All right. So, David, the topic I want to talk about, and I’m going to bring up the implementations. What I was going to talk about is, I was on the phone with a gentleman the other day, a friend of mine at a large credit union, and he listens to our podcast. So he’s going to hear this, there’s a challenge in our industry where people say you need an all in one system. But the reality is that all in one systems could, depending on who you are as a customer, not everybody, hold you back. They can keep you from being able to integrate with innovative solutions or partners. They tie you to a road map. They put you in a position where you’re forced to leverage only what they have. You have to decide when you’re looking at your tech stack. Are you looking for an all one solution? Is that fit your business model? Or are you looking based on market changes to be nimble and to make changes and try new things out to mitigate your risk with one or two different vendors? And so that also goes straight along with the implementation component. Every time you need a change, you have a roadmap that has many other products built into it compared to a company that jack of all trades, master of none. So you’ve got somebody who maybe they’re a master at a lot of things, but they could, and again, this is not for everybody. It’s for certain people tied down to specifically a roadmap that covers everything they do rather than focus on just what you need, which is what that company provides. And then lastly. What does it take to implement it? How much workflow? How much change? How much impact to all the other departments that you have? How much impact do trainings cost for consultants? All those different things. So I know we’ve talked about these things briefly. Today’s just a quick, brush on the surface, but keep that in mind as you’re looking at your tech stock, think about what your future looks like. Not just today, obviously the financial aspect of it’s a big deal. But do you need a vendor that’s nimble? Are you going to set up once? And you’re happy with what they have because they’ve got a best practice that you want to adopt. And that’s it for today, David.
[David] It’s good. Good stuff, Allen.
Allen Pollack, Tech Consultant
Allen Pollack, a Mortgage & Financial Services Technology Advisor, is a subject matter expert in the mortgage origination process along with software product management and software development.
In today’s financial services push to all things Digital, Allen has been helping lenders and financial services solution providers align their digital transformation and technology strategies by removing the human element of risk, and automating processes that drive efficiencies and margins into profits.
Over the course of his career, Allen has co-created and developed technology business models that have birthed highly successful, innovative solutions and companies.
Allen co-founded and served as CTO of New York Loan Exchange (NYLX), a loan product eligibility and pricing engine (PPE) that made an immediate impact on the industry, scaling the company quickly and forming partnerships with multiple mortgage and financial lending companies. In 2012, Allen was a co-founder of a merger between NYLX and Aklero Risk Analytics that created LoanLogics, A Mortgage Loan Quality and Performance Analytics company. Allen served as CTO where he continued to bring new and innovative product solutions to the market that made a significant impact to mortgage lenders that reduced risk, scaled business channels, and grew profits in a very competitive and highly regulated market.
Allen is also is mortgage and finance technology contributor on a weekly live industry podcast, Lykken on Lending, and is launching a new podcast soon to be released, TechStack Radio, dedicated to technology and innovation in Financial Services.