Even with technology advances and automated processes, bank productivity and efficiency can lag. For example, according to the Mortgage Bankers Association (MBA), mortgage loan production expenses for banks actually increased to $9,299 per loan in the first quarter of 2019, and productivity remained unchanged at 1.8 loans originated per production employee per month. While banks typically have a lot of data, they lack the ability to drill down into their banking operations and measure performance, cost effectiveness, customer service, efficiency, and more. This lack of insight can be crippling for…
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