Founded in 2008, NewRez (originally named New Penn Financial) brings a unique combination of mortgage expertise, financial strength, and product innovation capabilities to the lending table. They are dedicated to delivering exceptional lending options with an easy application process to both our customers and strategic business-to-business partnerships. With offices across the country, including their Philadelphia area headquarters, each of their employees goes the extra mile to redefine the standard of excellence in the mortgage industry - all while keeping client best interests in mind. This is because they believe the lending business isn’t about financial transactions. It’s about people.
Scope of the Project
NewRez engaged Elire because of our strategic partnership with Kyriba, as well as Elire’s background in supporting REITs and home mortgage clients and their transactions. Elire was engaged to implement the following functions with Kyriba:
- Bank Account Management
- Bank Fee Analysis
- Cash Management
- Cash Forecasting
- Cash Accounting
- Direct Debits
- Payments and Payment Factory
- Internal customer interfaces to Microsoft Dynamics and multiple homegrown payment systems
- Bank Connectivity with four financial institutions
This project posed a series of obstacles around its integration requirements with NewRez’ homegrown payment systems and the Kyriba Payment and Connectivity hubs, requiring unique design considerations. The project team also transitioned a critical resource a week before go-live.
Elire delivered success through utilizing the Kyriba Data Exchange in new configurations to support the integrations required with clients' custom payment systems to successfully process payments domestically. Elire completed this project on budget, and on time despite resource changes. Elire continues to engage with NewRez as a Managed Services customer to support their new Kyriba environment.