Exploring recent trends in digital originations for mortgage lenders, highlighting the role of fintech and AI in reshaping the lending process.
Estimated reading time: 0 minutes, 24 seconds
Automation will probably reduce headcount through the U.S. financial industry by 200,000 over the next decade, according to a study by Wells Fargo. So reports Yahoo Finance.
Wells Fargo analyst Mike Mayo said banks’ investment in automation can keep humans from having to do repetitive tasks such as inputting mortgage applications.
“You have a lot less errors, you need a lot less people to do it, and the customer is a lot happier too,” he said.
