Experience.com, the leader in mortgage reviews and reputation management, is excited to announce our new industry benchmark, the MOXI (Mortgage Origination Experience Index).
The MOXI will compare customer experiences offered by different mortgage lenders or brokers to determine which ones are performing the best, and where there might be opportunities for improvement. We use a variety of metrics to index customer experiences from application to close.
With millions of reviews and hundreds of lenders already in the Experience Management Platform (XMP), this was an easy decision. The XMP is an advanced platform for companies to manage their customer and employee feedback. It integrates with nearly any data source, reviews platform, listings platform, social platform, business intelligence tool, and even offers open APIs to connect to any other platforms, sites, or databases.
1. By Lender, For Lender – The benchmark was built as a collaboration between some of America’s top lenders. As lenders join, they have the option of becoming a part of the Benchmark Partner Advisory Board. While Experience.com has invested in experts and developers to power the analytics, this benchmark is developed, maintained and evolved for lenders by participating lenders.
2. Real Time Results – This is a big difference across the mortgage benchmarking landscape. The Experience Management Platform (XMP) by Experience.com is the most advanced anywhere. Companies build complex workflows in minutes. This gives Experience.com customers a serious advantage when building customer surveys and workflows. It also means that companies don’t have to wait to get the results. They can log in yesterday’s responses as a part of the real time results. If a lender identifies a gap in a particular process, platform, or team, and they make a change, they don’t want to have to wait 6 months for the next benchmark report to see how their change impacted the results. With the MOXI, lenders can log in, sort by date range, and track their progress in real time.
3. Segmentation – Real time results mean even more when you can sort and search by segmenting the data. Lenders gain deep insights about their performances by sorting the results by purpose, product, milestone, date range, and even gender or ethnicity. Additionally, data can be viewed by geographic location.
4. Integration – Experience.com is already the most connected platform in the Mortgage Industry, with over 100 relevant integrations, API connections, and partner workflows. The MOXI expands this, so lenders can map experience data back to their Tableau, PowerBI, Domo, Google Data, or other internal business intelligence tools.
5. Constantly Evolving – Experience.com has made a significant investment to develop advanced Tableau dashboards natively into the platform. We have hired a Tableau team and launched a Partner Advisory Group to continually evolve the offering. This is a true partnership with the Mortgage Industry and will evolve based on the needs of participating customers.
6. First Party Data Dashboards – Another big part of the program is the analytics of the first party data. Processing workflows connect to processors, underwriting workflows connect to underwriters. The mortgage loan is complex and takes a lot of people, process, and tools to complete. Our team has developed tools separate from the benchmark to analyze the data at each milestone and to engage each team member. Improving mortgage experiences is a team sport. The XMP engages each team and shares relevant results so everyone can be a part of the solution.
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