Accenture Launches New Solution for Mortgage Lenders that Transforms Delivery of Business Process Outsourcing
October 13 2016 - 7:57AM
Business Wire
Mortgage & Compliance as-a-Service provides
end-to-end loan fulfillment capability including a regulatory
compliance warranty
Accenture (NYSE:ACN) has introduced a revolutionary solution,
Mortgage & Compliance as-a-Service (MCaaS), designed to help
simplify the outsourcing model for lenders by providing a
prescribed, end-to-end, product-rich mortgage manufacturing
solution, coupled with the U.S. mortgage industry’s only warranty
for compliance and investor risk. MCaaS loans will be processed on
the Accenture Credit Services proprietary lending technology
platform, LoanSequence.
The new solution is designed to help mortgage and home equity
lenders reduce overall cycle times, scale volume on demand, improve
regulatory compliance and reduce the potential for repurchase risk,
at a predictable outcome-based cost. It will also help reduce the
need for lenders to continually upgrade their legacy mortgage
technology and processes to be compliant with the latest investor
and regulatory requirements.
“With lenders facing a perfect storm of outdated technology
platforms, constantly changing regulatory requirements, rising
costs, fast-moving, non-traditional players and digitally
sophisticated customers, innovation with vision beyond low-cost
locations and lower labor costs is critical,” said Mike Detwiler,
senior managing director of Accenture Credit Services. “Through
this offering, Accenture is expanding well beyond the traditional
business process outsourcing model that it has provided to the
mortgage industry for many years. By making compliance and back-end
operations more effective and efficient, our clients will be free
to focus on customer retention and acquisition, which is key to
success in today’s competitive environment.”
The MCaaS solution aligns to lenders’ existing compliance
infrastructure and provides a robust warranty framework for
regulatory compliance, vendor and investor guidelines management,
as well as data integrity. With this warranty framework in place,
MCaaS loans will be processed and underwritten in compliance with
applicable laws and regulations. MCaaS loans will also meet
lenders’ standards and specific investor guidelines, be transacted
by world-class services providers and delivered on Accenture’s
delivery platform providing leading data integrity and
security.
LoanSequence, a technical suite of Accenture’s internal
technologies, is an end-to-end loan origination platform tightly
integrated with workflow and advanced automation tools to help
deliver efficiency, productivity and process automation. The
platform manages all third-party integrations and delivery and
includes integrated dynamic documents with eDelivery and eSign,
rules-based workflow, just-in-time workload allocation, real-time
data analytics, and Business Intelligence dashboarding and
reporting.
HfS Research recently named Accenture as “the overall leader” in
innovation and execution in its Mortgage As-a-Service Blueprint
Report, saying that the company is a “Mortgage As-a-Service
visionary driving operationally excellent engagements by leveraging
leading industry assets.”
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services and solutions in strategy,
consulting, digital, technology and operations. Combining unmatched
experience and specialized skills across more than 40 industries
and all business functions – underpinned by the world’s largest
delivery network – Accenture works at the intersection of business
and technology to help clients improve their performance and create
sustainable value for their stakeholders. With approximately
384,000 people serving clients in more than 120 countries,
Accenture drives innovation to improve the way the world works and
lives. Visit us at www.accenture.com.
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AccentureMelissa Volin, + 1
267-216-1815melissa.volin@accenture.com
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