Click Cover to Read Digital Edition

AVAILABLE IN THE APP STORE
iPAD APP
iPHONE APP

UPCOMING EVENTS

 
Money20/20
November 2-6
Aria
Las Vegas
 
ABA National Agricultural Bankers Conference
November 9-12
Hilton
Omaha, Neb.
 
ABA Mutual Community Bank Conference
March 22 & 23, 2015
Marriott Marquis
Washington, D.C.
More events >  

<- Back

Share |

Print Friendly and PDF

LendingQB Shares Results from LOS Technology Evaluation Model

 

Oct 24 - LendingQB, an end-to-end browser-based loan origination software provider, revealed the results from its Enterprise Process Assessment engagements with clients and prospects, which is a workflow evaluation model designed to help lenders make objective decisions on their technology initiatives.

EPA findings show that:

The EPA provides lenders with a balanced and objective perspective on a vendor’s complete technology stack and uncovers issues that are not readily apparent to management. "Even large organizations that can produce detailed RFPs are not immune to what I term 'feature-enamored syndrome,' or poor weighting of technology demands," said David Colwell, vice president of corporate strategy at LendingQB. "We designed the EPA to be as an aid to existing evaluation methods. As a company that has successfully implemented systems for hundreds of financial institutions, our value to lenders is more than the systems we build. We want to contribute to a lender's success, whether they use our technology or not."

LendingQB developed the Enterprise Process Assessment as a tool to help lenders fully understand the drivers that motivate technology improvement efforts. "Research shows that upwards of 65 percent of complex software implementations result in failure," said Colwell. "Even for implementations that do succeed, more than a third of these projects go over budget. The goal of the EPA is to help lenders avoid being one of these statistics and achieve an optimal ROI that effectively addresses the technology goals they have in mind."

LendingQB unveiled their EPA model earlier this year, and conducted a series of webinars over the summer to help lenders objectively evaluate mortgage technologies. The EPA model engages lenders through in-depth interviews with lending executives and management, and is followed by detailed mapping of a lender's unique workflow, which then provides a framework for LendingQB to construct a custom survey that gathers productivity assessments from the lender's staff. A statistical analysis is then applied to identify key improvements and correlate data along with recommended technology objectives and a clear path forward roadmap.

About LendingQB
LendingQB is a Costa Mesa, Calif.-based company that specializes in loan origination technology solutions and services for the mortgage industry. The LendingQB LOS is a 100 percent Web-based, true end-to-end enterprise-class loan origination platform. The solution is designed to meet the needs of all types of mortgage lenders — large or small, wholesale or retail, correspondent or Internet-based — with specialized tools that are targeted, customizable and flexible. LendingQB uses a consultative technology assessment approach before engaging with new clients, and places a strong emphasis on the utilization of data analytics to assist lenders in leveraging business intelligence, resulting in optimized organizational performance and lowered cost per loan. For more information about LendingQB, please call 888-285-3912 or visit www.lendingqb.com.


Back