Strategically Transforming the Mortgage Banking Industry

Strategically Transforming the Mortgage Banking Industry
Author: James Deitch
Publisher:
Total Pages: 294
Release: 2018-10-06
Genre:
ISBN: 9781724053862

"In mortgage banking, there is no strategy. The government tells you what to do. You do it or face litigation and enforcement. That's why the business is so commoditized." This is a startling assessment of the state of the mortgage banking business and comes from an executive in the industry. This individual was serious. Many in our industry appear to accept the 'no strategy' view of our business. If you concur, then read no further.In my opinion, 'no strategy' cannot be the answer, especially at this point in mortgage banking's history.I can understand why so many are entrenched in the idea of 'no strategy.' It's true that the residential housing and lending space in the United States is one of the most regulated areas of the economy-- sometimes oppressively regulated. It may sometimes feel like regulators 'tell you what to do.' But there are many choices that can be freely made by mortgage executives. Some executives, in fact, are rapidly examining strategy and becoming disruptors in the mortgage banking business.There are choices--strategic choices. We need to learn from these as an industry and learn to leverage these proactive solutions across mortgage banking. Our culture and industry are going through some seismic changes and it behooves us to keep up, adjust, and leverage true and active strategy against a 'shifting tide.'

Disruptive Fintech

Disruptive Fintech
Author: James Deitch
Publisher: Walter de Gruyter GmbH & Co KG
Total Pages: 279
Release: 2019-12-16
Genre: Business & Economics
ISBN: 3110651432

Throughout history, innovators have disrupted existing financial services norms to change the landscape of the marketplace. Disruptive Fintech briefly traces fractional reserves, the creation of bank currency that traded at a premium to bullion value, central bank regulation, securitization of assets and loans, the current state of digital currency and electronic payments. The author then looks toward the future of fintech and the forces of disruption that will change the landscape of financial life as we know it. Using over 100 interviews with thought leading CEOs, this book develops a methodology to identify financial services that are ripe for innovation and discusses how innovative thinking can be used as a disruptive weapon to attack incumbents and create effective new fintech models. The book discusses How to relate historical innovations and disruptions in financial services to the current landscape How to follow a process to identify the threats facing incumbent processes and businesses, and how innovative thinking can be used as a disruptive weapon to attack incumbents and create effective new fintech models How many fintech innovations will be constructed by re-arranging or re-purposing existing core processes In this insightful book, author James Deitch, CPA CMB, argues that some of today’s high-flying fintech innovators will flourish, but many may perish as the fire of innovation consumes those fintechs that are slow to monetize their promises.

Digitally Transforming the Mortgage Banking Industry

Digitally Transforming the Mortgage Banking Industry
Author: James Deitch
Publisher: Createspace Independent Publishing Platform
Total Pages: 272
Release: 2018-02-28
Genre:
ISBN: 9781985668171

Digitally Transforming the Mortgage Banking Industry goes far beyond the typical mortgage industry one-size-fits-all "best practice" advice. It provides a clear explanation of the necessary cultural and technological transformations to create high customer satisfaction, improved employee retention, lower costs and increased profit in varying business models. Jim Deitch looks at the financial industry and its challenges though many different lenses that refract what most people see as a simple beam of white light into a wide range of wavelengths. For this book he has interviewed twenty-five high performing "maverick" CEOs who, like Jim, can see colors and opportunities invisible to most people. In addition to a powerful conceptual framework for the future, Jim provides fascinating exemplar stories of the good and the . . . not-so-good. Pre-publication praise for Digitally Transforming the Mortgage Banking Industry by industry CEOs follows: "Digitally Transforming the Mortgage Banking Industry" addresses the path forward for the Mortgage Banking Industry. It is written by a Chief Executive Officer and Entrepreneur, for "C"-Level Executives." "Informative, well researched and entertaining... with a clear roadmap for increased profit and customer satisfaction excellence." "A powerful read on the industry that will surely inform mortgage professionals on how to embrace technology and change company culture, all with a view to achieving customer satisfaction." "The book is written from the eyes of an industry CEO, for industry CEOs and their teams." "Jim builds a conceptual model to digest the rapid advance of technology and how to apply it as a "C" level executive. A clear road map to customer satisfaction excellence and outstanding profitability." "Success in today's mortgage industry depends on the combination of intelligent process and advanced technology. A must-read for executives seeking to understand the future of mortgage banking." "Simple yet informative, and conceptual yet practical, Digitally Transforming the Mortgage Banking Industry is a book designed to help a lender achieve best in class profits and customer satisfaction." "Detailed, Powerful, and Concise. Read it and share it with your executives. Jim describes the future landscape of lending, and how to prosper in the coming Digital Mortgage revolution." "If you're a leader in the mortgage industry or aspire to be one, this is a must read. Jim combines the expertise of current leaders with compelling data to help drive a successful approach in today's - and tomorrow's - mortgage market which is poised for disruptive efficiency improvement and to be well aligned with changing applicant demographics." "An interaction with Jim on the mortgage industry is always an education. Th is book is no different, managing to take the thoughts and information garnered from the interviews and painting a clear picture that Mortgage executives can easily interpret and apply to their business and see actual results from it."

