Technological innovation is of growing importance to the mortgage industry as they move beyond TRID. HousingWire staffer Brena Swanson spoke with Kelly Adkisson, managing director for Accenture's Credit Consulting Practice in North America, on where the technological innovation in the mortgage industry is heading in both the short-term and the long-term.
The two categories of innovation that she pointed out were efficiency and customer experience, which she said are both tied to customer acquisition and retention:
“Lenders’ short-term priority needs to be developing innovative customer acquisition strategies to maintain and grow market share, as well as improve efficiency to combat a sustained low interest rate environment. Longer term, tactics will include full integration of both customer acquisition and retention technologies, marrying automation with best-in-class digital solutions, including customer capture and origination platforms.”