Wipro - Mortgage and Loan BPO
Who Is This Vendor Assessment For?
NelsonHall’s Mortgage and Loan (M&L) BPO Vendor Assessment for Wipro is a comprehensive assessment of Wipro’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 Wipro’s offerings and capabilities in retail banking BPO. Wipro is one of a number of mortgage and loan BPO companies analyzed in NelsonHall’s comprehensive industry analysis programs.
Wipro’s retail banking BPO services were started in 2002 with the acquisition of Spectramind, which was delivering call center services to two global card issuing clients. In 2003/2004, Wipro started in mortgage processing BPO services, by providing data entry services for loan onboarding for a mortgage originator. From 2004 to 2007, these services expanded to include multi-channel data acquisition and entry for mortgages. In 2008, Wipro acquired Gallagher Systems, a software and services vendor for mortgage processing; this acquisition established Wipro as a full service mortgage and loan BPO and software vendor.
Wipro BPO delivers service from ten delivery centers below:
Ft. Lauderdale, FL
Wipro’s primary targets for M&L BPO are:
Independent mortgage companies
Top ten banks
Wipro targets U.S. headquartered mortgage lenders for M&L BPO services. In future, it will continue to primarily target U.S. institutions, but is likely to add the U.K. in the next year. The focus in M&L is on origination, but does include some loan administration processing.
Wipro is looking to grow its M&L BPO business by:
Scaling support for existing clients with greater onshore U.S. delivery. New centers are likely to be located in the Western U.S. (TX and CA). New employees will primarily have industry certifications
Expanding compliance offerings for M&L
Cross-selling into lending clients which currently buy IT services and the Gallagher platform.
The primary focus in the next 12 months will be:
Expanding onshore U.S. delivery capabilities to expand existing client engagements. The U.S. will remain the primary focus for Wipro’s M&L efforts for the foreseeable future
Pursuing origination BPO opportunities, with BPO services delivered using its proprietary LOS platform
Pursuing prospects looking to acquire portfolios in the secondary market
Pursuing large scale M&L BPO opportunities in the U.K.
All of the new engagements are expected to involve IT consulting and services support, as lead-ins to the M&L BPO relationship.