3 change management tips to successfully adopt digital lending technology | Blend

3 change management tips to successfully adopt digital lending technology

A detailed and effective change management strategy is crucial for the seamless implementation of digital lending technology.

Business leaders will inevitably encounter adoption challenges whenever they implement new technology or develop new processes. Humans naturally experience skepticism when facing significant elements of change.

To help you sharpen your approach, we’ve put together a lending technology action plan that will maximize your team’s adoption of a digital lending platform.

3 tips for smooth digital lending technology implementation

At Blend, we’ve deployed our digital lending solutions across 130+ banks, credit unions, and IMBs of all sizes across the country.

Through our experience, we’ve found ways to minimize the friction points and maximize the impact of digital lending technology. Here are our three biggest takeaways.

1. Build a thorough communications plan

Determine the full scope of how new digital lending technology will carry out in your organization. What does the process look like, and what is the end goal?

Be transparent. Communicate with your team early and often. Be sure to explain what lending processes you’re changing, why you’re changing them, and when you’ll change them.

Meet with the biggest stakeholders to get them all on the same page. Define any essential roles that are necessary for the transition. Ensure everyone is on board and prepared for the new lending technology. If there are any concerns or questions, now is the time to iron them out.

2. Leverage the power of early adopters

Before fully implementing a digital lending platform, you need to first roll it out to select users who can diligently “beta test” and provide feedback, suggestions, or recommendations. Early adopters should serve as points of contact for others in your organization who need further assistance after deployment.

Choose early adopters who can act as evangelists that build encouragement and excitement around the transition to new lending technology. Not everyone on your team will be eager for a process change, so it’s important to have a group of individuals who can rally support and offer help to ease the transition as much as possible.

3. Develop a training and feedback program

Use feedback to drive continuous improvement of future lending technology implementation. Be sure to track all questions/feedback, troubleshooting errors, suggestions, and recommendations in order to make the improvement process as collaborative and as possible.

Share success stories and positive outcomes with your entire team to remind them how digital lending technology is benefiting your organization.

Make help and assistance easily accessible. Ensure you have specialists on your team readily available to answer questions or hold additional training courses. Be patient and remember that individuals adapt to change at different paces. Providing helpful leadership will make the transition much smoother for all.

Learn more in our resource guide: download the 7 Point Guide to Change Management now.

Why invest in digital lending technology now?

Mortgage lending technology has come a long way. Advancements in the industry prove that traditional lending processes are cumbersome, inefficient, and no longer match consumers’ expectations of a simplified, fast, and delightful user experience.

Now is the best time to flip the switch to digital lending technology. Solutions like Blend allow lenders to augment the lending experience without overhauling it completely, easing the digital transition for both borrowers and lenders.

Blend provides omnichannel solutions for lenders to meet borrowers wherever they are, at any time. Consumers can conveniently engage with lenders online, through an app, over the phone, or in person at their local branch.

In turn, lenders can offer an unmatched level of ease and flexibility that powers a five-star customer experience and increases long-term customer loyalty.

Get started with Blend today

Blend enables your lenders to be there for your customers on any channel, at every touchpoint.

Our platform’s advanced capabilities also eliminate tedious, manual work for both lenders and borrowers. Instant employment and income verification, automated conditions setup, and document upload and e-sign functionality are just a few of many productivity-enhancing features that Blend offers.

Explore the full suite of our innovative digital lending platform.