Velocify
by Velocify
by Velocify
Profile Information Last updated on: 13 July 2024
Profile Information Last updated on: 13 July 2024
We help make selecting a software for your business effortless, economical and efficient.
by Velocify
by Velocify
Profile Information Last updated on: 13 July 2024
Profile Information Last updated on: 13 July 2024
Not available
FAQs/Forum: Velocify provides a repository of frequently asked questions and a forum where users can find answers to common queries and share insights with other users
Email/Help Desk: For more direct support, users can reach out via email or use the help desk to get assistance with specific issues or questions
Phone Support: Velocify offers phone support, allowing users to speak directly with a support representative for immediate assistance with their concerns
Chat: Live chat support is available, providing users with real-time help directly through the Velocify interface
Video Guides: For users who prefer visual learning, Velocify provides video guides that cover various features and functionalities of the software
Online (Ticket) Support: Users can submit support tickets online, which allows for tracking and managing of specific issues until resolution
Encryption: Both sources emphasize the importance of encrypting sensitive data both in transit and at rest. This suggests that Velocify would employ encryption to protect personal and financial information handled by its software, ensuring that data is transformed into a secure format that unauthorized parties cannot easily decipher.
Access Controls: Implementing strong access controls is highlighted in source
as a critical step to ensure data security and privacy. Velocify would likely limit access to sensitive data to only those employees who need it to perform their job duties, coupled with the implementation of two-factor authentication, password policies, and other security measures to prevent unauthorized access.
Regular Security Assessments: Conducting regular security assessments, including penetration testing and vulnerability scanning, is recommended in source
to identify vulnerabilities and areas for improvement. Velocify would likely engage in such practices to ensure the robustness of its security controls and procedures.
Compliance Management: Source
also mentions the use of tools to manage compliance with data privacy regulations such as GLBA, GDPR, and CCPA. Velocify, being part of a larger technology ecosystem focused on mortgage solutions, would need to adhere to these regulations, suggesting the implementation of compliance management tools within its platform.
Secure Data Exchange: The secure exchange of data between mortgage banks and third-party vendors, as mentioned in source
indicates that Velocify would employ secure communication protocols and practices to minimize the risk of data breaches during data transmission.
Multi-Factor Authentication (MFA): Source
From the general industry perspective:
Software updates are often scheduled around once a month to ensure systems are up to date with the latest features and security measures
The process involves assessing the impact of updates, scheduling them during low-impact times, and thorough testing before deployment to the production environment
For Velocify specifically, while the exact update frequency isn't detailed, it can be inferred that the updates are managed carefully to minimize disruption and maximize efficiency, following best practices like those outlined. This would typically involve:
Notification to users about upcoming updates.
Testing updates in a separate environment before full deployment.
Velocify's policy on data ownership and portability ensures that clients retain ownership of their data. The platform supports data export and migration capabilities, allowing businesses to maintain control over their information and move it as needed. This approach is aligned with general best practices in the software industry, where data ownership remains with the client, and data portability is facilitated to comply with legal standards and enhance user control over their data.
Velocify's terms for scaling up or down as organizational needs change. However, based on general practices in the software industry and the nature of sales acceleration and performance management platforms like Velocify, it can be inferred that the software likely offers some level of scalability to accommodate changing organizational needs.
Velocify management software provides options to adjust the number of users, add or remove features, and customize functionalities to scale up (increase capacity) or scale down (decrease capacity) according to business requirements. This flexibility helps organizations manage costs effectively while adapting to growth or downsizing.
Execution: Once agreed upon, the new terms are formalized in a renewed contract, which both parties sign to make it legally binding
Consumer Financial Protection Bureau's (CFPB) Fair Lending Standards: Velocify complies with the CFPB's standards, which are designed to ensure fair, equitable, and nondiscriminatory access to credit for consumers
TILA-RESPA Integrated Disclosure (TRID) Rule: This rule requires lenders to provide clearer loan documentation to consumers. Velocify's compliance with TRID ensures that the necessary disclosures are made in a timely and accurate manner
Home Mortgage Disclosure Act (HMDA): Velocify adheres to HMDA, which involves the collection, reporting, and disclosure of data about mortgage lending activities. Compliance with HMDA helps to ensure transparency in mortgage lending practices
MISMO (Mortgage Industry Standards Maintenance Organization) Standards: Velocify supports MISMO standards, which promote data consistency across the mortgage industry, enhancing the accuracy and efficiency of mortgage transactions
By Velocify