Bandwidth Powers Pennymac Cloud Migration to 50% Cost Savings, Faster Loan Closings

Published: 2025-07-09 09:20:32 ET PFSI

Published on 07/09/2025 at 09:20

Bandwidth Inc. unveiled a customer success story with Pennymac. By migrating to Bandwidth's cloud communication platform, Pennymac has realized more than 50% annual telecom savings and significantly accelerated loan processing time. This transformation was spotlighted in a recent American Banker article.

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 experiences, 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. The Pennymac success story demonstrates Bandwidth's position as a trusted cloud communications provider for innovative enterprises in the financial services space.