Introducing Floify’s Borrower Single-Sign On (SSO)
Floify's new Borrower Single Sign-On (SSO) functionality has arrived, providing lenders and loan originators with a quick and simple way to make the mortgage process even easier and more secure for their borrowers.
What Exactly is Single Sign-On (SSO)?
Single Sign-On (SSO) is a centralized user authentication service in which one set of login credentials can be used to access multiple systems and applications. By using a single set of trusted credentials from widely-used platforms, such as Google or Facebook, users are able to streamline account creation and management when joining new applications.
How Does Borrower SSO Work in Floify?
Floify's Borrower SSO is an optional feature that can be enabled at the company level, by an admin, and will be turned off by default for users. Once enabled, origination teams will find that their Floify landing pages and 1003 loan application now present borrowers with the option to use Google or Facebook credentials to create an account or start their application.
Moving forward in the process, the borrower will continue to log in to their portal utilizing that same set of trusted credentials.
Unique Mortgage Company SSO Authentication
Floify's Borrower SSO also empowers mortgage companies using the OpenID Connect authentication protocol to integrate Floify with their company-specific user verification system. By allowing borrowers to use the same login credentials for Floify and the company's website, this unique customization enables a more seamless experience for the consumer as they interact with the company's brand.
Why Lenders and Originators Should Use Borrower SSO
By leveraging Floify's built-in Borrower SSO functionality, lenders and originators are able to reduce friction in the early stages of the mortgage origination process as well as provide critical boosts to their borrower's information security.
With the sheer number of systems that consumers interact with in their day-to-day lives, it should come as no surprise that borrowers aren't exactly knocking down a lender's door in order to create yet another username and password to log in to yet another account. But now, with Floify's Borrower SSO enabled, those consumers can simply use their Google or Facebook credentials to start a loan application or create their Floify account.
Not only does this eliminate frustration and friction, but it also makes it much more likely that a borrower that has paused their application will come back to complete it. No more trying to remember passwords or going through an annoying reset process!
Additionally, the same phenomenon that makes borrowers less likely to create a new account is the same one that pushes them to use less secure credentials when they do. Security analysts recommend using a unique password that meets a certain level of complexity for every different set of credentials that a consumer has. The average consumer will sometimes use the same password across multiple accounts or will use simple and less secure pass-phrases. With Borrower SSO, the consumer can focus on one single set of secure authentication credentials.
How to Activate Borrower SSO For Your Company
Floify's Borrower SSO can be enabled at the company level of your Floify account. The specific configuration is found in the company's Basic Settings. For a detailed visual walkthrough of this quick process, please visit the Floify Help Center.