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68 multiple industries and disciplines, and mortgage servicing is no exception. 2. EMBRACE REGTECH Mortgage servicers face a complex, ever- expanding regulatory landscape. Keeping up with those changes is an expensive and time- consuming task. Consider that, according to a Global Regulatory Outlook 2018 by Duff and Phelps, most financial institutions are committing 15% of their employees and 10% of their annual revenue to staying compliant with the complex regulatory web. Failing to remain compliant can impact both the business and its customers, putting a strain on company time and the bottom line. is can lead to fines, litigation, licensing implications, and damage to the corporate brand. In order to succeed, servicers are turning to regulatory technology to help solve these compliance challenges. Regtech employs innovative technology solutions to reduce costs by decreasing the time spent on compliance matters and the fines that can result from non- compliance. Other regtech benefits include: » automating compliance processes » acting as a source of internal governance » providing transparency and risk management through reporting » reducing the need for manual intervention » enabling better data analysis to quickly identify and remedy risks 3. BEGIN WITH BLOCKCHAIN As business processes generate more and more data, and digital transactions increase, the need for transparency and authenticity will continue to grow. Blockchain has emerged as a viable way to provide those assurances across industries. Blockchain is often primarily associated with bitcoin, ethereum, litecoin, and hundreds of other cryptocurrencies. Since its inception, however, technology vendors have been gradually expanding their visions for their own solutions to include the use of blockchain. During a lending approval process, for example, lenders could use blockchain to validate information such as title deeds, loan packages, and property evaluations from third-party providers—all in one place via the distributed ledger. "Blockchain technology may radically alter the process through which consumers buy a home, as well as the way financial institutions handle mortgages," stated a recent PwC report. "Specifically, the technology could remove cost and friction from the process, create transaction records that are infallible and incorruptible, and facilitate near- instantaneous settlement." Blockchain is poised to play an important role in both lending and servicing processes going forward, helping to ensure error-free, trustworthy data. 4. STRENGTHEN CUSTOMER DATA SOLUTIONS Customer experience is quickly becoming the key competitive differentiator, in both mortgage servicing and other outside industries. Keeping customers engaged is all about their experience, and that ties back to consumers controlling that experience. So, what do consumers want? Two things, according to a survey commissioned by Equifax: utility and choice. Regarding utility, Forrester says consumers are looking for the best way to complete a specific task, such as refinancing a mortgage or applying for a new loan. ey're looking for simplicity and ease-of-use, and if they enjoy the experience, they often stick with the brand for other services. However, consumers are also willing to engage with other lenders and servicers for other products, or even switch brands if they find a better experience. More than 40% of consumers, according to the survey, feel more secure if their monetary obligations are spread between servicers. is presents both challenges and opportunities for the mortgage industry. A robust content services strategy can give you a head start. Content services platform providers offer integrated sets of content-related services, microservices, repositories, and tools that Content services platforms can help you build the foundation for a 360-degree view of your customer. This can provide valuable insights into opportunities to up-sell or cross- sell to your customers, what campaigns you can run, and how to best track them.

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