From FinTech to RegTech
Using New Technology to Improve Loan Quality, Compliance, and Customer Engagement
New technologies for data management, analytics, mobile, and cloud have defined a FinTech revolution across financial services. In mortgage lending however, progress is often held back by the sheer number of data points, documents, and processes to integrate, check, and coordinate. In addition, the regulatory compliance at the state, federal, and loan investor levels adds a continuously growing layer of complexity.
However, a new revolution is emerging in the long-present but rapidly-advancing RegTech sector. By focusing on the quality of the loan record data, documents, integration, and workflow, lenders can simultaneously improve customer engagement, processing speed, and customer sales and satisfaction across the lending cycle.
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