Discover how MicroStrategy empowers Freddie Mac clients in the mortgage and banking industry to evaluate mortgage market and performance data, compare themselves against other organizations, and optimize their lending strategies.
With increasing competition, market changes, expectations for accelerated digitization, and an exploding wealth of available data, the mortgage and banking industries are at an inflection point when it comes to digital transformation.
This is not only evident on the customer-facing side with the growing demand for intuitive, online applications and processes and faster response times. The same holds true for streamlining and digitizing internal information and processes, which often involves transmitting large amounts of data between interconnected stakeholders.
In a recent survey of senior mortgage executives on new technologies that could help mortgage lenders gain a competitive edge, APIs (application programming interfaces) was at the top of the list. Sixty-three percent (63%) of respondents cited this technology as the most likely to streamline processes.
A good example of this in action is a new web-based mortgage insights application introduced by Freddie Mac called ECO. ECO, which stands for Evaluate|Compare|OptimizeSM and leverages MicroStrategy 2019 technology, delivers an innovative way for Freddie Mac clients in the mortgage and banking industry to evaluate mortgage market and performance data, compare themselves against other organizations, and optimize their lending strategies.
Information that was originally 20+ pages of documentation and took two weeks to compile is now available to Freddie Mac's clients in near real time, in a single dashboard, which can be customized and viewed by users on any computer screen or mobile device. While the dashboard provides an executive summary view, users can also drill deep into the data to spot significant trends, compare their business with similar organizations in the market, share reports, and get all the information they need to make faster, better-informed decisions around purchases, affordability, credit risk, servicing, and more.
The new MicroStrategy platform is a powerful way for Freddie Mac clients to gain insight, create process efficiency and explore growth opportunities. We are committed to providing our clients with the latest innovative technology and tools to better serve their borrowers,” said Chris Boyle, Chief Client Officer, Single-Family, Office of the Client at Freddie Mac. Check out the video here:
This is just one part of Freddie Mac’s efforts to lead the digital transformation in the mortgage industry. Join Freddie Mac and MicroStrategy at the Gartner IT Symposium/Xpo, October 20 - 24, 2019, to learn more.