The benefit?  Mitigate risk.  Eliminate redundancy.  Enhance accuracy.  Keep everything in one centralized place.

In 2015, many servicers still relied on paper checklists and standalone spreadsheets to document field inspections, resulting in data‐entry errors and delayed reporting. That same year, ISGN’s LoanMomentum™ platform introduced electronic transmission of field transactions—photos, notes, and GPS coordinates—marking one of the first steps toward digitization of inspection workflows

By 2018, smartphone adoption among inspectors was nearly universal, and cloud-based platforms emerged to centralize inspection data. Mobile apps allowed on-site photo capture, automated form population, and instant submission to servicer portals.  Meanwhile, particularly with the onset of COVID, a glaring demand demonstrated potential for mixed-reality systems—wearable holographic headsets that overlay defect analytics during bridge and property assessments—aiming to further accelerate and enrich field inspections.

Between 2021 and 2023, per McKinsey & Company, PropTech vendors began integrating inspection modules directly into loan servicing platforms, unifying workflows from origination to default management. Artificial intelligence and machine learning models started auto-flagging anomalies—such as unrepaired property damage or nonstandard valuations—by analyzing thousands of historical inspection reports. A 2024 study on structured finance reviews found that multi-agent AI frameworks could automate verification of loan-to-value ratios and loan document consistency, reducing manual errors by over 30%

Emerging Technologies (2023–2025): IoT, Drones, and Digital Twins

Most recently, servicers have begun piloting Internet of Things (IoT) sensors embedded in loan-collateral assets—collecting continuous environmental data on occupancy, maintenance needs, or structural shifts. Drone-based inspections supplement human inspectors, delivering high-resolution imagery for large or hard-to-access properties within minutes rather than days. Meanwhile, digital twin models replicate properties in virtual environments, enabling remote walkthroughs and scenario testing (e.g., projecting the impact of deferred maintenance on asset value). These tools promise more proactive risk mitigation and regulatory compliance.

The last ten years have transformed loan inspection services from fragmented, manual workflows into interconnected, intelligent ecosystems. By embracing mobile platforms, cloud integration, AI automation, and emerging IoT and drone technologies, servicers can not only streamline operations but also gain predictive insights that strengthen risk management and borrower satisfaction. As these tools continue to converge, the future of loan servicing will be defined by its ability to anticipate issues before they arise—and to deliver real-time transparency at every step.

As businesses evaluate their options, many face a pivotal decision: should they buy an existing solution, or should they build one in-house?

Let’s break it down – here are some factors to consider:

The Time Factor:

In today’s rapidly evolving tech landscape, speed matters. Developing a fintech solution from scratch is a time-consuming process. Custom building requires extensive planning, resources, and development time—often stretching into months or even years. By the time a built-from-scratch system is ready to launch, the technology may already be outdated or eclipsed by market innovations.

Latest and Greatest:

On the other hand, when you purchase a best-in-class fintech solution, you’re buying into a platform that is continuously updated and optimized by a team of specialists who are dedicated to staying ahead of industry trends. These ongoing updates ensure that your technology remains modern, secure, and aligned with the evolving needs of the commercial real estate market.

When you opt for an existing platform, you're often not just purchasing software—you’re gaining access to an entire ecosystem of experts. The best fintech providers have teams of subject matter experts dedicated to product development, user experience, and market trends. These experts continuously refine the software to ensure it meets the unique needs of the commercial real estate industry.

The Final Verdict: Buy, Don’t Build

When it comes to supporting your commercial real estate portfolio with fintech, buying a best-in-class solution is often the smartest and most efficient choice. It saves time, provides access to continuous updates, offers expert support, and delivers faster ROI. The commercial real estate market is too competitive and fast-moving to risk being left behind with outdated or incomplete technology.

Start with a Strategic Plan:

Invest in Security:

Train and Empower Your Workforce:

Leverage Partnerships for Seamless Integration:

Test, Adapt, and Scale:

Before full-scale implementation, financial institutions should test new technologies in controlled environments. This allows for identifying potential issues, making necessary adjustments, and ensuring that the technology functions as expected. After successful trials, users can scale the technology to meet broader organizational needs with confidence.

Adopting new technology is no longer a question of if but when for those is the commercial finance world. While the process may seem daunting, taking a strategic, security-focused, and customer-centric approach can ease the transition.

Varro's suite of products and services provides automated and transparent management around the inspection process of your commercial assets.  Products are designed to mitigate risk and enhance operational efficiency. Varro utilizes the most powerful artificial intelligence and machine learning systems available to allow clients to automate the routine, and humanize the exception.