InsightsExceeding Expectations in the Big Tech Era

The Value of the Iterative Approach to Technology Deployment in the Mortgage Industry

According to Cornerstone’s “What’s Going on in Banking 2019”, about 60 percent of credit unions and half of banking executives said partnerships and collaborations with fintechs will be ‘very’ or ‘somewhat important’ heading into this calendar year. A primary goal of these partnerships is improving the user experience, as some 82 percent of banks surveyed rated improving the customer experience as ‘very important.’

Partnering with a fintech is often the best path for improving the consumer experience – and choosing the right partner is essential. In the Big Tech era, there’s no room for error. For every operational failure or glitch, there’s another institution waiting to scoop up those dissatisfied consumers and provide a better experience. An excerpt from an article in the American Banker summed it up perfectly: “People have come to expect services that function perfectly, are available on demand and are increasingly personalized.”

This means that when selecting a fintech for partnership, you should select a company whose technology is already live, proven and ready for quick and frictionless implementation. You don’t want your business to be a fintech’s test case: partner with a company who has carefully and intentionally developed their technology with an emphasis on reducing the risk of implementation. Look for a fintech whose implementation strategy maximizes uptime and minimizes friction in consumer onboarding.

Iteration: A Measured Approach

The iterative model has the potential to require more time and resources from conception through execution than other methodologies. However, that labor should have already been done long before you sign a contract with them. When you partner with a fintech who relies on iteration, you can take advantage of a thorough process whereby issues and flaws have already been identified and resolved – without having to allocate your company’s own resources to work out kinks in the product.

This process is so valuable that iteration is what ultimately put Silicon Valley on the map. An article in Forbes claims that it was iteration, not innovation, that led to the success of Silicon Valley: “Iterative frameworks are being used often, and it is currently the primary way that companies are seeing success and growth. This makes it very important for leadership to understand and focus on iterative thinking.”

Iteration: How it Works

To identify a potential partner who has utilized the iterative approach, consider that iteration involves the following phases:

  • Planning
  • Analysis & Design
  • Implementation
  • Testing
  • Evaluation

In practice, such fintechs start by identifying a pilot group for the first stage of deployment. They continuously solicit feedback that is precise and pinpoints the issues that need to be resolved before moving forward. That way, necessary changes are more clear and easier to implement. An overall deployment cadence is developed after the first few successful phases of the rollout. This process is repeated and improved upon until 100 percent of users are online.

Ultimately, choosing a partner whose approach is measured, scalable and repeatable is the preferred course of action when deploying new technologies aimed at improving the user experience. After all, consumers expect the technology to not only live up to their expectations, but exceed them from the start.

User expectations were top of mind when developing EXOS Technologies, an established fintech company. The EXOS platform was initially piloted with a small group of appraisers more than 3 years ago. It matured within the ServiceLink organization, processing a large volume of consumer loans daily, before being offered to lenders and servicers as a cloud based, private label commercial technology. We continue to work with appraisers, signing agents, settlement agents and lenders to ensure our technology provides the best experience. To learn more about EXOS and how it enables lenders and servicers to complete their end-to-end consumer digital needs, visit

Contributors: Mikhail Cook, Sarah Kapis, Casey Shea

The material presented herein is of a general nature; opinions expressed herein are subject to change without notice. The information was obtained from sources deemed reliable. Such information is not guaranteed as to its accuracy.

Share this post

BlogMore from ServiceLink

Previous Post

Building vs. Buying Consumer-Facing Digital Mortgage Technology

View all posts

Contact Us

Can't find what you're looking for? Let us point you in the right direction.


TM ©2021 ServiceLink IP Holding Company, LLC, and/or affiliate. All rights reserved.