The Virtual Experience Top-5: Adapting to the COVID-19 Era
As COVID-19 continues to affect business operations, the mortgage industry has had to shift to remote work environments in the face of exceedingly high demand. Industry experts took a deep dive into this subject as part of Ellie Mae’s ongoing Virtual Experience 2020 event. Here are five key take-aways:
1. The virtual office may be here to stay: Many lenders are finding that they can do much more remotely than previously thought possible. The digital mortgage is an ideal tool for virtual environments, and lenders who adopt technology to better serve their customers are leading the charge.
2. Business continuity planning is vital: This is not a document, but an actionable muscle that needs to be exercised and tested regularly. Lenders who have this plan in place, and work with like-minded vendors and partners, have a distinct advantage.
3. The leadership paradigm is shifting: There is now a unique opportunity for mortgage industry leaders, not regulators, to dictate new norms and processes, adopt technology and build a better, safer, and more efficient market landscape.
4. Cyberattacks are real: Cyber threats are on the rise in the COVID-19 era. Remote workforce changes have increased vulnerabilities, and the bad guys are taking advantage. Lenders must fortify the security of their systems and train employees to be alert to possible threats.
5. Necessity breeds innovation: To quickly pivot to a remote work environment, it is key to approach the transition from People, IT, and Customer mindsets. Ellie Mae leadership shares what this entails and insights into evolving best practices.
The above insights are expanded upon in Virtual Experience 2020 sessions “Ellie Mae and AmeriHome: Pivoting Your Business During a Crisis”, “What You Need to Know About Pandemic Cybersecurity Challenges”, and “How Ellie Mae Mobilized to Become a Remote Organization”. Register for Virtual Experience 2020 now to watch these and other valuable sessions – all at no cost to you, and available until May 31.
Ellie Mae has also created a dedicated COVID-19 information hub to help you minimize disruption and keep your business in motion. Click here to sign-up to receive regular updates, important resources, insights, and technology.