To disrupt, or be disrupted, that is the question

content services and digital transformation

Detroit, aka “Mortgage City,” has been abuzz with industry disruption at the #MBATech18 MBA’s Technology Solutions Conference & Expo 2018.

The conference kicked off on Monday with Billy Beane, the Oakland A’s general manager and “the ultimate industry disruptor.” As depicted in the movie Moneyball, Beane famously disrupted Major League Baseball with his renegade approach to managing and staffing a ball club.

As Beane shared, it was never just about discovering on-base percentage, which scouts had not observed before, or learning to love players who didn’t look good in uniforms. It was about a business maximizing every resource available in order to compete in the game.

Today’s disruption of the mortgage industry is real, and it’s been showcased in Detroit all week. Led by the Mortgage City’s own Quicken Loans, Inc., mortgage lenders are displaying how their innovative applications of technology help them deliver the products, services and overall experience customers want.

Don’t compete, disrupt

Much like Beane, Quicken is also credited for challenging the status quo. Building disruptive technologies to simplify the mortgage experience – such as its continual evolution of Rocket Mortgage, the world’s first fully online, on-demand mortgage experience – is the key to Quicken’s achievements.

Not only has Quicken aggressively disrupted an age-old industry, it has also transformed the city of Detroit, which was on the edge of disaster a decade ago. More than 17,000 Quicken employees now occupy 12 buildings downtown.

Quicken has also invested more than $5 billion in the Detroit economy, resulting in $1.2 billion paid in state and local taxes and a $13 billion economic impact statewide.

Dan Gilbert, founder and chairman of Rock Ventures LLC and founder and chairman of Quicken Loans Inc., took the main stage at #MBATech18 yesterday. Gilbert said lenders must leverage technology to attract customers and remain successful.

Data will move faster and be more accurate.

Whoever can move faster and invest more time and effort in technology will succeed.

– Dan Gilbert

#MBATech18 challenges all lenders to embrace the digital transformation upon us. With outdated and siloed legacy systems unable to meet these demands, lenders have to decide whether they want to take part in this disruption or be among the disrupted. Its setting, Detroit – a city that has reinvented itself – has been the perfect backdrop to evaluate how to embrace the digital evolution and find new ways to compete.

Don’t get left in the locker room or sitting on the bench in the 4th quarter, become a digital disruptor and change the game!

Michelle Harbinak Shapiro

Michelle Harbinak Shapiro

Michelle Shapiro brings more than 15 years of experience in the banking industry to her role as Financial Services marketing portfolio manager at Hyland. Her mission is to share best practices and evangelize the power of ECM as a tool for banks, credit unions and lenders to help automate paper-based processes and proactively manage regulations.

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