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The Fast Pace of Mortgage Digitization

The mortgage industry digitization was actively gaining momentum prior to 2019 and the COVID-19 crisis. as much as 42% of lenders reported actively pursuing digitization, before social isolation and contactless services became relevant.

In 2019 the COVID outbreak forced people to expand their living quarters in order to adjust to working from home and to move to rural areas. The mortgage market digitization assumed an even faster pace. In fact, over 30 % of lenders, from big banks to online companies, reported that digitization played a major part in helping them deliver uninterrupted services to their clients and partners.

The value that organizations see in mortgage digitization can be narrowed down to four major benefits: