Machine learning is in practically everything these days and is prevalent in the insurance industry as well as the financial services industry. When combined with artificial intelligence, machine learning provides businesses from all different types of industries with the ability to streamline workflows and automate much of the decision-making process. One sector that's set to benefit most from machine learning is underwriting.
Loan processing automation is quickly changing the industry landscape. If you want to bolster your company's KPIs and become more efficient with your resources, software, automation and artificial intelligence can take a huge burden off your shoulders.
With mortgage interest rates at their highest levels in recent years, the mortgage banking industry is facing a period of hesitancy among prospective borrowers and existing clients alike. This is a time when lenders and brokers must do everything in their power to ensure that the pace of mortgage applications does not slow down too much, but they also need to watch their mortgage pull-through rates.
The 2022 National Conference for Canada’s Credit Unions (CCUA) event was a must-attend for anyone operating in the credit union space. Our industry is rapidly changing and we must all be prepared to educate ourselves on the state of the market, technology, and industry best practices.
Gone are the days when lenders rely on emails and accessing consumer information through unsecured systems. The Financial Services Regulatory Authority of Ontario (FSRA) is proposing guidelines to support the lending industry and cybersecurity preparedness. This is big news for the Canadian mortgage industry.