Bandwidth Powers Pennymac Cloud Migration To 50 Percent Cost Savings, Faster Loan Closings

Rhea-AI Summary

Bandwidth (NASDAQ: BAND) has announced a successful cloud migration partnership with Pennymac, a leading U.S. mortgage lender. The implementation of Bandwidth's cloud communication platform has resulted in over 50% annual telecom cost savings and significantly faster loan processing times for Pennymac.

The migration has enabled Pennymac to enhance its operations through advanced features including sophisticated call routing, conversational AI, and pre-built integrations. Key improvements include 24/7 automated payment options, expedited underwriting processes, and automated TCPA compliance checks. The transformation has been highlighted in American Banker, showcasing Bandwidth's growing influence in financial services communications solutions.

Positive

• Over 50% reduction in annual telecom costs
• Significant reduction in loan processing time
• Implementation of 24/7 automated payment options
• Enhanced compliance capabilities with automated TCPA checks
• Integration of advanced features including AI and sophisticated call routing

Negative

• None.

Top U.S. mortgage lender, featured in American Banker article, leverages Bandwidth's platform for dramatic efficiency gains, enhanced customer experience and improved compliance

RALEIGH, N.C., July 9, 2025 /PRNewswire/ -- Bandwidth Inc. (NASDAQ: BAND), a leading global enterprise cloud communications company, today unveiled a customer success story with Pennymac, a premier U.S. mortgage lender and servicer trusted by millions. By migrating to Bandwidth's cloud communication platform, Pennymac has realized more than 50 percent annual telecom savings and significantly accelerated loan processing time. This transformation was spotlighted in a recent American Banker article.

"With a customer-first lens, we are focused on maximizing new opportunities like AI and leveraging new tech to continuously improve the customer experience," said Mike Hogan, Pennymac's Chief Information Officer. "We chose Bandwidth to migrate our communications to the cloud because they are known for their reliability, communications integrations and exceptional customer support."

Beyond significant cost savings, Pennymac's partnership with Bandwidth improved business- critical performance metrics like time to close for each loan. By leveraging Bandwidth's modern cloud platform, Pennymac also gained advanced capabilities, including sophisticated call routing, conversational AI and pre-built integrations with leading marketplace technologies. This allowed the company to tap into rich metadata transported by IP voice calls, enhancing the customer experience and bringing new capabilities to analyze performance.

As a result, Pennymac's customer service communication is now faster and more agile, which combined with automation has expedited underwriting, shortening loan finalization times. Customers also benefit from new conveniences, including 24/7 payment options through Pennymac's automated contact center. This improvement saves time and boosts profitability.

Operating in a highly regulated industry, Pennymac also leverages its new cloud communications systems to support compliance and mitigate risk. With Bandwidth, the company was able to automate critical TCPA compliance checks for outbound calls, helping to ensure calls aren't made to anyone on the National Do Not Call Registry or outside reasonable hours.

"Pennymac is showing the financial services industry what's possible when you rethink communications as a strategic advantage," said John Bell, Bandwidth's Chief Product Officer. "By modernizing with Bandwidth, Pennymac has unlocked dramatic gains in cost efficiency, regulatory compliance and customer experience."

The Pennymac success story demonstrates Bandwidth's position as a trusted cloud communications provider for innovative enterprises in the financial services space. To discover the full impact of this partnership and watch the customer story video, click here.

About Bandwidth Inc.
Bandwidth (NASDAQ: BAND) is a global cloud communications software company that helps enterprises deliver exceptional experiences through voice calling, text messaging and emergency services. Our solutions and our Communications Cloud, covering 65+ countries and over 90 percent of global GDP, are trusted by all the leaders in unified communications and cloud contact centers–including Amazon Web Services (AWS), Cisco, Google, Microsoft, RingCentral, Zoom, Genesys and Five9–as well as Global 2000 enterprises and SaaS builders like Docusign, Uber and Yosi Health. As a founder of the cloud communications revolution, we are the first and only global Communications Platform-as-a-Service (CPaaS) to offer a unique combination of composable APIs, AI capabilities, owner-operated network and broad regulatory experience. Our award-winning support teams help businesses around the world transform their communications every day. For more information, visit Bandwidth.com.

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SOURCE Bandwidth Inc.

FAQ

How much did Pennymac save by implementing Bandwidth's cloud communication platform?

Pennymac achieved over 50% savings in annual telecom costs after migrating to Bandwidth's cloud communication platform.

What new features did Pennymac gain from the Bandwidth (NASDAQ: BAND) partnership?

Pennymac gained sophisticated call routing, conversational AI, pre-built integrations, 24/7 automated payment options, and automated TCPA compliance checks.

How did the Bandwidth cloud migration affect Pennymac's loan processing?

The migration significantly accelerated loan processing time through faster customer service communication, automated underwriting, and improved operational efficiency.

What compliance benefits did Pennymac receive from Bandwidth's platform?

Pennymac received automated TCPA compliance checks for outbound calls, ensuring compliance with the National Do Not Call Registry and reasonable calling hours.

Who is the Chief Information Officer of Pennymac speaking about the Bandwidth partnership?

Mike Hogan is Pennymac's Chief Information Officer, who highlighted their focus on maximizing AI opportunities and improving customer experience through new technology.