Digital Transformation in Financial Services

Digital Transformation in Financial Services
Author: Claudio Scardovi
Publisher: Springer
Total Pages: 242
Release: 2017-09-04
Genre: Business & Economics
ISBN: 3319669451

This book analyzes the set of forces driving the global financial system toward a period of radical transformation and explores the transformational challenges that lie ahead for global and regional or local banks and other financial intermediaries. It is explained how these challenges derive from the newly emerging post-crisis structure of the market and from shadow and digital players across all banking operations. Detailed attention is focused on the impacts of digitalization on the main functions of the financial system, and particularly the banking sector. The author elaborates how an alternative model of banking will enable banks to predict, understand, navigate, and change the external ecosystem in which they compete. The five critical components of this model are data and information mastering; effective use of applied analytics; interconnectivity and “junction playing”; development of new business solutions; and trust and credibility assurance. The analysis is supported by a number of informative case studies. The book will be of interest especially to top and middle managers and employees of banks and financial institutions but also to FinTech players and their advisers and others.

Digital Project Practice for Banking and FinTech

Digital Project Practice for Banking and FinTech
Author: Tobias Endress
Publisher: CRC Press
Total Pages: 201
Release: 2024-03-13
Genre: Business & Economics
ISBN: 1003847595

New technology and changes in the regulatory framework have had a significant impact; various new players have emerged, and new business models have evolved. API-based ecosystems have become the new normal and collaboration in the financial and banking industry has reached new levels. Digital Project Practice for Banking and FinTech focuses on technology changes in the financial industry and their implications for business practice. A combination of practical experience in the field as well as academic research, the book explores a wide range of topics in the multifaceted landscape of FinTech. It examines the industry’s various dimensions, implications, and potential based on academic research and practice. From project management in the digital era to the regulation and supervision of FinTech companies, the book delves into distinct aspects of this dynamic field, offering valuable insights and practical knowledge. It provides an in-depth overview of various unfolding developments and how to deal with and benefit from them. The book begins by exploring the unique challenges and opportunities project management presents in the digital era. It examines the evolving role of project management and provides strategies for effectively navigating the complexities of digital transformation initiatives. The book then covers such topics as: Financial Technology Canvas, a powerful tool for facilitating effective communication within fintech teams Process automation implementation in the financial sector and related benefits, challenges, and best practices to drive operational efficiency and enhance customer experiences Robotic process automation in financial institutions Cyptoeconomics and its potential implications for the diffusion of payment technologies The efficiency and risk factors associated with digital disruption in the banking sector. At its core, this book is about real-world practice in the digital banking industry. It is a source of different perspectives and diverse experiences from the global financial and banking industry. .

DIGITAL TRANSFORMATION IN BANKING: LEVERAGING BIG DATA AND AI

DIGITAL TRANSFORMATION IN BANKING: LEVERAGING BIG DATA AND AI
Author: Kaushikkumar Patel
Publisher: Xoffencerpublication
Total Pages: 231
Release: 2024-01-10
Genre: Business & Economics
ISBN: 8119534743

There was a time when the banking business was differentiated by its traditional brick-andmortar operations; but, in the present day, it is at the forefront of digital innovation. It has become clearly clear that the moment for digital transformation in banking is certainly now. This is because the expectations of consumers continue to rise continuously, and the need for experiences that are both seamless and customised continues to grow. Through the use of cutting-edge technology and solutions that are centred on the user, financial institutions are able to enhance the services they offer, streamline their processes, and preserve their competitive advantage in an environment that is continually evolving. In addition to this, the emergence of disruptive fintech companies that are challenging the status quo is another aspect that is contributing to the growing need of adopting digital tactics. This is in addition to the fact that it is essential to provide services to customers who are wellversed in contemporary technological developments. During the fiscal year 2022, mid-size banks and credit unions raised their investments in digital transformation by more than fifty percent, reaching roughly four hundred and twentyfive thousand dollars for every one billion dollars in assets, according to a research that was just published by Alkami. This is an increase from the average of slightly more than $200,000 per $1 billion in assets for the fiscal year 2021, and it is only projected that this trend will continue to climb in the fiscal year 2023. This shows an increase from the previous year. In order for financial institutions to continue to provide their customers value, convenience, and safety in the 21st century, it is essential for them to take substantial steps in the process of modernising their operations as we go deeper into the age of digital banking. This will guarantee that they continue to provide their customers with these benefits.

The Digital Journey of Banking and Insurance, Volume II

The Digital Journey of Banking and Insurance, Volume II
Author: Volker Liermann
Publisher: Springer Nature
Total Pages: 362
Release: 2021-10-27
Genre: Business & Economics
ISBN: 3030788296

This book, the second one of three volumes, gives practical examples by a number of use cases showing how to take first steps in the digital journey of banks and insurance companies. The angle shifts over the volumes from a business-driven approach in “Disruption and DNA” to a strong technical focus in “Data Storage, Processing and Analysis”, leaving “Digitalization and Machine Learning Applications” with the business and technical aspects in-between. This second volume mainly emphasizes use cases as well as the methods and technologies applied to drive digital transformation (such as processes, leveraging computational power and machine learning models).