The FinTech industry is growing incredibly, and even the largest financial institutions have started employing automation in relevant cases. However, before the Covid-19 crisis, mortgage providers were ‘apparently’ not so inclined to pursue digitization. 

The COVID-19 pandemic has put a significant load on the mortgage industry as lenders are facing immense pressure while handling existing clients and entertaining incoming requests. The governments have rolled out different relief plans for borrowers, making the situation even more difficult for the lenders to keep their businesses alive and effective.