Accenture (NYSE: ACN), agreed to acquire Zenta, a leading provider of residential and commercial mortgage processing services. The purchase will significantly expand Accenture’s credit offerings and further expand its BPO offerings.
Accenture also announced the launch of Accenture Credit Services, a full-service consulting, technology and BPO capability that will expand its support for institutions in the residential mortgage, commercial real estate, leasing and automotive finance industries. Zenta’s mortgage processing capabilities will be a key component of the service.
Terry Moore, global managing director of Accenture Credit Services, said,
The wave of regulations and a changing credit environment are redefining the competitive landscape of the mortgage industry. In the residential mortgage business, low customer satisfaction, rising fulfillment costs, and falling pull-through rates — coupled with slower refinancing and purchase activity — are undercutting profitability. On the servicing side, regulatory changes are forcing operational transformation. This acquisition will help our clients address these challenges by combining Zenta’s resources and expertise in mortgage processing with Accenture’s long track record helping financial institutions design and execute complex, large-scale business transformations. Zenta’s white-glove approach to mortgage processing will serve our clients well.
Zenta is a large employer, with more than 3700 employees in a variety of functions including residential and commercial mortgage origination and servicing, default management, real estate portfolio management, and accounts receivable management. All of the employees are expected to join Accenture. Zenta has large call center operations as part of its services.
Accenture is a global management consulting, technology services and outsourcing company, with more than 223,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$21.6 billion for the fiscal year ended Aug. 31, 2010. For more information, visit www.accenture.com.
Founded in 2000, Zenta is a world-class knowledge process outsourcing (KPO) and business process outsourcing (BPO) company, offering a full range of residential mortgage fulfillment and loan servicing support, commercial real estate, capital market analytics, commercial loan underwriting and servicing support, finance and accounting, asset management, collections and contact center services. Through deep domain expertise and a focus on process management, Zenta provides clients with increased speed in execution of core business processes, flexible scale, and cost savings associated with superior efficiency and quality. The company currently employs more than 3,700 resources in the U.S., India and the Philippines. For more information, visit www.zenta.com.