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August 1, 2019

Technology’s Peak Risk Phase

When shopping and comparing for a new LOS, it’s not enough to look solely at the features & functionality. Know the value of a quick implementation as you weight the fastest way to profitability.

Every time a lender changes strategy, it opens the institution up to risk. Of course, failing to keep pace with a changing environment is the greater evil, so we work to minimize the risks associated with change.

Among the riskiest changes a lender faces involves technology, and the point of highest risk for any technology change is the implementation phase.

Even though our industry has a library of thousands of tech implementation horror stories, this part of the process still gets ignored too often. In our new white paper, we take an in-depth look at technology implementation.

Among our findings: the longer the lender is involved in the implementation process, the more the lender is losing in missed business. We’ve run the numbers on this and found that for every additional 30-day period the implementation runs, the average lender is losing $3 million dollars.

Want to check our math? Download the new white paper “Lightning Fast Implementations Built on Proven Processes” today.