Technology is advancing quickly, so having a tech partner to help you navigate the options and implementation is essential. “It’s also important to recognize that technology is only as good as the people behind it,” Yvette Gilmore, senior vice president of servicing product strategy, said.

“If you don’t have a partner who is working side-by-side with you, who understands how your unique business works day in and day out, it doesn’t matter how good the technology is,” she asserted. “You need a partner who will keep your business on the forefront, who can help automate changes and integrate innovations to make your business as strong as it can possibly be.”

Gilmore and Rajshekar Prabhakar, vice president, artificial intelligence, recommend looking for the following in a technology partner:

Business acumen

Having a partner who keeps your goals and needs in mind when making recommendations is key. “The ideal partner knows how to translate best practices and value-add priorities into technology offerings,” said Prabhakar. Given the broad range of technology options, they should recommend only those tools that align with your business goals and drivers. Your partner should be able to speak to why a particular solution is right for you, suggest ideas for process improvements and offer their assistance to continually aid your business. The goal is to ensure you’re not adding technology just for the sake of having the newest tools, but rather, for making measurable, sustainable improvements.

Flexibility and stability  

Your partner should be dependable and able to adjust quickly, always ready and able to perform no matter what the market may bring. “Look for a partner who has the capital to remain in business,” said Gilmore. “A lot of service providers are single-threaded, and as soon as one part of the business has any kind of change of cycle, all of a sudden you don’t have a partner anymore or they’re no longer investing in the business.”

Gilmore noted the longevity and track record of ServiceLink in both business operations and technology development and management. “We have been in business for decades, prevailing through every cycle, and have the resources to consistently improve our processes and invest in our people. We only staff people who are interested in your business; we’re not there to sell you things you don’t need. All of these things make us a superior partner.”

Deep industry expertise

Mortgage servicing is a complex science that requires an understanding of not only the customers, processes and internal policies, but also broader compliance regulations and guidelines. Your technology partner should have teams of experts who are well-versed in every aspect of not just mortgage technology but how the mortgage business works. Without an understanding of the servicing sector’s challenges and opportunities, a technology partner cannot recommend or integrate relevant solutions.

Strength and stability among the partner’s partners  

Technology companies are not islands; they work with third parties that provide them with certain resources and capabilities. Before you partner with a company, find out who they are working with to ensure their solutions are reliable and secure, Prabhakar advised. “Importantly, if a company’s solutions are cloud-based, you should make sure that particular partnership is with a proven, accountable partner,” he said. “ServiceLink partners with Microsoft for cloud services, so when we make our products available in the virtual world, we have great confidence in the high performance and security of those offerings.”

Technology plays a huge role streamlining the mortgage process and the right partners ensure it improves the experiences of your team and your clients. ServiceLink’s combination of experience, flexibility and stability to help you implement new technology effectively.

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