CIOReview | | 19 DECEMBER 2022CXO INSIGHTSFANNIE MAE'S PLAYBOOK FOR TECHNOLOGY VELOCITY: OUR INITIAL STEP TO INCREASE VELOCITY THROUGH DIGITAL GOVERNANCEBy Linda Tai, Chief Technology Officer, Fannie MaeLinda TaiFannie Mae's mission is to advance equitable and sustainable access to homeownership and quality, affordable rental housing across America. Our digital and technology teams are front and center in the execution of this mission, as we work to modernize and innovate our mortgage solutions to help our partners serve homeowners and renters. Over the past few years, Fannie Mae has initiated a company-wide digital transformation with the aim to deliver smart, innovative solutions to make mortgage lending faster, better, cheaper, and safer through systems that help provide security, resiliency, and flexibility. This drive to increase technology velocity must be balanced with our relentless focus on managing risks to help ensure a safe and sound housing technology ecosystem. In this article, we'll dive into a couple examples where we've streamlined our governance processes to enable technology velocity while working to remain safe and sound.Accelerating Decision MakingWe initiated our journey with our architecture governance team, where the most critical decisions are made. Many viewed this function as a bureaucratic body that slowed down work. So, we re-evaluated our processes to identify opportunities to reduce this friction and transform governance to bean innovation enabler.How did we do this?Our first opportunity was with our patterns and exceptions. We streamlined the process by:· Empowering technology teams to re-use patterns without asking for permission.
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