JPMorgan Chase, Wells Fargo and now Ally Bank have all outsourced a part of their home lending process to fintech startups; the move will help banks to become more efficient and drive higher profits for a segment that has lagged in recent years; there are still some banks like Bank of America who are building their product in house; Wells Fargo has partnered with Blend, JPMorgan Chase struck a deal with Roostify and Ally Bank recently announced a deal with Better; the banks are trying to capitalize on the fintech technology to make more of the mortgage process automated while still holding some of the loans on their balance sheet and selling others in the marketplace; fintech firms have put pressure on banks in recent years and now banks are trying to capitalize on this pressure by working with these startups to modernize. Source.