Now that a majority of mortgage transactions are all-digital – or at least mostly digital – due to the pandemic, many lenders are now shifting their focus to the data being used to power their online, AI-driven, fully automated lending platforms – and how it can be best utilized to generate more business. In fact, data is now such an important element to so many businesses across so many industries and verticals that it has given rise to the term “Data-as-a-Service” (Daas) – which covers anything from data storage to integration to processing to analytics services delivered via the cloud.
So why is Data as a Service important to mortgage lenders?
Chris Flynn, Vice President and Division Business Director for First American Data & Analytics shares his insights as to why the mortgage industry can expect strong adoption of DaaS - in his recent feature as MortgageOrb Person of the Week.