March 29, 2018
TCS recognised as a 'Leader' and 'Star Performer' in mortgage BPO services by Everest Group
Report cites Tata Consultancy Services’ diversified scope, integrated IT-BPS solutions, and investments in high growth areas including analytics, risk and compliance, and intelligent automation as key attributes
NEW YORK | MUMBAI: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organisation, has been recognised as a ‘Leader’ in the Mortgage BPO Services for the second time in succession and emerged as a ‘Star Performer’ in Everest Group’s Mortgage BPO - Service Provider Landscape with PEAK Matrix™ Assessment 20171.
K Krithivasan, president and global head, banking and financial services, TCS, said, “The mortgage lending business is embracing digital and cognitive technologies to redefine their business models to positively impact customer experience, lender’s market share and the bottom line. This recognition is a testament to our deep expertise in the mortgage domain and our differentiated offerings that leverage the power of digital technologies to transform operations.”
As a leader in the Banking and Financial Services vertical, TCS works with leading mortgage lenders across the world, helping them digitally transform their businesses to cope with the increased regulatory compliance burden and rising competition from non-banking lenders. TCS has invested in creating multiple digital solutions, powered by the TCS Mortgage platform, in areas such as digital originations, digital underwriting, digital servicing, and digital quality control to address the needs of the new age lending ecosystem.
TCS is also expanding its portfolio of digital offerings incorporating advanced analytics and machine learning to deliver better lead conversions, superior customer insights and predictive default management. Digital solutions using blockchain technology help lenders in the quicker transfer of mortgage service rights, and artificial intelligence to provide robo-advisory services to borrowers by analysing all their needs algorithmically, with minimal or no human intervention.
Manu Aggarwal, practice director, Everest Group, said, “The demand and adoption of digital technologies, such as automation and Artificial Intelligence, in the mortgage industry has fuelled the growth of P2P lenders and FinTechs. In response, banks and lenders are shifting their focus to deliver a superior customer experience rather than fixating on cost savings alone. This has led service providers to follow suit. TCS is one of the leading players in the market – it has augmented its rich domain expertise with investments in digital technologies, in-turn helping clients compete in the era of changing market demand and intensifying competition.”
Mr Krithivasan added, “Our rich domain experience, end to end transformation approach, innovative delivery models, and strong transformation levers grounded in analytics, business process management and cognitive automation,result in superior business outcomes, making us the preferred transformational partner for mortgage lenders looking to succeed in a Business 4.0 world.”
1 Mortgage BPO – Service Provider Landscape with Services PEAK Matrix™ Assessment 2017, Banking and Financial Services (BFS) – Business Process Outsourcing (BPO) Market Report – December 2017.