Automation & Technology
Good to Know: Using Machine Learning to Your Advantage
Consider the following scenarios: You have two prospective borrowers with very different expectations and needs. One is a more anxious borrower, who calls you every few days to make sure the process is going smoothly. The other is an experienced borrower, who simply wants to get a text from you once the loan is approved and a closing appointment is set. If you have previously helped either of these borrowers, then data available through your system of record should trace past behavior and indicate best practices for future interactions.
However, if these borrowers are new to you, it may be necessary to tap their data elsewhere. This is where machine learning comes in. Machine learning consumes internal and external data, builds a borrower profile, and predicts the preferred experience for each borrower. The more data it consumes, the more the machine learns…and the more the machine learns, the smarter and more precise the results.
So how can this help you deliver a robust digital mortgage experience to your customers? We provide a comprehensive digital mortgage overview, including up-to-date borrower research data, in a new eBook, entitled The True Digital Mortgage – An All-in-One Solution for a Changing Industry. We’d like to share this exclusive resource with you.
Use this free eBook to gain insights about:
- Defining the true digital mortgage
- Borrower preferences across multiple touchpoints
- Insights on automation, machine learning and compliance