Author: Jason Frazier
In the Mortgage industry over the last six months, I have noticed a growing trend in automation and demographic generalization. For the most part, automation is a great tool to speed up efficiency, especially in the mortgage industry. Putting certain demographics in a generalized buckets for marketing and branding strategy is also a way to make your advertising easier. However, in my opinion both are being implemented the wrong way.
Automation is nothing new in business, even in an archaic industry such as mine. However, recently it seems that companies just seem to think that using technology to automate the mortgage process ("The Digital Process") is the same as improving the customer experience. Insert "wrong buzzer" sound here.
Sorry, not the same thing. Creating the digital process is awesome for the transaction process. It is. But technology is NEVER a replacement for the human element in a relationship driven industry, such as mine. And that's what...