3 trends to look for at the Digital Mortgage conference

The Digital Mortgage conference is an exciting opportunity for attendees to meet professionals from a wide variety of backgrounds and immerse themselves in a ton of tech-focused conversations concerning the digital mortgage landscape.

As you navigate from keynote speech to breakout session to showroom floor, people will be sharing a variety of topics, thoughts and opinions. The key will not only be filtering through all of this information coming at you, but more importantly, being prepared to proactively engage in these conversations and sessions.

The digital explosion is here!

In preparation for this important conference, here are the top three trends and topics in the mortgage industry to be aware of, so you’re ready for keynote speeches, breakout sessions and the inevitable conversations.

1. Customers are and will always be No. 1

Customer needs and expectations are changing. Not only do they want a personalized mortgage lending and servicing experience from the moment they request a loan, but they want it now!

These new types of customers are tech savvy and conduct the majority of their personal financial activities via smart devices. In short, they want a sincere relationship with their lender and an amazing customer experience at a moment’s notice.

That’s important, because experts believe customer experience will overtake price and product as the key brand differentiator across industries. That makes every customer’s interaction a chance to win or lose future business. Better communication and faster innovation to meet customer needs is what it will take to be successful now, and well into the future.

Lenders can jump-start this transformation by leveraging the valuable customer data they already have – via the account opening process and documentation, for example – to better understand the needs of customers and when to make the right product offer at the right time. They can join the 71 percent of financial services organizations who reported their use of information, including big data and analytics, to develop a competitive advantage over the competition, according to an IBM survey.

2. Transformation through a digital mortgage platform

The focus on customer experience brings forward the conversation related to digital transformation. With that said, organizations do not have to transform their entire operations (i.e. systems, processes, etc.) to ensure the customer experience is improved and efficient.

So, how can your organization transform by optimizing? Simple.

Access to information – a complete view of the customer, if you will – gives employees the power to answer questions, solve challenges and offer opportunities faster and more efficiently than ever before. And you can accomplish this with a simple, secure integration to a centralized platform.

Whether digitally transforming or optimizing, lenders and servicers must fully dive into the digital revolution occurring within the mortgage industry. Moving from paper-based systems and manually updating processes to a centralized digital platform is what you need to survive.

3. AI and machine learning are here to stay

Nothing can be more frustrating for a customer than having to wait for credit decisions or having to work through a difficult and time-consuming application process. Digitally automating these processes can revolutionize your loan origination cycle – providing faster, more accurate service.

That’s why many organizations launch their digital transformations in this area.

Tools that employ built-in logic, robotic process automation, intelligent routing and machine learning can serve the right information to the right users at the right time. This feeds into the overall theme – giving customers the experience they want and deserve, whether online or talking with a lender. By utilizing these advanced technologies, your organization reduces costs and improves speed, accuracy and transparency by minimizing repetitive, manual tasks and removing bottlenecks.

I repeat …

Prepare to be engaged in great conversations with great people. There will be many sessions with a ton of information presented at this year’s Digital Mortgage conference.

Make sure you devise a plan to capture as much information as possible to take with you and utilize at your respective organization. It’s great to learn, but if the information you receive at this conference does not transform into meaningful changes back at work, then your organization is missing a great opportunity.

I look forward to seeing you there! Stop by our booth and say hello!

In the meantime, get ready for the conference by learning more about digital mortgages.

Bryan Boynar

Bryan Boynar

Bryan Boynar is Hyland's global solution marketing manager for the financial services industry.

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