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Be it a commercial or a personal loan, today’s borrower has myriad options—and all that,
at his fingertips, thanks to technology. With rich and robust technologies, consumers can
now select the best loan provider that fits their needs, goals, and financial ability. Financial institutions for their part are taking advantage of this golden age of technology to know where to be when, selling which loan product to which customer. Consequently, every other aspect
of the entire lending lifecycle, such as NBFC functions, ledgers, balance sheets, loan demand generation, and report creation for receipts, payments, and profit/loss, is jumping on
the bandwagon of digitalization.
AI technology has started exhibiting its prowess in offering consumers a new level of convenience. The technology will soon be able to tell brokers when borrowers are ready to act. Brokers and lenders will be able to proactively reach out to borrowers, rather than wait for them to approach them. With blockchain, borrowers will be able to close on mortgages in shorter periods using decentralized ledgers and more secure processes. Digital mortgage platforms with APIs will help
facilitate communication between systems, including title, escrow, and more, facilitating borrowers to close on loans within a day or two, instead of weeks. As lenders prepare for 2019, it is imperative for them to understand the capabilities of next-generation technologies and leverage them to understand borrower needs to optimize their banking experiences.
Through a distinguished panel comprising CIOs, CTOs, VCs, and industry analysts, along with Banking CIO Outlook’s editorial board, we have evaluated and shortlisted the mortgage technology solution providers that have significantly stood out as some of the most prominent players in the industry. We present to you Banking CIO Outlook’s “Top 10 Mortgage Technology Solution Providers - 2019.”
Read more about the Banking CIO Outlook Award here
