Okai brings years of tech leadership to Rocket as the company continues its strategy of AI-fueled homeownership
DETROIT, October 7, 2024 鈥 澳门六合彩开奖预测 (NYSE: RKT), the Detroit-based fintech platform company including mortgage, real estate and other financial service businesses, today named Venmo Chief Technology Officer and former PayPal technology executive Papanii Okai the Executive Vice President (EVP) of Product Engineering 鈥 effective October 7. In this newly created role, Okai will work with the company鈥檚 senior technology leaders to create AI-driven products at an even greater velocity.
鈥淲e鈥檝e all experienced technology that drives real impact in the world through Papanii鈥檚 work with Paypal and Venmo. Now, he will be using that skill to help revolutionize the homeownership journey,鈥 said Shawn Malhotra, Chief Technology Officer of 澳门六合彩开奖预测. 鈥淎fter serving in roles from a hands-on-keyboard engineer all the way to a CTO at both startups and large international tech companies, Papanii鈥檚 technical depth and track record for building high-performing and highly engaged teams makes him a valuable asset for us at Rocket. I鈥檓 looking forward to working closely with him as he helps us continue to evolve and elevate our technology teams.鈥
Okai joins Rocket at a time when the company is modernizing the homeownership experience for clients and partners by harnessing AI to create the most personalized, efficient and accurate process possible. The company created its own loan origination system 鈥 called Rocket Logic 鈥 that uses AI to identify and automatically extract data from the documents Rocket clients submit. A related tool, Rocket Logic 鈥 Synopsis, presents team members with searchable transcripts from calls, chats, relevant documents and data from Rocket Logic. With the company鈥檚 AI-powered tools, Rocket is projected to save more than 700,000 hours of time this year.
鈥淗omeownership is one of the most impactful things that can happen in someone鈥檚 life. It brings security, stability and can build generational wealth 鈥 which is exactly why I jumped on this opportunity,鈥 said Okai. 鈥淭he best way we can use technology is to make the path to homeownership easier, faster and more accessible. I鈥檓 looking forward to bridging the gap between technology and human experience, so people across the country, no matter where they are from, feel confident taking this life changing step.鈥
Okai spent nearly 11 years in technology leadership roles at Venmo, most recently as Chief Technology Officer and Vice President of Engineering. He led the technology and engineering teams who built and scaled products used by Venmo鈥檚 90 million users, while driving strategic initiatives that solidified Venmo as a leader in peer-to-peer payments.
Okai also led the engineering teams at PayPal, the global payments company serving more than 400 million accounts, holding many roles ranging from platform engineer to Chief Technology Officer for Branded Checkout and Vice President of Engineering for PayPal Giving. He oversaw the engineers, developers and product managers worldwide who powered PayPal鈥檚 payments platform used by both customers and merchants.
Okai will collaborate closely with engineers, product managers and design teams to build upon Rocket鈥檚 AI-powered products. His leadership will ensure that Rocket continues to deliver technically advanced, client-focused solutions that drive innovation and efficiency at every stage of the home buying process.
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About 澳门六合彩开奖预测
Founded in 1985, 澳门六合彩开奖预测 (NYSE: RKT) is a Detroit-based fintech platform company consisting of personal finance and consumer technology brands including Rocket Mortgage, Rocket Homes, Amrock Title and Settlement Services, Rocket Money and Rocket Loans.
With more than 65 million call logs each year, 10 petabytes of data and a mission to Help Everyone Home, 澳门六合彩开奖预测 is well positioned to be the destination for AI-fueled homeownership. Known for providing exceptional client experiences, J.D. Power has ranked Rocket Mortgage #1 in client satisfaction for primary mortgage origination and mortgage servicing a total of 22 times 鈥 the most of any mortgage lender.
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