Digital mortgage solutions offer numerous benefits. You’ll see greater efficiency in your practice, and your customers can benefit from fast, accurate feedback. However, implementing modern solutions can bring challenges. Here are four common challenges — and what you can do to overcome them.
1. Legacy Systems
Your first obstacle involves your current system. Digital mortgage solutions, such as customer relationship management (CRM) platforms, will be a major change. How will you ensure that you maintain data accuracy during the transition?
Start by cleaning up your current data to prevent duplicate, outdated, or inaccurate information from being transferred. Conduct a trial migration to ensure that data can be moved to your new system. Work slowly. You may discover that it’s easier to make the transition, and you’ll get the full benefit of a digital mortgage solution.
2. Resistance to Change
Some employees may resist the adoption of new technology. Some may be loyal to your current system. Others may worry that they lack the skills needed to thrive in a digital lending environment.
Overcome this obstacle in two ways. First, communicate the benefits of digital lending solutions. Emphasize that this will improve your client relationships, not replace them. Second, conduct training. Make sure that employees understand the user interface.
Over time, introduce users to the program’s advanced automation and marketing features. Your employees will discover that change makes their lives easier.
3. Integration With Current Workflows
New technology may disrupt current workflows. As a result, you and your staff may struggle to integrate digital tools into their day-to-day routine. This may also reflect a resistance to change. However, it may also stem from a demand for greater familiarity with the key features of digital mortgage technology.
Your software is designed to be as unique as you are. Customize your workflows to align with the goals of your company — or the goals of each department. These unique workflows make life easier for your staff. By using customized workflows, you’ll get more done in less time.
4. Data Security Concerns
Switching to a digital or cloud-based solution may raise questions about data security. Will your company and customer data be safe? How will you respond to suspicious activity?
Start by selecting digital lending software that shares these concerns. Today’s top providers offer advanced features that safeguard user data. You can also designate which users are (and are not) authorized to use your system.
And with advanced analytics, you’ll be able to monitor and respond to suspicious activity as it happens. The result? A platform that you and your customers can trust.
Digital Mortgage Solutions for Today’s Lenders
BNTouch provides a mortgage CRM with a robust library of features. Use the platform to build websites, send automated emails and SMS messages, and provide an online portal for borrowers.
Want to see these tools in action? Contact BNTouch today to schedule a demo. You’ll discover how our digital solution improves your practice as well as your customer journey.