Malhotra is a proven technology leader with
decades of experience in engineering, product development and AI
strategy for tech and media companies, including Thomson Reuters,
Intel and Qualcomm
DETROIT, May 6, 2024
/PRNewswire/ -- Rocket Companies (NYSE: RKT), the Detroit-based fintech platform company
including mortgage, real estate and other financial service
businesses, today announced Shawn
Malhotra as its first ever group Chief Technology Officer
(CTO), effective May 6, 2024.
In this role, Malhotra will oversee the development and
implementation of technology across the entire Rocket Companies'
ecosystem, including Artificial Intelligence (AI) development, Data
Science, Product Engineering, Technology Operations and Information
Security – among other areas.
"Shawn brings a wealth of expertise and a transformative vision
to our technology teams. As we double down on our commitment to
technology innovation, Shawn will help us focus on delivering
groundbreaking solutions to our clients, partners and team
members," said Varun Krishna, CEO of
Rocket Companies. "Shawn's primary objective will be to increase
the rate of innovation and execution in the organization,
amplifying Rocket's AI initiatives. His fresh perspective and track
record of leveraging AI to simplify and automate processes makes me
confident that, together, we will quickly realize our vision of
AI-fueled homeownership."
Previously, Malhotra held a variety of technology leadership
roles at Thomson Reuters (NYSE: TRI). Most recently, he was the
Head of Engineering and Product Development for the entire company.
Under Malhotra's oversight, Thomson Reuters established a platform
to accelerate development of generative AI solutions, while
introducing an industry-leading AI assistant spanning all Thomson
Reuters products. Previously, Malhotra served as the CTO of Thomson
Reuters' Corporate Technology business unit. When he joined the
company in 2017, he was instrumental in founding Thomson Reuters'
Toronto Technology Centre, prioritizing AI talent and expanding TR
Labs – the company's division dedicated to research around AI and
other technological innovation.
"I am looking forward to being part of this pivotal time in
Rocket Companies' history and am eager to explore how AI can
simplify the path to homeownership," said Shawn. "I truly believe
in the transformative potential of AI technology. Few missions are
as crucial or deserving of its power as Rocket's goal of making
housing more accessible for all."
Before his time at Thomson Reuters, Malhotra spent 12 years at
Intel – including his time at Altera before the company was
acquired by Intel. He led Intel's Toronto Technology Centre, which
housed 200 software engineers, and was the Director of Software
Development. Malhotra started his career as a software developer
for Qualcomm.
Malhotra joins the company at a key time for Rocket. Just last
month, Rocket Companies announced Rocket Logic and Rocket Logic –
Synopsis. The tools use generative AI to quickly automate manual
tasks that humans would typically spend hours of time completing.
This includes classifying documents, extracting client data,
tracking sentiment and recording client patterns and preferences.
AI empowers team members to focus on what matters most,
building relationships with those on the journey to homeownership
and strengthening rapport with Rockets' millions of clients.
Malhotra earned a Bachelor of Applied Science degree in Computer
Engineering at the University of
Waterloo, where he graduated with honors. He also earned a
Master of Engineering degree at the University
of Toronto. Malhotra is credited with five issued US patents
and two published papers.
About Rocket Companies
Founded in 1985, Rocket Companies (NYSE: RKT) is a Detroit-based fintech platform company
including personal finance and consumer technology brands including
Rocket Mortgage, Rocket Homes, Amrock, Rocket Money, Rocket Loans,
Rocket Mortgage Canada, Lendesk and Core Digital Media.
The Company helps clients achieve the goal of home ownership and
financial freedom through industry-leading client experiences
powered by its simple, fast and trusted digital solutions. J.D.
Power has ranked Rocket Mortgage, #1 in client satisfaction for
both primary mortgage origination and servicing a total of 21
times.
For more information, please visit the Company's Corporate
website or Investor Relations website.
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SOURCE Rocket Companies, Inc.