Guaranteed Rate Bolsters Digital Efforts with New Chief Product and Technology Officer

Rhea-AI Summary

Guaranteed Rate, a leader in digital financial services, has appointed Dr. Ramesh Sarukkai as the new Chief Product and Technology Officer. Dr. Sarukkai, previously with PayPal and Facebook, will drive expansion of Guaranteed Rate's digital product portfolio and enhance mortgage features. The company has a strong track record, having funded over $73 billion in 2020 and being named NerdWallet's Best Mortgage Lender for Online Loans in 2021. This strategic addition aims to strengthen Guaranteed Rate's position in the FinTech sector.

Positive

• Appointment of Dr. Ramesh Sarukkai will enhance digital product offerings in financial services.
• Guaranteed Rate funded over $73 billion in 2020, indicating strong market position.
• Recognized by NerdWallet as the Best Mortgage Lender for Online Loans in 2021.

Negative

• None.

CHICAGO, Nov. 19, 2021 /PRNewswire/ -- Guaranteed Rate, a leader in digital financial services, is pleased to welcome Dr. Ramesh Sarukkai as the company's new Chief Product and Technology Officer. The veteran Silicon Valley technologist will be responsible for expanding Guaranteed Rate's digital product portfolio into new financial services, as well as enhancing its current mortgage products and features.

"Ramesh's decades of experience driving growth and innovation at some of the biggest digital powerhouses makes him the perfect choice to lead Guaranteed Rate's technology efforts," said Victor Ciardelli, CEO of Guaranteed Rate. "I'm totally confident that he will add incredible value to our mortgage business and help us continue to expand into the FinTech space."

Prior to joining Guaranteed Rate, Dr. Sarukkai was head of engineering and product for Braintree/PayPal, head of payments at Facebook and led the YouTube monetization teams at Google. He holds a Ph.D. in Computer Science from the University of Rochester, is the author of the book Foundations of Web Technology and holds more than 50 patents (issued/pending).

"I'm thrilled to join Guaranteed Rate, which has successfully delivered modern digital solutions to reduce friction from critical financial services such as mortgage while maintaining a close connection with customers," said Dr. Sarukkai. "I look forward to helping the company leverage modern technologies, big data and machine intelligence to create a compelling experience that continues important transformations in the FinTech space."

Guaranteed Rate is well known as a leader in digital financial services. The company launched the first ever digital mortgage, which transformed the industry, and was named NerdWallet's 2021 Best Mortgage Lender for Online Loans. Guaranteed Rate also won HousingWire's 2020 Tech100 award for the company's industry-leading FlashClose^SM technology and launched the AI-driven tech startup Gateless earlier this year.

About Guaranteed Rate Companies:

The Guaranteed Rate Companies includes Guaranteed Rate, Inc., one of the top 5 retail mortgage lenders in the United States, Guaranteed Rate Affinity, LLC, and Proper Rate, LLC. Headquartered in Chicago, Guaranteed Rate Companies combined funded over $73 billion in 2020 and have more than 10,000 employees in over 850 offices across the United States. Founded in 2000 and located in all 50 states and Washington, D.C., Guaranteed Rate has helped homeowners nationwide with home purchase loans and refinances. The company has established itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. In 2017, the company launched Guaranteed Rate Affinity, LLC, a mortgage origination joint venture between Guaranteed Rate, Inc. and Realogy Holdings Corp. (NYSE: RLGY), a global leader in residential real estate franchising and brokerage. In 2020, the company launched Proper Rate, LLC, a mortgage origination joint venture between Guaranteed Rate, Inc. and @properties, one of the nation's largest residential brokerage firms. Collectively, the Guaranteed Rate Companies have earned numerous honors and awards including: Forbes Advisor's Top 10 Mortgage Lenders for 2021; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinancing by NerdWallet for 2021; 2018 Top Lender for Online Service by U.S. News & World Report; HousingWire's 2020 Tech100 award for the company's industry-leading FlashClose^SM technology; No. 3 ranking in Scotsman Guide's 2021 list of Top Retail Mortgage Lenders; Chicago Agent Magazine's Lender of the Year for six consecutive years; and Chicago Tribune's Top Workplaces list for seven consecutive years. Visit rate.com for more information.

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SOURCE Guaranteed Rate Companies

FAQ

Who is the new Chief Product and Technology Officer of Guaranteed Rate?

Dr. Ramesh Sarukkai has been appointed as the new Chief Product and Technology Officer of Guaranteed Rate.

What is the significance of Dr. Ramesh Sarukkai's experience?

Dr. Sarukkai brings extensive experience from leading digital companies like PayPal, Facebook, and Google, which will aid Guaranteed Rate's growth.

How much did Guaranteed Rate fund in 2020?

Guaranteed Rate funded over $73 billion in 2020.

What award did Guaranteed Rate receive in 2021?

Guaranteed Rate was named NerdWallet's Best Mortgage Lender for Online Loans in 2021.

What is Guaranteed Rate's focus under Dr. Sarukkai's leadership?

Under Dr. Sarukkai's leadership, Guaranteed Rate aims to enhance its digital product portfolio and expand into new financial services.