The newest board member at PennyMac Financial Services is an expert in enterprise artificial intelligence.

Tiffany To is the CEO and co-founder of AI and operational intelligence software company Ontollo.

"She has spent her career at the forefront of AI and business transformation, building products, leading organizations, and helping enterprises turn technology into real competitive advantage," Pennymac Chairman and CEO David Spector said in a press release.

To is joining the PFSI board following a decision in its first quarter results to lower its return on equity guidance as a result of "meaningfully" accelerating its technology spend looking to drive "significant operational efficiency in both production and servicing," Spector said on the May earnings call.

During the call, Spector spoke about the deployment of the Vesta system for its consumer direct channel, which "has begun to drive operating efficiencies through the introduction of AI agents and the resulting reduction in previously manual tasks."

During the call, Pennymac said is using AI agents for the fulfillment process across multiple products.

"We are in a new stage of transformation and AI implementation with significant runway ahead to further optimize our platform, reduce unit costs and capture additional economies of scale," Spector said on the call.

Before founding Ontollo, To was executive vice president and general manager of enterprise and platform at Atlassian, where she led the enterprise business and platform teams to build an AI-driven knowledge work system for its customers. She was also the chief operating officer at ForAllSecure, plus also held leadership roles at Cohesity, Coho Data, Nutanix, VMware, Intel, Silicon Graphics and Symbol Technologies.

"Pennymac has built something rare: a company with the data, the operational scale, and the genuine appetite to lead the mortgage industry's AI transformation rather than follow it," To said in a statement. "I've spent my career helping enterprises turn new technology into real business value, and I'm excited to bring that perspective to the board as Pennymac writes the next chapter of what a tech-first mortgage company can be."