Commercial Bank Chooses HubSpot CRM, Integrates with Encompass to Empower Loan Officers
INTRODUCTION Forward-thinking financial services company improves loan processes with HubSpot and Encompass.
Instrumental Group started working with Quaint Oak Bank in early 2023 when we helped them adopt HubSpot's Sales and Marketing Hub. During the onboarding process, they required support to launch into multiple business units, retain vital data, and work effectively while launching multiple new websites.
One of the critical aspects of this process was to ensure that data was managed and retained to support loan processes for their mortgage company. The solution was to integrate with Encompass, a cloud-based loan origination software. This integration enabled loan officers to leverage HubSpot Sales tools and analytics to streamline loan processing fully.
The ultimate goal was to find an option that met their needs and overcame their challenges effectively.
PROJECT OVERVIEW
CHALLENGE Outreach to borrowers limited by disconnected data.
While marketing and business development teams, including loan officers, had already begun adopting HubSpot, they were still missing an efficient way to do outreach that kept key data in mind such as scenarios including the current loan status and multiple borrowers. Not only did they need to determine how to integrate the data from Encompass to HubSpot and vice versa, but they also needed to ensure they were properly tracking the data to serve a more digital outreach strategy for loan officers.
SOLUTION An integrated solution for loan officers.
HubSpot Onboarding
At Instrumental Group, we have a dedicated team of HubSpot Success Managers who are HubSpot Certified Trainers, ensuring they have a well-rounded and complete understanding of the entire HubSpot Suite. We introduced Quaint Oak's project leads, who collaborated with us to configure:
- Step 1: Sales and Marketing Hub Configuration: Our team helped configure global settings that overlap between Hubs, ensuring the team had everything they needed to deploy their initial campaigns. We built out marketing and sales assets aligning with the brand. Beyond that, we helped configure Business Units to support their multiple locations.
- Step 2: HubSpot Software Training: We facilitated a series of training calls covering Marketing and Sales Hub features, as well as sessions tailored to supporting Business Unit management. The training series fulfilled HubSpot's requirements to allow for waiving their onboarding consulting fees.
Encompass <> HubSpot Integration
Quaint Oak leverages Encompass for its Loan Origination System (LOS). They knew integrating data to support their Loan Officers would be a critical step in their ability to realize value and usability in the CRM. The ability to drive critical loan detail from their LOS into their deal records was the primary mission.
We collaborated with our API integration partners at Integrate IQ and the Quaint Oak marketing team to identify sync requirements to empower loan officers involving upwards of 50 fields across the contact and deal objects.
- Step 1: Loan Process Mapping. As we kicked off the integration, we had to fully understand and map the flow of the loan application process, accounting for multiple loans, borrowers, and the phases of the loan application process in Encompass.
- Step 2: Field Mapping. Once we understood the flow of the loan process, we focused on mapping the data points necessary to personalize communications - identifying which object those fields should be mapped to. The integration specifically mapped contact and loan information for borrowers in the mortgage process, starting from pre-qualification to closing.
- Step 3: Field Configuration. In HubSpot and Encompass, fields, workflows, and process changes had to be configured to support the data integration. With both systems ready, we moved into the next step. Throughout this step, we partnered with the Quaint Oak team to prepare Encompass for data integration.
- Step 4: Application Development. Our partners at Integrate IQ ran the API work. With a clear vision of which endpoints needed to map and destination fields in place in HubSpot, they architected the integration via API, writing rules for object sync per the specifications we finalized together.
- Contact information mapped to Contacts in HubSpot
- Loan information mapped to Deals in HubSpot
- Step 5: Validation and Testing. We collaborated with the Quaint Oak team to ensure that data in Encompass was accurately reflected in HubSpot. As we progressed, we validated that HubSpot accurately matched the current status across the loan and borrowers.
"We were extremely pleased with the integration build process from the communication to the knowledge and capability of the Instrumental Group and Integrate IQ teams. The integration is working as intended and designed, allowing us to manage the data in HubSpot more effectively"
Antonella Weidman
NEXT STEPS Connected loan data driving results.
With data connected between Encompass and HubSpot, the team at Quaint Oak is ready to fully leverage the Marketing and Sales Hubs to reach borrowers at critical points in their loan application journey.
They're also ready for another phase of integration and onboarding on the horizon. Our next project will be to replicate the integration process with their insurance quote software, EZLynx.
Our plan is to develop a one-directional sync from EZLynx to HubSpot, for a real-time sync of insurance policy and contact information. This additional visibility for the Quaint Oak marketing team will give them the customer data they need, in one convenient place.