Rocky Stubbs, SVP and Head of Digital and Direct Lending, Flagstar Bank discussed the power of technology with MReport during the Five Star Conference and Expo, saying technology has improved vastly.
“I think the thing that is one everybody’s mind is how all these new technologies are available to us right now, but we are still trying to integrate them with very old legacy systems, sometimes multiple legacy systems,” Stubbs said. “That still presents a challenge to us, but I think it is getting better.”
Stubbs said “it’s not glamorous work” but it is the essential infrastructure work. He said the groups that are delivering the technology knew that integration was an issue for lenders. Stubbs said these groups have “taken a lot of ownership” over fixing the integration problems.
He added that these integrations are becoming more “grab and go” and there is no need to wait to ensure system match or integrate.