One of the challenges lenders have with implementing new technologies is the need to fully test any new system before deploying it into production. No lender would risk a compliance violation by using a tool without testing, but few institutions have the resources in house to run a rigorous testing process.
This can pose as a tricky predicament. But it’s also an opportunity, says Monika Bhatla, the Head of Quality Engineering for Mortgage Cadence. She pitched a new service to company leadership and received an enthusiastic green-light to move forward.
As a result, Mortgage Cadence launched a new Testing as a Service (TaaS) offering. TaaS has been an exciting new development across a range of industries as companies everywhere are offered new technologies but lack the resources to test them.
In the past, lenders might invest in a tool and never get around to implementing it due to limited to null expertise or resources to do so, and testing was not being offered as a service they could take advantage of.
That’s all about to change.
A Solution to a Critical Need
Testing has always been a crucial, yet resource-intensive, component of the mortgage process. From ensuring the accuracy of loan documents to validating software performance, thorough testing is non-negotiable. With aggressive regulatory oversight, making a mistake has never been more serious, or costly.
“Many of our clients do not have testing teams in place,” Bhatla says. “By providing Testing as a Service, we’re giving them a helping hand, becoming their partners, and making their lives easier.”
And here’s the best part: the lender doesn’t have to buy Mortgage Cadence software to contract with the team. Bhatla’s department will provide complete testing of any system the lender wants to employ.
Initially, the idea was just to provide testing for our clients with custom configurations and third-party components that must work with the company’s next-generation MCP loan origination platform. The team has started providing this service.
The TaaS Advantage
At its core, the new TaaS team will offer lenders an outsourced solution for testing that combines expertise, efficiency, and cutting-edge technology. Bhatla’s team takes responsibility for validating everything from software implementations to the accuracy of loan documents, ensuring lenders can focus on their core business.
The benefits of TaaS extend beyond operational support. By partnering with experienced providers, lenders gain access to:
- Comprehensive Testing Expertise: TaaS providers bring specialized knowledge and methodologies, often exceeding what an in-house team could achieve.
- Reduced Workload: By outsourcing testing, lenders free their teams to focus on other priorities, knowing their testing needs are in expert hands.
- Enhanced Accuracy and Compliance: Thorough testing ensures loan documents and processes meet regulatory standards, reducing risks for lenders.
Building Stronger Partnerships
By working closely with lenders to understand their unique needs and challenges, Mortgage Cadence can now ensure every solution the lender employs is tailored and impactful.
As lenders continue to grapple with increasing regulatory scrutiny and operational demands, the rise of TaaS represents a timely and valuable solution. It’s not just about filling a gap—it’s about rethinking how testing is done, making it more efficient, accurate, and accessible.
To find out more about how the new Mortgage Cadence TaaS team can help you implement faster and earn a return on your technology investments, reach out to us today.
By Monika Bhatla, Head of Quality at Mortgage Cadence
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Alison Flaig
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