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Ephesoft, JIFFY.ai Link For Mortgages, Financial Services

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Irvine-based software developer Ephesoft Inc. and automation technology company JIFFY.ai in Milpitas have teamed up to promote digital change in the financial services and mortgage industries.

“Our goal is to help mortgage lenders and underwriters accelerate the entire loan process so they can serve their customers better and faster,” said Ike Kavas, founder and CEO at Ephesoft.

“In such a competitive field with so many options, banks and mortgage companies must focus on delivering results quickly and easily.”

Kavas told the Business Journal on Jan. 4 the technology is for banks and mortgage companies so that they can help their customers—either individuals or businesses.

“Accessible data is critical to customer insights, performance and sustainability. With a strong footprint in the mortgage and financial services industries, Ephesoft understands that the customer experience must be prioritized, and speed is essential,” according to Kavas.

Ephesoft provides document processing automation and data enrichment, while JIFFY.ai provides enterprise-grade automation technology.


The partnership centers on what Ephesoft calls a “cloud-native, low-code HyperApp solution” to accelerate loan and mortgage processing. The HyperApp includes everything required to automate complex business processes from end-to-end, including design, building, deploying, monitoring and analyzing, according to the companies.

Ephesoft sees the service as part of the larger trend of consumers demanding immediate results.

“With the digitization of modern life, consumers have come to expect the same kind of real-time response and control from mortgage companies as they have experienced in other aspects of their lives,” Ephesoft says on its website. “As a result of pervasive services like two-day or even same-day delivery from Amazon Prime, TV On Demand and made-to-order Nikes, consumers expect underwriters to process loans and communicate with them in a similarly personalized, real-time way.”

The companies’ combined capabilities will accelerate the end-to-end automation of mortgage origination and loan processing by integrating intelligent capture, machine learning, robotic process automation and cognitive processing technologies into a single solution, Ephesoft said last month.

Ephesoft said that in the second quarter of 2020 alone, nearly $1.1 trillion in first lien mortgages were originated.

“However, even with this massive surge in volume, lender operations executives have relied heavily on staffing overtime and only 8% have turned to rely on technology,” according to Ephesoft.

“Ultimately, our partnership will help customers move faster in a highly competitive financial services market—especially at a time when the industry is experiencing unprecedented volumes,” said Babu Sivadasan, co-founder and chief executive at JIFFY.ai.

Another Irvine-based company, Cloudvirga Inc. co-founded by OC entrepreneur Kyle Kamrooz, is a fast-growing mortgage software company that is also accelerating the process through automation.

The company’s Digital Mortgage Platform increases transparency, reduces the time it takes to process and close a loan, and radically cuts overall loan processing costs, Cloudvirga says.

Still Hiring

Ephesoft’s software platform captures data from documents, enriches it with context and amplifies the power of that data.

Kavas founded privately held Ephesoft in 2010 and the company has offices in Singapore, London, New Delhi; Frankfurt, Germany; and Boise, Idaho, in addition to Irvine.

Ephesoft ranked No. 37 on last year’s Business Journal list of Best Places to Work in Orange County, among midsize employers.

The company was advertising for 10 open positions, ranging from e-learning specialist to senior sales manager in various locations as of Jan. 3.

Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal

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