As a mortgage company, bank, or credit union operating in the modern era, with diverse interests and applications, you deal day-to-day with interface issues. Whether dealing with banks and clients, investors and realtors, the mortgage industry is fraught with the need for careful, confidential communication. One area where you need, and can maintain, control of communication is within your own applications.

Data harmony means getting all of your diverse technological solutions working together. Today we are going to talk about creating better data harmony with a cost-effective data interface solution.

Data Harmony: What and Why?

Perhaps you have had this experience: Employees in one department use one kind of software for data entry, while employees in another department use a different kind of software to monitor client data and produce reports. Perhaps, you have been reduced to the need to manually enter and update that data across your different software platforms. Data harmony finds parity between different systems and maps your data automatically, so that two data sets can "talk," increasing accuracy, reducing cost, and optimizing access.

The Cost of Failing to Maintain Data Harmony

The costs of failing to maintain data harmony are, for the most part, self-evident. You must hire and maintain staff who are able to confidentially and accurately enter data across multiple databases. Errors inevitability creep in, even with the best workers, and those errors cost money, potentially far more than the cost of paying employees for this data entry. Those are the obvious costs.

In addition, when you eventually decide to incorporate an automated solution, your problems will have multiplied. The longer you go with error-filled data, the harder it will be to untangle it later. The more these habits and workarounds become entrenched in your corporate mindset, especially with other solutions out there, the more of a headache you will face when it comes time to transition. In this case, as in most cases with technological advances, it is never too soon to start. Naturally, you will want to balance the cost of better data harmony with the cost of alternatives, but do not forget to add in those hidden costs.

Cost-Effective Data Interface Solutions

So, what can a data interface solution do for you?

A data interface solution, like Access Business Technologies’ MortgageExchange, will maintain continuity and synchronicity between your various mortgage platforms. Using a secure, private cloud, MortgageExchange moves your mortgage data seamlessly between dissimilar software platforms, breaking down data silos, eliminating mistakes and duplicate data, and saving you time and money.

Finding a cost-effective data interface solution will help your mortgage business maintain data harmony, while cutting costs.

Data Interface Success Stories

Perhaps you are wondering if Access Business Technologies’ data interface solution can work with your current software and what experience we have had in the past working with mortgage companies.

Well, at Access Business Technologies, we use our own proprietary, time-tested software, MortgageExchange--a fully configurable cloud-based connector software. We have broad experience developing custom solutions and making MortgageExchange work with different environments. Here are a few of our success stories.

• In 2015, we developed a custom interface solution for NASA. Well, NASA Federal Credit Union, to be precise. Yes, even astronauts need homes, on earth at least, and we help them get there. This connector works between Accenture Mortgage Cadence and FICS (Financial Industry Computer Systems), two popular and long-running mortgage accounting systems.
  
  
• Also in 2015, we helped satisfied customer Xceed to develop a new software solution, when they transitioned from Fiserv DNA accounting software (for which we developed a connector in 2012), to Dovenmuehle. In both cases, Xceed needed us to help their accounting software "speak" to Accenture Mortgage Cadence -- and we were happy to help.
• Lest you think we only work with Accenture's software, also in 2015, we helped the University of Iowa develop a connector between D+H Servicing Director and Ellie Mae Encompass.

That is to name only a few. Whatever your current mortgage systems are, MortgageExchange can help. Contact us today to see how ABT can get you started on the road to better data harmony.