But there is still an opportunity for investors to help make getting mortgages easier, faster, and cheaper, with increased digitization and automation, and through offerings from nonbank lenders, next-generation subservicers, nonqualified mortgage lenders, and companies bundling home-buying services. The mortgage industry has been gradually adopting technology to streamline processes. On the McKinsey on Government podcast, McKinsey senior partner Kirk Rieckhoff discusses why change is so hard for systems and organizations, how to put teams together that can embrace a transformation, and the steps that lead to success.
This boost is leading organizations to aspire to an average of 20 percent savings through optimizing real-estate portfolios.īefore we go any deeper into the topic of change, let’s admit that it’s not easy. More than half of respondents (compared with just over a quarter last year) said remote working has increased productivity compared with pre-COVID-19 levels. Of the executives surveyed, 91 percent are planning to maintain or increase investment in digital technology in the coming years. McKinsey talked to more than 350 senior executives about their plans for transforming sales, general, and administrative activities. This year’s survey provides insights to move organizations up the learning curve faster. That’s because business leaders expect half of their companies’ revenues five years from now to come from products, services, or businesses that do not yet exist, according to the latest McKinsey Global Survey on new-business building. Please email us at: building is one of the top strategic priorities for organizations-double the share of recent years.
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