Accenture entered into an agreement to acquire about 80% employees of Bank of America’s Rancho Cordova loan center. Bank of America is shutting down this center which employs about 800 people and processes home equity loans and has contracted out these services to Accenture.
This acquisition would translate into a significant addition to Accenture Credit Services’ existing headcount. Accenture, today a giant in its own right in the mortgage BPO world has taken inorganic growth route in this market segment. It began in 2011 with the acquisition of Zenta followed by its acquisition of Mortgage Cadence in 2013 and now the acquisition of home equity loan processing capabilities. It is a move that has raised curiosity levels and the question often heard is “What new is Accenture going to gain?” This viewpoint explores the rationale behind this deal and presents a broader picture of the mortgage BPO market. The document also explores the possibility of mortgage BPO expanding from “origination” and “servicing” support to including “home equity lending” support as well.
Note: this report is from 2012. See our most recent R2R research report.
The Finance & Accounting (F&A) function comprises three end-to-end processes – Procure-to-Pay (P2P), Order-to-Cash (O2C), and Record-to-Report (R2R). This report focuses on…
