NEW YORK and MUMBAI, India, March 29, 2018 /PRNewswire/ -- Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Mortgage BPO Services for the second time in succession and emerged as a Star Performer in Everest Group's Mortgage BPO - Service Provider Landscape with PEAK Matrix™ Assessment 20171.
"The mortgage lending business is embracing digital and cognitive technologies to redefine their business models to positively impact customer experience, lender's market share and the bottom line," said K Krithivasan, President and Global Head, Banking and Financial Services, TCS. "This recognition is a testament to our deep expertise in the mortgage domain and our differentiated offerings that leverage the power of digital technologies to transform operations."
As a leader in the Banking and Financial Services vertical, TCS works with leading mortgage lenders across the world, helping them digitally transform their businesses to cope with the increased regulatory compliance burden and rising competition from non-banking lenders. TCS has invested in creating multiple digital solutions, powered by the TCS Mortgage platform, in areas such as digital originations, digital underwriting, digital servicing, and digital quality control to address the needs of the new age lending ecosystem.
TCS is also expanding its portfolio of digital offerings incorporating advanced analytics and machine learning to deliver better lead conversions, superior customer insights and predictive default management. Digital solutions using blockchain technology help lenders in the quicker transfer of mortgage service rights, and artificial intelligence to provide robo-advisory services to borrowers by analyzing all their needs algorithmically, with minimal or no human intervention.
"The demand and adoption of digital technologies, such as automation and Artificial Intelligence, in the mortgage industry has fueled the growth of P2P lenders and FinTechs. In response, banks and lenders are shifting their focus to deliver a superior customer experience rather than fixating on cost savings alone. This has led service providers to follow suit," stated Manu Aggarwal, Practice Director, Everest Group. "TCS is one of the leading players in the market – it has augmented its rich domain expertise with investments in digital technologies, in turn helping clients compete in the era of changing market demand and intensifying competition."
"Our rich domain experience, end to end transformation approach, innovative delivery models, and strong transformation levers grounded in analytics, business process management and cognitive automation, result in superior business outcomes, making us the preferred transformational partner for mortgage lenders looking to succeed in a Business 4.0 world," Krithivasan added.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions provider that has been partnering with the world's largest businesses in their transformation journeys for the last fifty 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 agile delivery model, a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 390,000 of the world's best-trained consultants in 46 countries. The company generated consolidated revenues of US $17.6 billion for the year ended March 31, 2017 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.
1 Mortgage BPO – Service Provider Landscape with Services PEAK Matrix™ Assessment 2017, Banking and Financial Services (BFS) – Business Process Outsourcing (BPO) Market Report – December 2017.
SOURCE Tata Consultancy Services