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e tech revolution in mortgage servicing continues,
challenging our industry to continue evolving to keep pace. As
the next decade unfolds, we will be presented with both fresh
challenges and ever greater opportunities.
Here's the catch: If your strategic vision
doesn't encompass these critical areas of
technology, that vision will remain blurry and
incomplete.
Rest assured, your competitors are factor-
ing tech into their plans. According to research
by global market intelligence firm Interna-
tional Data Corporation (IDC), organizations
around the world are accelerating their invest-
ments into enterprise technology platforms.
Mortgage servicers need to improve connec-
tions with customers, address the increasing
demands of privacy regulations and security
needs, and stay competitive.
1. PRIORITIZE THE CLOUD
e financial services industry has
historically been risk averse, and the adoption
of "cloud" and Software-as-a-Service (SaaS)
technologies has taken a while to gain
traction. Time has slowly changed that
perception, however, and today many servicing
organizations are strategizing with a cloud-first
mentality. According to a recent Accenture
Financial Services survey, 97% of respondents
said they had a cloud strategy, or were in the
process of forming one.
Emergent technologies such as the ones on
this list will increasingly compel servicers who
remain risk-averse to reconsider their options.
Leveraging managed services in the cloud to
bolster security and efficiency will allow the
industry to discover value in outsourcing the
management and hosting of infrastructure such
as:
» backing up data
» implementing the latest security measures
» maintaining and updating solutions to
ensure compliance with national and
international regulations
» scaling solutions as data needs fluctuate
» ensuring disaster recovery
Cloud computing is the future across
7 MAJOR
MORTGAGE
SERVICING
TECH TRENDS
Here are the top areas industry professionals need to keep in focus,
ranging from cloud integration to data management.
Feature By: Steve Comer
