The FINANCIAL — Accenture has been named a Leader in Business Process Outsourcing (BPO) for the mortgage industry in Everest Group’s recent report: Mortgage BPO – Service Provider Landscape with PEAK Matrix Assessment 2015.
Accenture is ranked the overall leader in the report, which assessed 14 mortgage BPO service providers based on two key dimensions: market success and delivery capability (scale, scope, technology solutions and innovation, and delivery footprint). Accenture received the highest overall positioning in both dimensions.
The report emphasized the increasing importance of BPO in helping lenders achieve success in the mortgage marketplace as loan-origination costs continue to rise, customer satisfaction continues to fall and competition intensifies, with newer participants entering the space. At the same time, there is growing demand for service providers to deliver technologies, including digital and mobility solutions, designed to bring innovation to sales and operations, according to Accenture.
“In addition to providing traditional BPO services at the top of the leader board, Accenture also delivers end-to-end utility-based offerings to a number of lenders,” said Rajesh Ranjan, Partner and Head, Business Process Services, at Everest Group. “Coupled with robust technology offerings and a holistic suite of services, they are well-positioned to service the newer market demands.”
Accenture was positioned as the overall Leader in the report because of its growth in operations scale, execution capabilities and robust technology offerings, all of which position the company to meet the growing demands of banks and other mortgage providers. The report cites Accenture’s acquisitions of Zenta and Mortgage Cadence as extending its product offerings, enabling Accenture to deliver an end-to-end utility-based offering across all sectors of the market, including home equity where it recently acquired a portion of a US lender’s operations.
“We are pleased to be recognized as a Leader in the mortgage BPO industry, which stands out as the largest submarket within the banking BPO space,” said Terry Moore, global senior managing director of Accenture Credit Services. “Our best-in-class automation, digital and analytics capabilities, effective compliance, experienced personnel and rigorous quality control help lenders deliver differentiated borrower experience, shorter time-to-close and reduced cost-per-loan. These are all key elements to effectively competing in today’s and tomorrow’s dynamic mortgage market environment.”