This report by Barbara Hodge, Principal Analyst and Global Digital Editor, Shared Services and Outsourcing Network (SSON) was released in September 2020. It is argued that the mortgage industry is in desperate need of a “digital overhaul.” Automating data ingestion will underpin operational resilience, reduce costs and deliver new revenue streams as mortgage providers tap into customer and property data currently trapped in applications, contracts and valuations. The author predicts that swift, seamless workflows combined with reliable data analytics will become “game-changing” for the mortgage industry, and the extent to which the opportunity is taken up will greatly influence the success of different industry players.
Key words: artificial intelligence (AI), computer/network hardware, cloud & data analytics, protocols/standards, Internet of Things (IoT), employee productivity