MaaS appeal: The top 3 reasons to switch to mortgage-as-a-service
April 20, 2023 / Jill Wilson | Ravikiran Achuthakumar
Short on time? Read the key takeaways:
- Mortgage-as-a-service (MaaS) is a value-driven, flexible and scalable solution that can help lenders keep up with the constantly changing mortgage industry.
- MaaS liberates you to focus on your core activities. The talent in your organization can channel their energy into improving customer experience and reimagining business processes.
- MaaS can be a cost-effective way to add capacity, new accounts or products.
- By partnering with a MaaS provider, you can benefit from the partner’s knowledge and experience while reducing your risk of non-compliance.
Regulations. Market conditions. Rates. Technologies. The mortgage industry is constantly changing.
Mortgage-as-a-service (MaaS) can help lenders keep pace. Stop worrying about capacity constraints, time-consuming change requests or how you’re resourcing your core mortgage system. Organizations are realizing the benefits of an “as-a-service” solution due to its cost-effective flexibility and scalability.
Scaling? No problem. IT resource challenges? MaaS can help. Need for speed? Capacity is quickly available. The bottom line? MaaS can open new opportunities while freeing resources to focus on higher-value tasks. Plus, MaaS can help your organization achieve a single-window view of branch operations and IT systems while embedding proven and specialized point solutions to drive business outcomes. Still not convinced of the “MaaS-appeal” of this service? Here are the top three reasons to consider a shift.
#1: Improved agility and scalability
MaaS offers a game-changing advantage: it allows you to expand your business into new sectors or launch new product lines more easily. You can add features and functionality to your software environment and schedule system and features upgrades at a time that works best for you, giving you control of when you upgrade, add to or change your application.
With MaaS support, the added workload won’t strain your resources or capacity. You can ensure agility for your business while quickly adding capacity for new products, employees or accounts, making the scaling process much smoother and helping to ease the burden of growing your business.
#2: Reduced administrative and IT workload
As your business grows, your IT headaches don’t have to grow with it. MaaS liberates you to focus on what truly matters — your core activities. Your team can channel its energy into improving customer experience or reimagining business processes and other valuable projects.
Your MaaS partner can host your core mortgage infrastructure and provide the experienced professionals needed to manage and maintain your environment while alleviating the burden of answering endless IT support requests.
#3: Enhanced compliance and regulatory support
When it comes to compliance and regulatory support, cutting corners is not an option. Ensuring that your business stays up to date with the latest regulations is crucial. That's where a MaaS partner comes in.
With their expertise in the mortgage industry and years of experience helping other organizations meet regulations, they know what it takes to keep you compliant. By partnering with a specialized provider, you can leverage their knowledge and experience to minimize the risk of non-compliance. Rest assured, knowing that your supplier will inform you of any impacts that regulations might have on your operations and adjust the solution to ensure your business runs smoothly.
Start growing your mortgage business today
MaaS may be the key to unlocking new possibilities and opportunities for your business. It offers digital transformation capabilities and personalized mortgage processing options that can simplify and streamline your operations. Integrating MaaS into your processes can increase your scalability and productivity while customizing your approach to meet your clients’ needs.
Plus, with Unisys' expert guidance, you can enjoy the benefits of MaaS without worrying about maintenance or upgrades. Learn more about how we can assist you in taking your mortgage business to the next level by contacting us today or visiting with us at the upcoming 2023 Building Societies Annual Conference in Liverpool.