TCS Positioned as a Leader in Mortgage Operations by Everest Group
Tata Consultancy Services’ Full Spectrum of Services in Mortgage Operations, Strong Domain Expertise, Digital Offerings, and Advisory Capabilities, Cited as Key Strengths
NEW YORK | MUMBAI, December 8, 2020: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been named a Leader in the Everest Group PEAK Matrix® for Mortgage Operations1.
In an assessment of 19 mortgage operations service providers, TCS was placed highest for its vision and capability as well as market impact. The report says that TCS provides a full spectrum of services in mortgage operations with wide presence in almost all major processes and functions across front, mid- and back office. It goes on to highlight TCS’ strong domain expertise, digital offerings, and advisory capabilities, which help it serve small and mid-sized clients, along with catering to the needs of some of the biggest banks and FinTechs.
According to the report, TCS is one of the few service providers who has a good presence in established economies such as North America and UK, as well as emerging ones such as Asia Pacific and Middle East. Other strengths highlighted were TCS’ continual heavy investments in digital and technology and its Digital Mortgage Advisor solution that helps clients manage their mortgage leads and loans more efficiently
“The mortgage industry is ripe for disruptive innovation leveraging agile methodologies and digital technologies. In many regions, lenders are embracing high levels of innovation in the wake of the current crisis. By adopting our digital solutions for mortgage processing, our customers are enhancing the borrower experience, simplifying processes across the business value chain and improving their operational resilience,” said K Krithivasan, Business Group Head, Banking, Financial Services and Insurance, TCS. “This market leadership position from an independent research firm is a recognition of our differentiated capabilities and offerings that help both traditional lenders as well as upstarts to gain a competitive advantage and stay ahead of the curve.”
TCS has nearly two decades of experience in managing end-to-end mortgage business operations. It serves more than 40 clients, including top global banks and lenders, leading mortgage non-bank lenders, mortgage servicers, correspondent lenders, allied service providers such as mortgage insurance companies, title service providers and information service providers. TCS supports over 280 lending processes across the loan lifecycle, including origination, active servicing and default servicing, and manages the entire value chain of operations for residential mortgage and loan operations across North America, LATAM, Europe, the MEA and APAC region.
Over the years, TCS has witnessed varied business cycles and partnered with its clients to address their operational and scalability requirements. Given its expertise in the area of mortgages, TCS has played an instrumental role in bringing about a marked change in the way mortgage processes are managed and has institutionalized some of the best practices in this space. Its strong experience in business operations has placed it in a strong foothold to establish an end to end suite of digital mortgage solutions ranging from digital originations, digital mortgage advisor, digital underwriting, automated document classification and extraction, digital quality control, digital servicing and an AI based chat bot. TCS continues to invest in new and emerging technologies such as blockchain and artificial intelligence to develop innovative solutions. Its strong capability and experience make it a preferred partner in its customers’ transformation journeys.
“Mortgage operations have experienced increasing adoption of digital and technology solutions driven by evolving consumer preferences, increasing competition from non-traditional lenders, and the COVID-19 pandemic,” said Robin Jain, Practice Director, Everest Group. “With its strong domain expertise, technology-aided delivery capabilities, and continued investments in digital assets, TCS is well positioned to cater to the needs of buyers across all major areas of mortgage operations.”
“With our deep understanding of the mortgage domain, dedicated innovation and technology COEs, Co-Innovation Network and industry partnerships, TCS is well placed to drive superior business outcomes, unlock exponential value and address the needs of the new-age lending ecosystem,” added Krithivasan.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent AgileTM delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 453,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22 billion in the fiscal year ended March 31, 2020, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
For TCS global news, follow @TCS_News.
1 Mortgage Operations PEAK Matrix® Assessment 2020, Manu Aggarwal, Robin Jain, Nikita Agarwal, Akanksha Pathak Everest Group, September 30, 2020
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