NelsonHall’s Mortgage and Loan (M&L) BPO Vendor Assessment for IGATE is a comprehensive assessment of IGATE’s M&L BPO offerings and capabilities, designed for:
Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for M&L BPO RFPs
Vendor marketing, sales and business managers looking to benchmark themselves against their peers
Financial analysts and investors specializing in the support services sector.
Key Findings & Highlights
This NelsonHall assessment analyzes IGATE’s offerings and capabilities in lending BPO. IGATE is one of a number of M&L BPO companies analyzed in NelsonHall’s comprehensive industry analysis programs.
IGATE started its M&L BPO business in 2004 with an engagement which it characterized at the time as KPO; it involved IGATE providing data validation for mortgage underwriting, and included all the underwriting work except for decision-making. By 2005, IGATE had expanded from pure people-based services for mortgage origination, incorporating technology services in support of origination (as part of its iTOPS approach).
By 2006, IGATE had expanded into loan administration BPO services with several private equity investors. By 2012, IGATE had 14 M&L BPO clients. However, as clients merged and brought processing in-house or closed their doors, the client base declined, though no clients left due to performance issues. Today IGATE has five M&L BPO clients.
M&L BPO is part of IGATE’s retail banking BPO line of business, which in turn is part of its banking business vertical.
IGATE M&L BPO delivers services from five delivery centers:
El Paso, TX
IGATE’s M&L BPO supports client operations in North American markets.
IGATE’s primary targets for M&L BPO are financial institutions headquartered in the U.S. and Canada. It is now also pursuing expansion into Continental Europe and the U.K.
Institution types which are being targeted by IGATE are:
Tier one banks
IGATE’s key differentiators in M&L BPO are:
A focus on platform modernization, which is increasingly important in M&L BPO
Onshore delivery capabilities: for processes which cannot be offshored or which clients do not want to offshore at this time
Consulting for loan audits and automated quality audit services: which are of increasing importance, both for compliance and portfolio acquisition due diligence.