketplace technologies. This allowed the company to tap into rich metadata transported by IP voice calls, enhancing the customer experience and bringing new capabilities to analyze performance.
As a result, Pennymac's customer service communication is now faster and more agile, which combined with automation has expedited underwriting, shortening loan finalization times. Customers also benefit from new conveniences, including 24/7 payment options through Pennymac's automated contact center. This improvement saves time and boosts profitability.
Operating in a highly regulated industry, Pennymac also leverages its new cloud communications systems to support compliance and mitigate risk. With Bandwidth, the company was able to automate critical TCPA compliance checks for outbound calls, helping to ensure calls aren't made to anyone on the National Do Not Call Registry or outside reasonable hours.
"Pennymac is showing the financial services industry what's possible when you rethink communications as a strategic advantage," said John Bell, Bandwidth's Chief Product Officer. "By modernizing with Bandwidth, Pennymac has unlocked dramatic gains in cost efficiency, regulatory compliance and customer experience."
The Pennymac success story demonstrates Bandwidth's position as a trusted cloud communications provider for innovative enterprises in the financial services space. To discover the full impact of this partnership and watch the customer story video, click .
About Bandwidth Inc.
Bandwidth (NASDAQ: BAND) is a global cloud communications software company that helps enterprises deliver exceptional experiences through voice calling, text messaging and emergency services. Our solutions and our Communications Cloud, covering 65+ countries and over 90 percent of global GDP, are trusted by all the leaders in unified communications and cloud contact centers鈥搃ncluding Amazon Web Services (AWS), Cisco, Google, Microsoft, RingCentral, Zoom, Genesys and Five9鈥揳s well as Global 2000 enterprises and SaaS builders like Docusign, Uber and Yosi Health. As a founder of the cloud communications revolution, we are the first and only global Communications Platform-as-a-Service (CPaaS) to offer a unique combination of composable APIs, AI capabilities, owner-operated network and broad regulatory experience. Our award-winning support teams help businesses around the world transform their communications every day. For more information, visit .
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FAQ
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