MReport October 2019

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 27 COVER STORY solutions. Instead, most are trying to enhance the experience by combining people with technology in the right way." Bechtel agreed. "Trust is a killer app. For so many people, purchas- ing a home is one of the most sig- nificant financial decisions they will encounter in their lifetime. They want to understand the process, discuss all of their options, and have their questions answered. Humans still want to talk to humans," he said. "As our investments in technology rise up to meet the ease-of-use provided by today's most innovative lenders, our expertise will continue to differentiate us. We believe this is a winning model." "While clients expect digital solutions, they aren't willing to forfeit the experts. It's not one or the other—it's both. Clients want the ability to be fully in control of their mortgage and fully sup- ported as well," Graziano said. "Some clients might expect 90% digital and 10% human interaction; others might expect 20% digital and 80% human interaction. Industry data has shown that most clients, including millennials, want human interactions at some point in the process. We feel that a hybrid approach best serves our clients— giving them the power of choice." Bank of America, Schleck said, was trying to marry high-tech with high-touch to enhance the consumer experience. "At any time, when you want a little more specialization and a little more help that you might not get on the digital app, we've got the option for consumers to talk to somebody face-to-face in one of our, 4,400 financial centers across the country." According to Richards, a personalized digital experience is what will make consumers stick in a highly competitive market. "If our industry continues to approach customer service with the notion that we should treat others as we want to be treated, we're in trouble because we only know what we know," she said. "Instead our focus should be on how they wan to be treated. We need to give our customers what they are used to getting in every other aspect of their lives by offering them a per- sonalized digital experience." Garg believes that fintechs walk the fine line between confusing a number with a person. "One thing a fintech mortgage player should keep in mind is to treat all prospective and existing clients as people. Companies are here to serve the consumer, we at Better. com value consumer experience and opinion. The human aspect will always be part of the mort- gage industry," he said. RADHIK A OJHA is a professional writer and editor specializing in the mortgage banking sector. She is a graduate of the University of Pune, India, where she received her B.A. in commerce with a concentration in accounting and Marketing and an M.A. in mass communication. Upon completion of her master's degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd covering the retail market and at Honeywell as an executive in corporate communications.

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