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M R EP O RT | 25 COVER STORY BPO-type processes, which can yield a bigger bang per AI buck. Sivert: Every lender talks about digital, and most are beginning to talk about AI, but how many are fully embracing it? That is the magic question. AI in fintech market size is expected to reach $17 billion by 2027, and it's no surprise that AI and ML (machine learning), and intelligent automation will be at the heart of this. The true question is how much they are embraced. The refi boom is coming to an end, and now lenders need to streamline operations, become more efficient, and save money. Digital and AI processes are what will enable that. That is a fact. Sogorka: From Sagent, the industry can expect us to continue to execute alongside our customers every day as we build stable solutions that serve their most pressing needs. Data-first, cloud-native platforms that keep customers in control of their finances and financial institutions in control of their tech spend will spur rapid, ongoing innovation without surprises or waste. Mortgage tech companies that empower their customers to operate in the ways that they see fit will ensure they can come out on top of market consolidation opportunities as this cycle plays out. The winning firms of the future will maintain a fintech development mindset while delivering scale solutions and custom service at reasonable costs. Valentin-Smith: The industry can expect more, better, and faster digital and AI pro- cesses. We expect to see many new tools come to market over the next few years as developers, many from other industries, enter the mortgage space in the hopes of captur- ing market share before lenders clamp down on spending due to falling loan volumes. Whether lenders invest in technology from a new entrant or use new tools from their existing, trusted partners, everyone in the industry will go fully digital and they will leverage AI to make that process as smooth and profitable as possible. The days of lending without digital tools are now behind us. Q: How does your research and development arm gauge what the marketplace needs in terms of new product development? Hurst: RES.NET's mission is to offer a more holistic product so our clients can get the best technology available all under one roof by combining new proprietary solutions with third-party integrated tools, filling critical gaps that have fragmented the marketplace for many years. Since its inception, RES. NET continues to enhance its platforms to support the ebb and flow of market fluctua- tions, business requirements and regulatory changes. By constantly seeking feedback from clients, we focus on what their needs are, and what keeps them up all night. The team thoughtfully considers both short- and long-term solutions with focus on second and third order consequences. Understanding the consequences are the downstream ramifica- tions of change, the company is committed to garnering meaningful results for each of its clients. McGee: Since our entire business model is based on providing mortgage lenders with custom CRM platforms, we basically perform R&D on all our clients. We're much more sensitive to market demand because our job is to say "yes" to investing in R&D where other CRM providers say "no." This mindset allows us to discover and build new func- tionality more rapidly than other provid- ers and understand shifting trends in the marketplace. Pannell: DocMagic works closely with key members of the supply chain and our clients to make sure we're on the pulse of today and tomorrow's needs. We are constantly asking for customer feedback on the useabil- ity of our solutions to determine where our development resources should be focused. We conduct surveys to better understand what new feature/functionality to develop and what systems to enhance. Further, we also have a close eye on any compliance or regulation changes that affect the marketplace via our Compliance Department that works in tandem with our development teams. Our staff sits on many eMortgage Industry standard boards, and we are constant sup- pliers of content and expertise at conferences and training seminars. We believe that the best way to meet our customers' needs is to continue our efforts at being thought leaders throughout the industry, and build products and services that set the standards for tech- nology advancement. Paolino: Although LodeStar has a national reach, and we've grown exponentially over the past few years, our "research and devel- opment" still rests with a small team of our top people, who tend to have other titles. But it doesn't take an expensive survey or focus group to listen to your customers and the prospects that don't convert, as well. We stay in close touch with our clients, and take to Anywhere. Anytime. MReport Digital Bringing Today's Lending Headlines into Focus, MReport Digital Puts Mortgage Banking News at Your Fingertips Experts you trust. People you know. News you want. MReport is putting essential mortgage market news at your fingertips with our new digital edition, now available online via your smartphone, tablet, or computer. Enjoy the magazine at your desk, and tap into MReport Digital's easily accessible platform anywhere, anytime. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MReport believes it's time to think differently about the mortgage industry. Because the American Dream is evolving . . . are you? Subscribe to MReport and MReport Digital now! Call 800.856.8060 or connect with us online at themreport.com to take advantage of our special introductory offer! digital.themreport.com powered by THEFIVESTARINSTITUTE