Annual conferences such as ALTA One are usually great to network with Title agents across the industry and to get to know what matters to them. It is nice to understand business trends and key focus areas across title agencies. This year, some of my colleagues were at ALTA One and it was interesting and insightful to interact with title agents and understand their key focus areas. While there were varied opinions on topics like managing the brand’s online presence, hiring the right talent, managing fraud & privacy, technology investments, a lot of title agents confirmed continued focus on business growth & renewed technological investments as a priority area.
Driving Business Growth
Based on discussions with some of the experts we met, it is clear that business growth is possible, only if you cultivate a culture of innovation in your company, along with investing in the training & growth of your people. In today’s world, we need to add one more key ingredient to this combination, and that is, leveraging and investing in the right technology. The combination of it all can ensure a path of optimal growth.
In today’s fluctuating market and changing regulations, it has become imperative for title agents to stay updated to be on top of their game all the time. Having the right knowledge, domain experience, and automation with newer technologies gives you a competitive edge. While it’s impossible to invest in all growth aspects at one time, many senior title executives we met were looking to partner with service providers who have most of these items covered in their offerings menu.
Technology Trends of today
While we witness a continuous technology churn, one thing to be sure of is that technologies such as Artificial Intelligence, Machine Learning, and RPA are here to stay. There are significant developments and investments in these technologies, as title agents and lenders, alike are demanding more personalized digital experiences. Lenders are investing in these technologies to deliver an improved digital experience to borrowers and they expect title agents, their service providers, to also follow the same path.
In the future, title agencies can expect a lot more competition not just from other local or national title companies but also from technologically next-gen companies from all over the world, who have started providing a fully digital title process. Title companies that are aware of market conditions are looking to quickly partner with such tech firms who can give them this competitive advantage. This will ensure that they will be able to leverage these newer technologies sooner and maintain their competitive edge. Working with such service providers who have invested in the right technology will help title companies attract more customers, streamline operations, increase their market share and reduce costs.
Enable Growth with an outsourcing partner
Visionet has successfully supported 6 of the top 8 title companies with their bulk title search requirements. With its 20+ years’ experience in the title and settlement industry, Visionet delivers immense value to title agents with a unique ‘customer-first’ approach. Additionally, Visionet continually invests in the training of its people to be efficient in delivering title search, valuation, and QC services. With the latest technology being in the foreground of its solutions, Visionet offers D-TRAC (Digitized Title Research and Collation), which helps in improving accuracy and turn-time in the title search and helps process bulk volumes with ease.
Some of the essential features of Visionet’s D-TRAC include –
- Access to online data of 2000+ counties across the nation
- Automated Tool based data extraction and auto-generation of reports leveraging AI and ML
- Faster delivery with 98% accuracy
- Ability to onboard new client and begin processing work in just 1 week’s time
You can connect with a title and settlement expert to know more. Click here
Shamit is a vibrant and highly accomplished professional with rich experience of more than 10 years in Sales, Business Development, Service Delivery, and Operations Management, Project Management, Transition, and Process Re-Engineering in the BPO / ITES sector.
He has a thorough understanding of business environments and evolving business needs, change management, the capability to work with large and diverse skill-sets.