Our team was at the Mortgage Bankers Association's Technology Solutions Conference & Expo in Detroit last week and enjoyed speaking and sharing ideas with so many industry leaders.
The latest buzzwords - technology, digital, transformation - are all the...buzz. Below are key takeaways from the conference from our team and some of our clients.
"I think the tension between business and technology was most interesting to me, as I continually see this within the organization and one of my key focus areas on resolving in my role. Being as transparent to the business as possible about what IT is working on, what the priorities are, what we know is not working, what we are doing to improve, and the most important may be the effort put forth to ensure collaboration with the business and a strong feedback loop to IT to ensure constant improvement.
"I see larger enterprises sometimes are so focused on delivery, they lose focus on making sure the technologies align with the business and the problems they are facing in each of their diverse markets. There are more and more shiny objects and widgets out there in the FinTech space each day and ensuring there are IT and Business leaders that can collaborate together to ensure the right focus is on the right areas to solve the right problems is a core component to success."
– Dan Catinella: SVP, Director of Business Technology at Finance of America
“For me, the most exciting part about MBA Tech was the emergence of focus on the end user. It’s no secret that mortgage technology hasn’t always been at the forefront of innovation.Traditionally, mortgage platforms have a reputation for being clunky and confusing; couple that with design that hasn’t been updated in years and it’s obvious to see why technology and their business partners are always at odds.
"I was a part of many conversations discussing the evolution of user-centric design, focusing on both the external and internal customers. It’s not just about completing a transaction anymore. There is a real focus on creating technology that improves the customer experience while generating operational efficiencies that drive the business forward. More automated workflows on the back end and smarter UX design on the front end – you can have both.
"Our industry is ready to create platforms that rival the ease of use we’ve seen in other consumer-facing industries for years. It was evident at MBA Tech that as a group we have the thought leaders necessary to push the boundaries and change the perception of mortgage technology.”
– Katie Sweeney: Director of Product Management: Front-End Solutions at Pacific Union Financial, LLC
“The energy and enthusiasm from the partner community was infectious. We’re seeing best of breed solutions forging new partnerships with one another that will continue to drive the industry forward. As we continue to collaborate with complementary technology partners, our customers will be the primary beneficiaries from the integration and interoperability that result from this close collaboration.
It seems that every industry is talking a lot about digital transformation and disrupting the status quo. Particularly in the FinTech sector, there is an immense opportunity to modernize and digitize the way that banks and lenders interact with their partners and customers. By embracing an end-to-end ecosystem of joint-value, our customers will realize the true potential of digital transformation and maximizing value to their end users.”
– Brett Cadogan: Director of Strategic Alliances at Total Expert
“It was exciting to see the collaboration and focus on integration between technology vendors and partners at MBA Tech. Rather than individual vendors attempting to each be an 'all things to all people' platform, the future of technology is about being best of breed at your specialty and aligning and integrating with great partners. This allows lenders to provide their clients with their own unique and special customer journey, and their MLOs with the very best tools and systems in the industry.”
– Sue Woodard: Chief Customer Officer at Total Expert
We also had the pleasure of speaking with HousingWire at the MBA Tech Conference about the state of Digital Transformation in the industry. Watch that interview below.
At Total Expert, we are proud to be part of this group of thought-leaders and innovators that Katie mentions. We are pushing the boundaries everyday with and for you, our clients in the financial services industry.
Were you at MBA Tech 2018? Share your insights in the comments section below.