January 16, 2019
TCS named a leader in next-generation mortgage and loan BPS for third consecutive year by NelsonHall
Tata Consultancy Services’ experience in re-engineering, implementing and running M&L operations, with a focus on digital technology-enabled operations, cited as key strengths
London | Mumbai: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organisation, has been named a leader for the third consecutive time in the NelsonHall NEAT for Mortgage and Loan (M&L) BPS Services.1
The report cites TCS’s robust capabilities in implementing and running large-scale M&L operations with a focus on delivering digital technology-enabled operations. NelsonHall highlights the company’s long-term engagements as well as its onshore and nearshore delivery presence across the US and Latin America.
“The mortgage industry is witnessing digital-led shifts, increasing loan costs and stringent regulations. A strategic partner with the right mix of operational and technological capabilities can drive profitable, efficient operations, and boost the speed to market. M&L services help enterprises to enhance the borrower experience and simplify processes across the business value chain,” said K Krithivasan, president, banking, financial services, and insurance, TCS. “Our recognition as a market leader is a testament to our vision and innovation, differentiated capabilities and offerings, and the resultant market success.
TCS partners with leading lenders to help them build lean, highly scalable, and customer-centric operations. The company works with over 40 global banks, mortgage providers, and financial institutions to deliver services out of 14 global delivery centres.
In M&L operations, TCS offers end-to-end services that include sales, processing, underwriting, closing, research, pre-foreclosure and foreclosure, loss mitigation, bankruptcy, loan modification, data management and risk management. Customer experience management services include on-boarding, collections, customer service and analytics.
Leveraging technology expertise in tandem with the domain knowledge gained over the years, TCS has developed a suite of digital mortgage services, which include:
Digital origination: Enables lenders to better cater to potential customers by digitising and simplifying the loan process.
Digital underwriting: Facilitates rapid decision making through a rule-based solution complemented by data digitisation.
Digital quality control: Reduces the cost of quality control and accelerates cycle time, while improving compliance and operational efficiency through a checklist-driven quality platform.
Digital servicing: Reduces the cost of servicing while improving service productivity and customer experience through a self-service capability.
“TCS has a strong background in M&L BPS engagements and a large customer base. It delivers digital-enabled M&L operations and doesn’t just focus on pure BPS services,” said Andy Efstathiou, director, banking operations and transformation programme, NelsonHall. “TCS’s Business 4.0™ framework, Machine-First Delivery Model, digital-led solutions that cover the entire M&L value chain and global delivery presence make it a leader in this space.”
“With our deep understanding of the mortgage domain, full services portfolio, continuous evolution of market-relevant offerings and investments in platforms and intellectual property, TCS is well placed to address the needs of the new age lending ecosystem,” added K Krithivasan.
1 Next Generation Mortgage and Loan (M&L) BPS 2018, NEAT analysis, NelsonHall, October 2018