Today, I’m honored to announce that Maxwell ranked as number 65 on the Deloitte Technology Fast 500™ list. Now in its 27th year, Deloitte’s list showcases the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. This year’s winners were selected based on percentage fiscal year revenue growth from 2017 to 2020.
Our ranking on Deloitte’s list is a product of the hard work Maxwell’s dedicated employees have undertaken over the past several years. Specifically, our product and engineering teams have been busy releasing offerings that enhance our customers’ ability to compete in the market. These teams take a lot of pride in innovating and continuously delivering new and exciting technology to our customers.
Building on top of the foundation provided by Maxwell Point of Sale to deliver a modern mortgage experience for lenders and borrowers, in April 2020 we launched Maxwell Fulfillment, providing technology-enabled, high-quality onshore loan fulfillment services. Then, in June 2020, we introduced Maxwell Diligence, an innovative quality control and due diligence solution. Most recently, we added Maxwell Capital to our suite of solutions to give local lenders increased access to the secondary market, resulting in higher margins and more competitive rates.
Together, these solutions make up the Maxwell Mortgage Optimization Platform. Designed with efficiency in mind, our Mortgage Optimization Platform uses automation, data insights, and thoughtful integrations to enhance, not replace, the mortgage professionals in the process. By leveraging leading technology, these products give a measurable advantage to the lenders that serve America’s communities. Our point of sale solution, for example, helps lenders empower their loan officers to close 15% more loans per month, while shaving over 13 days off their time to close.
Technology designed for America’s local lenders
In many ways, the fast company growth we’re experiencing reflects a strong market need for technology-powered solutions geared towards local lenders. In today’s rapidly evolving market, technology and innovation are changing lender operations and borrower expectations. Meanwhile, large lending institutions, with access to leading innovation, impressive funding, and economic scale, continue to vie for market share. While these trends have been present for years, the COVID-19 pandemic only solidified and accelerated their influence.
As these competitive forces grow, they raise the stakes across the entire industry. Market ebbs and flows have always existed, but now lenders need the agility to capture available loan volume while avoiding fixed costs. They need scale and secondary market access to offer competitive loan packages. And they need access to technology that empowers their teams to grow the business—all while wowing their borrowers with a modern, intuitive experience and top service.
This pressing need for innovative solutions that give local lenders a competitive edge motivates me, and fuels the rest of the Maxwell team to continue honing and expanding the Maxwell Mortgage Optimization Platform. Our roadmap for the rest of the year and into 2022, created with input from industry experts and Maxwell customers, includes solutions that we believe will enhance the efficiency, economic scale, and resiliency of our customers like never before.
Ultimately, our placement on the Deloitte Technology Fast 500™ list serves as another reminder of the demand for and impact of accessible solutions that give smaller players a permanent, disruptive financial advantage. We could not have made Deloitte’s list without the more than 300 lenders who choose us as their technology partner, and we plan to continue to channel mortgage and technology expertise to help local lenders across the country tackle the industry’s biggest challenges.