April 04, 2018 11:18 AM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--Ranieri Solutions, a financial services technology investment firm founded by Lewis S. Ranieri, father of the securitized mortgage market, has partnered with Symbiont, the market-leading blockchain and smart contract company, to explore opportunities to use Symbiont’s platform to systemically improve all aspects of the mortgage industry. The combination of Ranieri’s deep knowledge of the mortgage market coupled with Symbiont’s expertise in deploying enterprise blockchain networks led to the partnership between the firms.
“The mortgage market, despite significant efforts, continues to lag behind from a technological standpoint creating inefficiencies that impact mortgage loans throughout their life cycle,” Mr. Ranieri said. “By partnering with Symbiont, a proven blockchain pioneer, Ranieri Solutions believes that together we can implement this transformative technology to bring necessary efficiencies, transparency, and security to the mortgage markets.”
Mark Smith, CEO of Symbiont, said the two companies were eager to take on the challenges of the mortgage industry. “When Symbiont was founded, it was my dream and vision to develop decentralized technology solutions that could solve the root problems that were at the heart of the financial crisis. Blockchain and smart contract technology is proving to be that solution,” he said. “To solve these problems alongside Lewis Ranieri, the genius behind modern securitized markets and his team is a once in a lifetime opportunity for me personally and a seminal moment in the history of Symbiont as an organization.”
Symbiont has developed the market-leading platform for institutional applications of blockchain technology. Symbiont smart contracts enable complex instruments to live their entire life cycle on a truly decentralized, enterprise blockchain network with end-to-end privacy. Financial institutions and governments are working with Symbiont to develop new business lines, increase transparency, reduce risk, and save costs. Industry leaders such as Vanguard and the State of Delaware have chosen to partner with Symbiont. Headquartered in New York City, Symbiont is a financial technology company founded by a team of experts in capital markets and blockchain technology.
For more information, visit symbiont.io
About Ranieri Solutions
Ranieri Solutions LLC is an investment company established by Lewis S. Ranieri to invest in, develop, and apply innovative technology solutions focused primarily on the real estate and mortgage markets.