Madhavi Sabnis: Today’s AI-Powered Mortgage Platforms Require Employee Training

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CHARACTER OF THE WEEK: Artificial Intelligence and Machine Learning hold great promise for delivering completely seamless and fully digital mortgages. In fact, today’s leading lending and service systems provide automation and self-service at levels comparable to true “artificial intelligence.”

But today’s modern systems can provide a level of intelligence and “self-awareness” that far surpasses the rudimentary automation that previous systems served. With the introduction of artificial intelligence, the next generation of loan issuing and servicing software will indeed be able to predict with a reasonable degree of accuracy what a borrower – or a cohort of borrowers – is likely to do next. By integrating with real-time databases, coupled with AI-driven intelligent decision making, lenders and service centers will be able to correct problems and respond to rapidly changing market conditions, often before they even begin.

Many people in the mortgage industry fear that the emergence of AI systems will lead to job losses as more back-office processes become automated. However, as noted by Madhavi Sabnis, IndiSoft’s Customer Support Coordinator, AI / ML will ultimately serve as an aid to lenders and service providers rather than a headcount reduction tool. For this reason, lenders and services must pay particular attention to training their employees so that they know how to make full use of these new systems.

Q: Why is learning still so important with the advancement of technology and artificial intelligence?

Sabnis: Learning is a key component in learning, understanding and using the functions of any given system. Even with advances in technology and more widespread use of artificial intelligence, we still need to know how to use them in our daily lives and situations; otherwise we will all be stuck.

For example, when someone receives a package for a new product like Ring or Amazon’s Echo, the package will still include instructions and a link that the consumer can follow to watch a video tutorial on how to use the product. So in the end, training in one form or another is still vital.

Q: What have you learned about some of the key mistakes companies make when teaching their employees new systems?

Sabnis: One of the biggest mistakes is not fully understanding what is being taught. There are times when the simplest problem or task, such as logging into the system or finding a case, when no duplicate case is created, can be resolved internally without outside help. If the same employees do not pay attention during the training, they will not be able to use this feature and, in turn, will not be able to help their customers.

Q: How should companies approach training requirements for new systems?

Sabnis: Should be seen as a mandatory requirement for new and existing employees to undergo training in new systems; otherwise, they will not be able to use the systems correctly and will not be able to succeed in their work and / or role in the company.

Q: Which model is best for companies, unlimited access to training, or limited time to complete training?

Sabnis: Nowadays, it would be easier for the instructor if companies had a limited amount of time to complete the training, since it will be mandatory for the employee to take these trainings; otherwise, they will not be able to complete their tasks or projects. In addition, for the trainer, if an employee has a limited amount of time to complete the training, then trainers will not have to continue to plan and reschedule trainings for employees who have missed a session. The employee must be held accountable for participating in the training and must be held accountable for not completing his training on time. And trainers can move forward and deliver trainings on new system functions instead of repeating the same trainings.

Q: What will happen next, what will affect the training?

Sabnis: It can be one of two things that will affect training: additional training will be required due to constant changes or improvements to the system to keep employees updated on the latest developments. Another development will be an increase in the number of recorded training sessions that will be readily available to users via a link to view specific training sessions anytime, anywhere, eliminating the need for trainers.



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