Digital Transformation Solutions and Services
Alpha Technologies specializes in IT solutions for mortgage industry & financial organizations, helping mortgage companies develop loan processing in house platform. Whether your company have home brewed applications or vendor based, Alpha can help your mortgage financial organization graduate to the next level.
Our mortgage industry experiences revolve around migrating monolithic applications into microservices, tier by tier, layer by layer. Helping financial organizations not only transform their legacy applications, but entire architectures and ecosystems, regardless from what era these systems are.
Our Experiences in Financial & Technology Sector
Why Alpha?
Goal
Value
Alpha Technologies is a well-Oiled Machine, with not only staffing expertise at it’s core, but also an expert in working with specifically mortgage industry challenges in a managed services manner, agile fashion, ad hoc, or off shore + on shore resource augmentation manner.
What makes us different is our flexibility and agility in adopting to a fast moving financial & mortgage technical industry, through rapid adoption of innovative solutions that can help your organization reach the data closer to the data owners.
Technologies that make Mortgage Industry Digital Transformation Reality & Reasons for Picking Alpha
Innovative Areas of Expertise:
- AI/ML, NLP
- RPA
- Blockchain
- UI/UX
Overall Digital Transformation Areas of Expertise
- Unique Monitoring Approach For Legacy Business Logic Discovery
- Service Mesh & Cloud Native Application Support + Migration
- Monolithic to Microservices Transformation Expertise
- Zero Trust Security & Tech Enablement
Use Case
Problem
Solution
Many mortgage companies run legacy applications on traditional architecture. Many of these architectures run on technologies ranging from 1960-2010, being heavily outdated.
- Data owners are restricted by the traditional interfaces and boundaries of legacy stack.
- Employees who use to work in the mortgage industry back in the days, are already retired.
- Decoupling legacy tech stack requires specialized approach, reverse engineering the business logic without pulling the rug under the moving target.
- Finding the resources who can decipher the language and business logic for tech stack that is practically extinct is not that easy.
- Relying on internal staff to reverse engineer what’s present while simultaneously supporting the tech enablement and road map initiatives for the future, is not easy.
- Transforming tier by tier existing applications into Microservices, require not only well-versed understanding of what’s the greatest and the latest, but also mortgage business industry knowledge.
- Traditional Oracle and SQL databases are rapidly becoming the days of yesterday, coexisting between the two while gradually transforming for the future requires resources with knowledge from both worlds the future and the past.
- Traditional networking infrastructure getting replaced with sophisticated service mesh networks, navigating across high cardinality moving parts, requires delicate CI/CD approach.
- Monitoring the newly migrated loan processing application architecture and monitoring the before migrated architecture, requires advanced knowledge of different types of monitoring & sniffing tools.
- Applying machine learning and Blockchain functions within the mortgage sector without transforming your applications can be very challenging.
- Mortgage industries are highly regulated and ensuring data integrity by relying on traditional database storage where records can be easily modified by administrators is a risky business.
- Legacy based mortgage home brewed applications are tightly integrated with different types of APIs and complexities, creating invisibility barrier in the eyes of data owners.
Solution is to use well geared, lubricated and oiled Alpha Technology approach for migrating your home brewed applications and mortgage loan processing platform from old tech stack to new stack, using quick win, without killing the patient. Here is how Alpha Technologies can help with your project.
- We can translate your traditional interfaces into event driven interfaces, helping you get away from JDBC non friendly API driven interactions.
- Additionally, we can help you convert homegrown banking apps or vendor apps into microservices cloud native driven apps.
- Our core expertise come from staffing for financial companies, we can rapidly find the off/on shore resources even for the legacy architectures, then either augment your existing staff or manage the transformation using phased transformation approach with quick win, style of milestones.
- In cases where it’s not possible to find the resource for legacy technology, we create the resources, by partnering up with colleges and universities to train them and rapidly infuse them into the mortgage loan processing project.
- Over the years we developed unique approach for deciphering the business logic for financial industry legacy architectures through the use of the customized monitoring tools. The very same tools that not only do we use, but we literally create.
- Visualizing the business logic prior to pulling the rug, is the key in ensuring that nothing is left behind.
- With Alpha’s unique approach for prior during and after transformation, mortgage companies can have a peace of mind, helping financial organizations bridge the world of today and yesterday.
- We can additionally construct service mesh networks and help your organization embrace Zero Trust Connectivity, and maximize your Tech Enablement productivity.
- Additionally Alpha specializes in AI/ML – NLP and Blockchain Innovative solutions, that can help mortgage companies, maximize data integrity, resiliency, decipher the business logic and build out brand new platform, helping you organization maximize business intelligence of your data.
Loan Processing Platform Migration
Imagine the world where data can be modified, and loan number changed from $100,000 to $10. Would that be bad for mortgage industry business? You bet it would be. So what can mortgage industry do? The answer is introduce Loan Processing Blockchain into their loan processing intake procedure. The problem with this approach is that it’s not exactly straight forward, and understanding where it fits in the overall existing loan processing platform is not exactly trivial either.
For the following Reasons:
- Data is scattered across monolithic processes.
- Multiple APIs tightly integrated with legacy code that is difficult to refactor.
- Databases that are holding the information are running on batch processing cycles.
