Mphasis (BSE: 526299; NSE: MPHASIS), an information technology (IT) solutions provider specializing in cloud and cognitive services, today announced that it has been recognized as a Major Contender in the Everest Group PEAK Matrix® for Mortgage Operations Service Providers for 2022.
As per the report, Mphasis-Digital Risk showcased considerable growth in its vision and capability to deliver services successfully to the lenders. The Everest Group analyzed the capabilities of 23 banking operations service providers on the Everest Group PEAK Matrix®. The assessment adopted an objective approach, leveraging technology vendor RFIs and a vast proprietary database that contains detailed information on service providers’ deals and operational capabilities.
“As the mortgage operations market continues to be a very competitive space, we at Mphasis have been able to consistently deliver efficient solutions to our lenders. We are grateful that Everest Group continues to recognize our efforts towards delivering impactful solutions in this sector,” said Ravi Vasantraj, Global Delivery Head, Mphasis. “This recognition further validates the progress we have made towards ensuring that our customers in both North America and India, are provided with the best mortgage operation solutions”.
The report highlights Mphasis-Digital Risk’s strengths as:
- Mphasis-Digital Risk’s offerings span mortgage processing, underwriting, closing, and securitization. It experience a sharp growth in its mortgage revenue with the addition of new client logos.
- Starting with a focus on GRC-led offerings, it has now successfully diversified its services across the various processes in origination, securitization as well as servicing with targeted investments in both talent and technology.
- To support the volume fluctuations its clients experienced, Mphasis-Digital Risk has scaled its delivery capability across the US and Indian delivery centers.
- Its technology and digital capabilities include LoanFx, and a cognitive intelligence platform named DeepInsights that incorporates ML and NLP. It also offers a proprietary document identification and data extraction solutions called Luminate and Qcynergy to perform due diligence, quality control, and TRID reviews.
“With the mortgage operations industry striving towards being digital-centric, the lenders are now increasing their focus on delivering good user-experience to its tech-savvy borrowers,” said Robin Jain, Practice Director, Everest Group. “By being one of the early enablers of this change, Mphasis has been able to meet the evolving needs of the market. This recognition reflects the company’s well-rounded capabilities of handling this dynamic landscape”.