How Technology Can Help Mortgage Lenders Stay Ahead Of Fintech Competitors – NMP

Address ‘Why’ when choosing

To equip sales teams for success, lenders need the right tools in place. These tools must be designed with the future of lending in mind and include the technologies and systems needed to execute marketing strategies at the right time and in the right place. When evaluating and implementing enterprise technologies, the two factors that organizations should prioritize are centralization and integrations.

Having a centralized system will allow teams to track and report on all sales and marketing activity across all channels. As a result, employees will be empowered to get to market efficiently and complete routine administrative tasks quickly, freeing them to tackle more fulfilling projects. Cultivating lifetime customers while gaining new ones is more important than ever, and having a unified delivery and collaboration system ensures that existing, new, and potential customers can feel personally understood.

Importance of integration

Once organizations have compiled the best solutions, they can optimize their technology stack. Given the rapid pace of innovation, these technologies will inevitably evolve at the same pace as business needs. As companies build their systems, it is imperative to avoid unintentionally limiting what systems can and cannot do, especially from an integration perspective. Today’s lenders have huge amounts of data to protect and manage. And consumer expectations have only increased – lenders now need to communicate with customers across all channels in record time.

Efficiency-enhancing technology solutions such as CRM and customer engagement platforms will provide traditional lenders with the advantages needed to compete with consumer-focused fintechs. These solutions allow businesses to support marketing and sales activities from a centralized environment that can help ensure the business is compliant with complex regulations – an essential tool to have in the service industry. financial. The right technology can also use data to gain insights into how customers and prospects interact with marketing and sales, helping them make informed decisions about how to better connect and engage. with them in the future.

Through an integrated technology approach, this enables smarter marketing across platforms, enabling the unified integration of other leading solutions to be used together, instead of working in siled operations.

Technology for strength

Digital transformation cannot be stopped. Traditional lenders can choose to onboard their teams, find and integrate the right technology that allows them to not only survive today’s transforming business landscape, but also thrive in the face of new fintechs and neobanks focused on consumers. Ditching outdated tools and embracing new solutions to help optimize business processes while scaling growth will be key to ensuring traditional financial institutions remain strong competitors.

Traditional players have a big advantage: the strength of their human customer relationships. While most fintech companies eliminate the need for personal relationships with their customers, traditional lenders can disrupt disruptors by leveraging technology that allows them to pursue a human-centric approach, which create a financially healthier world.

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