AmeriSave tech exec doubles down on innovation in a downturn

Sarma did not discuss job cuts but commented briefly on the strategy change. AmeriSave decided to exit wholesale lending to focus its resources on the core business of consumer direct and retail lending, he said. That shift, he added, allows him to continue work modernizing the core business.

“We are now able to focus the resources we have and what we are looking at as our main focus areas in this market,” Sarma said.

The cutbacks should have little effect on technology innovation and further development, he said. AmeriSave employed nearly 2,600 people as of April. Now, the number is just over 2,000 employees, the company disclosed.

“The mandate is still to continue to innovate toward the company’s mission of making homeownership affordable to our customers,” Sarma said. “As we focus on more critical efforts, some of the ones that are going to take a few months to get out the door may or may not be stretched a little longer.”

Downturn tech investments

Sarma believes that technology investment is even more important during a downturn than when demand is soaring.