Mortgage BPO stands out as one of the largest submarkets within banking BPO. As regulatory bodies continue to increase their oversight on mortgage activities of banks, the role played by BPO has been gaining greater significance in the mortgage landscape. This, coupled with newer entrants in the space, such as small-sized banks, is also causing a spike in the demand for mortgage BPO. Buyers are now looking to service providers to deliver more than just cost savings.
Risk and regulatory compliance solutions, to ensure compliance and prevent banks from faltering in the future, are increasingly gaining prominence. Service providers need to up their game to combat a host of challenges in the market. While the origination volumes have witnessed a decline, the cost of providing origination and servicing has been on the rise. Moreover, customers are increasingly demanding innovative technology solutions for their mortgage needs. With a progressively changing landscape, service providers will be required to make the right set of investments to stay competitive. At the same time, buyers need to identify the providers who clearly understand their unique business challenges and can help mitigate them.
The past year witnessed the focus of most service providers shifting from core capital markets offerings to Robotic Process Automation (RPA) and cognitive automation. While some of the leading providers tried to tap into the automation market by developing in-house automation capabilities and investing in the next-generation cognitive automation technology, others tried to make the most of the RPA opportunity by partnering/collaborating with RPA technology providers.
In this research, we analyze the global mortgage BPO service provider landscape. We focus on:
This report examines the global mortgage BPO market and its service provider landscape. It provides detailed analysis of the capabilities and market performance of service providers and their relative positioning on the Everest Group Services PEAK Matrix. It will assist key stakeholders (banks, lenders, service providers, and technology providers) understand the current state of the mortgage BPO service provider landscape.
Some of the findings in this report are:
Banking and Financial Services (BFS) - Business Process Outsourcing (BPO)