In this session, hear about how Accenture is utilizing Blockchain in groundbreaking projects, and learn where we, as an industry, go from here.
NEW YORK; Jan. 12, 2017 – A new report ranks Accenture (NYSE: ACN) among the world’s leading providers of product engineering services based on its knowledge in product management and strategy, software and platforms, and end-to-end delivery capabilities.
The 2016 Zinnov Zones Product Engineering Services report based this ranking on analysis of capabilities in the enterprise software market, and included an in-depth review of factors such as talent, business models, non-linear strategy, innovation, infrastructure, ecosystem connections, client relationships and product development expertise.
Accenture (NYSE: ACN) has agreed to acquire Mortgage Cadence, a provider of loan origination software and electronic document management services in the United States. The acquisition will add an advanced technology platform to strengthen Accenture’s mortgage business process outsourcing (BPO) services and enable the company to provide software to mortgage lenders looking to increase efficiencies and reduce costs. Terms of the transaction were not disclosed.
Under the agreement, which is subject to customary closing requirements, Mortgage Cadence will become part of Accenture and its software will be incorporated into Accenture Credit Services, a business service within Accenture’s financial services operating group that provides consulting, technology and outsourcing services to financial institutions. Accenture Credit Services will use Mortgage Cadence technology as a core loan-origination platform to process mortgages on behalf of its outsourcing clients. Accenture also will provide the software to lenders on a standalone basis through Accenture Software as part of its banking-software portfolio.
“The U.S. mortgage industry is entering an era in which efficiency, speed and the customer experience will be more crucial than ever in determining winners and losers,” said Terry Moore, global managing director of Accenture Credit Services. “By adding this key mortgage processing asset, we will enhance our end-to-end credit services capabilities and bring a new generation of mortgage processing services to the industry. This offers lenders improved speed-to-market, cycle-time, costs, and productivity.”
“Traditional loan origination technologies have become too complex and cumbersome to meet today's market demands,” said Michael Detwiler, CEO of Mortgage Cadence. “Because our software is rules-based and highly configurable, it can help lenders accelerate new product introductions, more easily adapt to changing regulatory requirements, and reduce overall cost structures. By combining our technology with Accenture's mortgage processing and software development capabilities, we can deliver more holistic and advanced solutions that will help lenders compete. We look forward to joining the Accenture team. In addition, I would like to thank our principal investor, Monitor Clipper Partners, for supporting Mortgage Cadence for the last three years with its strategic support and operational expertise, which have proven instrumental to our success.”
Headquartered in Denver, Colorado, Mortgage Cadence is a privately held company that provides loan origination software solutions for large and mid-sized residential mortgage lenders in the United States. Its portfolio of software supports mortgage origination, processing, underwriting, closing and post-closing with on-premise, software-as-a-service (SaaS) and cloud-based solutions. Mortgage Cadence also offers electronic mortgage document management systems and imaging solutions. The company’s approximately 190 employees in the United States will join Accenture Software under the agreement.
"As the US mortgage industry evolves, leading-edge technology applications for processing loans have taken on tremendous importance in terms of competitive advantage, growth and profitability," said Jim Astorian, managing director, Accenture Software. "This acquisition reflects our continued focus on investing in and developing core software technologies that will help our financial services industry clients succeed in an evolving marketplace."
Welcome to mortgagecadence.com! In order to provide a more relevant experience for you, we use cookies to enable some website functionality. Cookies help us see which articles most interest you; allow you to easily share articles on social media; permit us to deliver content, jobs and ads tailored to your interests and locations; and provide many other site benefits. For more information, please review our Privacy Statement.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.