Leo Loomie, SVP, Client Development at Digital Risk, an Mphasis company was recently featured in a BanklessTimes.com article, “Compliance a crucial aspect of real estate lending technology” talking about the non-negotiable compliance challenges in the Lending Technology domain.
Utilizing his experience in partnering with large banks, non-bank lenders and GSEs on managing loan compliance and incorporating digital platforms in ways that don’t violate lending regulations, Leo weighs in on the subject. Data aggregation and integration are key to reducing costs and providing a better buyer experience and through Digital Risk’s partner model it is easier to capitalize on that data, especially for startups who don’t normally have access to large amounts. “We do the heavy work of integrating the data. When you have good quality clean data then the sky’s the limit.” Leo said.
Artificial intelligence (AI) and machine learning play key roles in improving the lending experience, Leo explained. This technology also helps with compliance and at the point of sale it enables mandatory data to be captured without customer effort. Leo also believes blockchain can play an important role in this space. “It’s highly applicable on the back end when you look at regulation. It’s pretty secure and can be used as a recording device for mortgages, which is done a lot.”
Read the article in detail here :
To learn more about Digital Risk offerings, write to email@example.com