Your Hidden 4th Door: Managing Technology with Ease
Written by Paul Bates- Senior Technology Consultant
Lending technology solutions available to smaller volume lenders have never been brighter. The new generation of offerings allows smaller institutions to have the same level of innovation as a larger player.
But, once you have deployed these solutions, how do you take care of them?
Many lenders lean on their internal IT departments to act as Lending System Administrator. While the IT team has the technical skills needed, the administrative piece of managing most systems requires extensive lending experience. The IT team generally lacks the depth of knowledge to understand the impact of changes.
Alternatively, the Operations Manager or a designee in the department generally becomes option #2. This person knows lending and knows how they want the technology to work, but might not have the technological expertise to execute. As with many smaller shops, the Administrator is already wearing multiple hats so there are bandwidth issues as well.
The third option is a full time Administrator. This full-time position can cost over $100K a year in salary alone, which is hard to justify.
What about the fourth option – Outsourcing on demand?
Did you know that Spillane Consulting Associates has Administrators with over 30 years of lending, secondary marketing, and technology experience, with an emphasis on relationships over transactions.
We keep our clients up to date with product features and enhancements and leverage the configurable nature of Optimal Blue to deliver innovative solutions. Our services address the unique needs of each of our clients. There are many reasons to investigate this option:
We are lenders first. Our consultants understand how your instance of Encompass relates to overall lending operations and the interrelationship of process, compliance and technology. We fluently speak all three languages, so we can effectively communicate and collaborate across your organization.
Access to SCA family of consultants. When you work with SCA you have access to the full family of SCA consultants ensuring expert support for efficient lending from the Board to the line staff. We regularly loop in consultants from other departments to assist as needed.
Cost savings. SCA can save you significantly as compared to a full-time administrator. This will make you a nimbler organization. By establishing a leaner business process through outsourcing your back-end functions, you will be able to adapt more quickly to changing in market volumes.
We provide both on-site and remote support.
A Service Level That Fits Your Needs
We will work to build an understanding of your organization and its unique needs in order to provide the optimal support package ranging from:
Technology Hotline – Open communication with the technology team, so you can get timely answers to any questions or concerns that might arise, providing critical time sensitive support.
Support for Your In-House Administrator - We will work hand in hand with your staff to support reconfigurations and enhancements on a project basis.
Fully Outsourced Administration – SCA will act as a full time Administrator on your behalf, relieving the strain and allowing your team to focus on their core responsibilities.
Custom Solutions – Support packages custom tailored to fit your organization’s unique needs.
Contact our Director, Bill Dolan, at WDolan@scapartnering.com or by phone at (617) 694-2617 to speak with us more about the ways SCA can assist with managing your technology administration solutions and more!
