We covered the basics of Einstein lead scoring in Einstein lead Scoring in Salesforce Sales Cloud – Mortgage Banking Technology | Origination Strategy Consulting (takefiveconsulting.com). In this article we will discuss how to Set up Einstein lead scoring in Salesforce Sales Cloud. Einstein Lead Scoring introduces a Lead Score field to leads, aiding loan officersin…
Choosing the right technology partner is a crucial decision for mortgage banks and lenders that can significantly impact operational efficiency, streamlines operations, and borrower satisfaction. To facilitate an informed decision-making process, the following essential technical considerations has to be factored in for ideal technology partner selection for mortgage banks and lenders. Define Business Objectives and…
The integration of Artificial Intelligence (AI) chatbots in mortgage services is a technology trend which is gaining momentum in recent times. These intelligent virtual assistants are revolutionizing the way borrowers interact with lenders, providing personalized assistance, and simplifying the mortgage application process and thereby enhancing borrower experience with AI chatbots. AI chatbots are advanced virtual…
In today’s era of digital mortgages, data modeling is essential for driving transparent analytics and streamlining the entire mortgage process. Data modeling in mortgage industry can provide a seamless experience for borrowers and lenders by optimizing workflows and ensuring compliance with regulations. Data Models in Mortgage Industry Statistical data models find applications within Mortgage Industry…
Mortgage lender can infuse every major decision to drive revenue, to control costs or to mitigate risks with data and analytics. Integrated risk management using risk analytics can trigger responsible and profitable growth for mortgage banks. Risk analytics in mortgage banking helps mortgage banks to identify, quantify and mitigate risks using data and analytics. Functional…
Big part of digital transformation in mortgage industry drills down to the number of data driven initiatives by mortgage lenders and banks namely AI/ML efforts, predictive analytics, data modeling and CRMs. Explosive growth in terms of total data volume poses many operational and data challenges in mortgage industry. Data challenges in mortgage industry The total…
While basic versions of analytic solutions focus on building data repositories and reporting, advanced predictive and prescriptive analytics can generate powerful insights. Prescriptive Analytics which use models to specify optimal behaviors and actions can be embedded as a part of real-time decision making process in the mortgage banking domain. Need for Prescriptive Analytics in Mortgage…
A robust and successful Data Analytics functionality encompasses more than a stack of technologies and is incomplete without getting incorporated into all key decisions across origination, sales, marketing, borrower experience and other core functions. So it is necessary to integrate Data Analytics into mortgage banking to aid the decision making process. How to integrate Data…
Faster and better data driven lending decisions requires timely and accurate information right at the fingertips of LOs and Lenders. Critical business decisions backed by real time data driven approach always prove to be more accurate and effective in the long run. Essential features of a BI dashboards for Mortgage Industry Advantages of BI dashboards…
Mortgage industry being an industry riding on data driven decision making is seeing a paradigm shift in which business decisions are generated different sources rather from a few decision makers. The advent of Big Data and making it available for the C-levels has made this unprecedented transformation possible in the Mortgage Industry. Data in the…