Open Banking is a regulation designed to put you in control of your own transaction data. It requires banks to let you share your data with other banks and third parties so they can help you manage your accounts.
In the mortgage industry, early adopters of document automation technologies were underwhelmed with the results of their investment. The latest advancements in AI can cut the lengthy mortgage origination cycle significantly and reduce errors.
The challenges lenders face are numerous. And achieving sustainable profitability is difficult since customers are less loyal than in the past, regulation more stringent and the economic outlook still uncertain.