Opinion: 5 problems lenders have adopting automation and how to fix them

Source: National Mortgage News — 

Surprisingly, many lenders with a long history of AI automation have yet to find their stride. Large lenders found early success with declarative decisions (rules-based decisions) for many mission-critical processes, such as determining pricing and underwriting, but struggle with machine learning. Meanwhile, mid-sized lenders face obstacles implementing AI solutions because their packaged products can’t be customized, and layered solutions typically don’t fit naturally into their everyday workflow. 

Regardless of the size of your organization, the principles below have helped many lenders overcome roadblocks to AI automation success. 

​