A Digital Year in Review: Top Blogs from 2018

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This was an important year for the continuing digital transformation of auto finance, mortgage, equipment finance and across the lending ecosystem. As we get ready for 2019, we’re taking one last chance to share the most read blog posts of 2018.

1.   Digital Mortgage Webinar Recap: What Exactly is an eNote?

Our most popular blog of 2018 reviewed eOriginal’s first webinar in our digital mortgage series. During the discussion, experts Simon Moir, eOriginal’s Senior Vice President and General Manager of Digital Mortgage; Margo Tank, Partner at DLA Piper; Brendon Weiss, MERSCORP Holdings Chief Operating Officer; and Shane Hartzler, Fannie Mae’s Director of eMortgage Strategy and Operations  spoke about the importance  surrounding the eNote – a digital promissory note – and explored its legal enforceability and industry adoption.

2.   When is a Digital or Electronic Signature Legal and Compliant?

Kicking off a topic that would re-emerge over and over throughout the year, this blog addressed the bitcoin craze – with an early look at why it was not yet ready for the lending industry. The blog explored issues around bitcoin trading’s substandard signature policies; far below what makes eSignatures compliant and legally enforceable. Driving the point home, was a clear and detailed explanation of what eSignatures are, how they work, and why they are recognized by regulators and litigators alike.

3.   eMortgage Boot Camp a Hit at the 2018 MERS User Conference

Summer saw an extraordinary event designed to satisfy the mortgage ecosystem’s ever-growing interest in all things digital. For the first time, June’s MERS User Conference in Reston, Virginia, was dedicated to discussions around digital processes in an eMortgage Boot Camp. Sponsored by Fannie Mae, the boot camp was designed to enhance expertise and increase understanding of digital mortgage’s true potential for increased efficiencies and cost savings. And if this blog leaves you hungry for more, you will find a link at the end for our on-demand webinar: Mortgage and the State of Digital Closings.

4.   Digital Contracting is the Future of Auto Finance and Here’s Why

How is the auto finance industry evolving with digital contracting? The blog’s popularity indicates that this is a burning question among our readers; one that required a detailed answer. Early adopters found that these technologies were playing a growing role in improving customer satisfaction, operational cost reduction and speed of funding. The considerable benefits, in turn, encourage more and more players to take the plunge, making it clear that the industry is firmly intent on becoming – and staying – digital.

5.   Digital Mortgage Capabilities Highlighted as Industry Necessity by Treasury Report

We were encouraged to see that the U.S. Treasury is paying close attention to advancements in technology as to how it relates to the mortgage ecosystem. The blog gives an overview of the section devoted to mortgage in the 223-page report, A Financial System that Creates Economic Opportunities: Nonbank Financials, Fintech and Innovation. The blog also provides insights not found in the report, with examples of successful adoption and proven benefits. Note that buzz around this report was so enthusiastic, that not one, but two blogs devoted to it made our top ten list. (see number 7, below)

6.   Lending-as-a-Service Requires Technological Excellence to Realize Potential

By early 2018, there was widespread agreement that back-office technological compliance and control was a major consideration for large banks interested in partnering with fintech lending-as-a-service (LaaS) platforms. This blog cites many sources, including recent research and media reports that laud the competitive advantages of LaaS in vehicle finance and other lending industries. It also provides several resources for readers who want further information.

7.   Responsible Fintech Innovation Gets Green Light from Treasury Department

In its aforementioned 223-page report, A Financial System That Creates Economic Opportunities: Nonbank Financials, Fintech, and Innovation, the Treasury included 80 recommendations for using technology and innovation to strengthen the country’s economy. This blog highlights the most relevant ones to our readers, stressing the importance of promoting a transparent, efficient and customer-friendly financial system that fosters innovation in financial technology.

8.   What a True Digital Transformation Can Do for Auto Finance

In spite of being among the first to fully embrace digital contracting solutions, the auto finance industry still has a way to go when it comes to widespread adoption. This blog highlights the incomparable advantages of digitization for dealers and lenders alike. A true digital transformation goes beyond eSignature—in fact, it enables asset sales, securitization and storage in a secure electronic vault. As a real-life example, the blog includes a link to our case study featuring car sales and finance enterprise JD Byrider.

9.   As Digital Lending Matures, It’s Still About Risk Management for Investors

As late as April, 2018 (and still today) questions about digital lending still abounded. Are digital contracts legally binding? What is deemed an ‘original’ in digital agreements? Is it possible to eradicate double pledging? This blog was one of the many channels we’ve used to address these questions, explaining the concept of a ‘digital original’ and why control of this asset is central to confidence for growing the online lending ecosystem. Check out the blog for a link to the popular and informative white paper: Creating Securitization: eCertainty in the Secondary Market.

10. 2019 is the Year of Digital Transformation of Auto Finance. Are you Ready?

An overarching message at Auto Finance Summit 2018 in Las Vegas was that technology will be a priority in 2019. How? That was addressed by Chief Product Officer of defi Solutions, Kartheek Veeravalli and the Director of FinTech Strategies at eOriginal, John Jacobs in a subsequent live webinar, Building Your End-to-End eContracting Experience in Auto Finance (find the live recording ). In this webinar, our experts discussed how auto originators and lenders can prioritize the building and expansion of the tech stack from application to origination, then to asset monetization through warehouse financing or securitization – everything you need to know to hit 2019 running.

Thank you for taking the digital journey with us in 2018. We look forward to sharing additional insights and continue to empower the digital financial ecosystems through trusted assets and transactions as it is sure to be an exciting 2019!