- Business Logic is not exactly documented, but rather shared across different loan processor responsibilities.
- Storing data in CRUD style database takes place across multiple processes in different sequences, where any of the dependency processes can cause data not be stored.
So how do you move Loan Processing Platform to Blockchain?
Considerations Prior to Moving to Blockchain
- One thing is certain for sure, that somehow PII compliant data needs to be stored in a way that is immutable, and tracible, and hash able protecting personal information.
- The problem is data can be malformed or modified or not available for either of the reasons, ranging from, networking, security, or due to heavily legacy centralized traditional architecture.
- Blockchain is only one part of the puzzle that yes can most certainly make the loan processing business less risky from data modification perspective.
Steps To Migrate to Blockchain
- Continue relying on your existing legacy architecture, while in parallel introduce blockchain database storage techniques using smart contracts.
- Create Monitoring/Testing and advanced visualizations and quality assurance mechanisms to catch failures within the loan processing lifecycle.
- Apply AI/ML techniques to catch abnormal loan processing behavior.
- Create resilient multi parallel based modern data streaming and API friendly platform architecture, that allows data owners to integrate with data closer.
- Create CI/CD pipeline with agile strategy for updating any loan processing modifications.
- Push transactional data through the pipeline into Blockchain using Smart Contracts, and visualize it as it gets pushed through the pipeline for inconsistencies.
- Create REACT based front end interface to consume loan processing data from combination of both centralized and de-centralized architecture.
Note the are just few steps, that Alpha Technologies can help your mortgage company navigate through.
What happens if mortgage company doesn’t transform their legacy application into Blockchain, API friendly and secure architecture?
- If your mortgage company won’t, then another mortgage company will. Remember consumers want to know that when they take out a loan, that there is a guarantee that the loan number doesn’t just change randomly because of either some hack, or some disgruntle employee having access to legacy database to modify it.
- Besides, think of other disruptions, that are taking place in the industry. If the loan processing company doesn’t catch up with the other industries, it will bring less incentive for consumers to be taking out loans from your company…. naturally creating lower revenue for your company.
- Remember Blockchain is only small part of the puzzle, but there are literally already other industries loaning people money through digital currencies for a lot small percentage than what mortgage companies charge.
- Staying on top of your industry is the key to not be fallen behind.
Alpha Technologies can help you integrate your loan processing platform with blockchain and beyond.
How exactly can mortgage legacy application be migrated done with minimum disruption?
- The answer to this question is very complex and is highly dependent on your existing organization business technical structure. However, there are some innovative approaches that Alpha Technologies has invested in.
- Ranging from creation of our own tools, that visualize business dependencies in intuitive way, prior to migrating any type of applications. The tools that we use visualize every single application & infrastructure process in a single pane of glass, helping loan processors see the full picture of what’s happening with their loans.
- Through the use of containerized environments Alpha Technologies can transform your application into loosely coupled microservices, introduce in between proxy mechanisms to route data efficiently while still retaining the old legacy process in case of a fall back.
- Using combination of customized structured and unstructured data ingestion engines Alpha Technologies can help mortgage companies minimize ingestion costs, reuse existing tools that mortgage company may have already invested in and streamline batch job processes, while transforming legacy application into modern tech stack with minimum disruption.
Alpha Technologies can help your mortgage company minimize down time disruption during migration phase to the new platform.
What exactly can Alpha Technologies Help With?
- Phased based Approach
- Mapping out KPIs.
- Feeding Deals data for Primary and Secondary Loans.
- Supporting your existing legacy architecture first.
- Monitoring it, Testing it.
- Decoupling your architecture.
- Introducing parallel based centralized and decentralized architecture.
- Introducing different methods of centralized architecture using synchronous and asynchronous data processing.
- Constructing Pipeline.
- Pre-processing Data
- ETL Data
- Securing, hashing, storing sensitive data prior to ingestion.
- Creating single pane of glass visualizations.
- Re-creating & Re-factoring your existing application.
- Adding/Re-Creating Business Process Management system with step functions allowing maximum agility for the data owners.
- Integrating with Salesforce, CRM systems or any other existing business processes, or intake processing systems.
- Security APIs, Data Integrations, cloud to cloud, on premise to cloud.
- Migrating from on premise to cloud or from cloud to cloud.
- Integrating with LoanIQ, ClearPar and other types of systems.
Our Financial & Mortgage Indusry Technology Experience
Freedom Mortgage
Alpha Technologies helped Freedom Mortgage company augment their existing staff, assist with service desk duties, consulting with transformation to newer stack. API Integration, Implementation, as well as monitor entire loan processing intake process.
Next Steps
Top Reasons Why Mortgage companies Should not Wait with digital Transformation needs
Don’t get stuck behind the other competitors, maximize their data owners productivity by moving the data closer to the data owners.
Reach out to Alpha Technologies today to review your existing problem and come up with customized solution, using gradual quick win approach, helping you gain confidence in our innovative solutions and services prior to transforming anything big.
- Many organizations wait until the last moment.
- Remember Bringing Data Closer is the gateway to AI/ML and faster business processes.
- The path to business centric approach starts with transformation of your existing stack, layer by layer, tier by tier, UI by UI.
- Unleash Alpha Technologies expertise with multiple banks into your existing issue. Contact us today.