Morelity

Morelity was a subscription data analytics platform for financial institutions.

Acquired by K4.

Des Moines, Iowa  ·  2015–2018

What it did

Do More With Your Data.

The platform

Micro-targeted data enrichment, plus data science services.

Morelity broadened and deepened a financial institution's customer-centric marketing approach. Subscribers received targeted audiences every month and self-serve access to a cloud visualization platform for comparing, dissecting and profiling their own customer data against regional data.

Customer centricity

Securely enrich an institution's existing customer data to unlock cross-sell opportunities and predictive look-alike audiences.

Customer targeting

Custom audiences built per financial product, so marketing effort concentrated on the individuals most likely to need that product.

Data science & modeling

On-site, hands-on senior data science consulting alongside the subscription, including proprietary models built to an institution's own products.

220M+
consumer records
400
modeling variables
100
audiences / month
<12 min
to build an audience model

Figures as stated in Morelity's own 2017–2018 platform materials.

Who it served

Mortgage lenders — reverse mortgage above all.

The subscription went to market through a limited pilot program: ten partners, each receiving one hundred targeted reverse-mortgage audiences a month plus full use of the platform. Pilots were signed electronically, followed by a setup wizard, a hands-on tutorial, and then the partner's first audience requests.

Signed pilot pricing ran from $2,900 to $6,000 per month.

  • Reverse Market Insight — pilot and referral channel partner.
  • Open Mortgage — pilot partner, Austin, Texas.

Standards & IP

Built against the industry's own data standards.

Morelity worked against the Uniform Appraisal Dataset and the Uniform Loan Application Dataset under the Uniform Mortgage Data Program — the GSE specifications every lender's loan file has to satisfy.

In 2018 the company opened a joint partnership to develop distributed-ledger intellectual property, intended first for a partner platform and then as a ledger system integrable with others.

The team

A product team with data science at the center of it.

Morelity ran a dedicated data science function with its own seniority track, recruiting out of academic research as well as industry, supported by product, engineering and a national solutions desk.

Where they went next

Morelity alumni went on to found new ventures and take on technical leadership and engineering roles at companies including Google, Wizards of the Coast, Source Allies and codecentric.

Founder

Morelity was founded by Adil Khan, who led product from April 2015 to October 2018 — owning the platform roadmap, speaking for the company to the mortgage industry, and running partnerships and corporate development, including the distributed-ledger initiative and the GSE data-standards work.

History

Three and a half years, Des Moines.

  1. April 2015

    Morelity founded in Des Moines, Iowa.

  2. December 2016

    morelity.com live as a single-page application under the line Do More With Your Data.

  3. 2016 – 2017

    Data science team built out; platform and audience modeling in production.

  4. February 2018

    Pilot program in market at $2,900–$6,000 per month; Reverse Market Insight and Open Mortgage in the funnel.

  5. 2018

    UAD/ULAD work under the Uniform Mortgage Data Program; distributed-ledger IP partnership opened.

  6. October 2018

    End of Morelity's operating period. Acquired by K4.