Feedback from clients and colleagues ensure a collaborative approach towards iteration
By need, arguably the purest motivation for any innovation, tech-powered platforms have emerged to dominate the mortgage space over the past few years – and it is precisely through relationships with clients and among industry colleagues that the requirements for these platforms have been determined, according to Grant Armstrong of Community Trust.
“We are constantly out asking our technology, industry, and business partners what they are seeing, what’s new,” Armstrong said in a recent tech roundtable by Canadian Mortgage Professional.
“What’s on their horizon? What are they trying to come up with so that we can be one of the first available to step into that marketplace?”
Community Trust Café embodies this collaborative approach towards iteration, Armstrong said.
Data collected through the platform allows the company “to understand our borrowers, the demographics, where are we succeeding, where are we having some opportunities… [and] really get to know our book,” said Armstrong.
“Technology is very fluid. It’s also got to be accessible and usable. Coming out with this great new technology solution that nobody wants to use is kind of pointless.”https://t.co/CCKHB1Jd1K#mortgagenews #specializedlending #mortgagetechnology
— Canadian Mortgage Professional Magazine (@CMPmagazine) July 10, 2023
At the same time, the cycle of feedback means that it’s incumbent upon the brokerage to put their platform through the paces to ensure that it’s up to spec.
“Take your time,” Armstrong said. “Find the tech that works for you. Go out and shop. Test drive them if you can. Challenge them. Question them.”
Ultimately, these improvements would pave the way for mortgage professionals “to be what they really are, which is trusted advisors I’m hoping it’s easy technology.”
