Infosys to help US-based Frost Bank to launch new mortgage loan product
Infosys has been selected by Frost Bank, a Texas-based chartered bank, for providing strategic business consulting and digital capabilities to enable the latter to offer mortgage loans and other consumer loan products.
The Indian IT services company said that it will help design the mortgage loan process landscape of the bank from origination to servicing. It will also design the end-customer experience and deploy the most effective technology platform to run and manage operations while driving growth for the mortgage solutions over the coming five years.
Phil Green — Chairman and CEO of Frost Bank said: “Offering mortgage loans along with our other consumer loan products is integral to meeting our customers’ evolving needs and bringing the Frost experience to more Texans.
“Working with a world-class company like Infosys will allow us to be involved in the entire process from start to finish and bring our industry-leading customer service experience to mortgages.”
Infosys and Frost Bank will jointly create a human-centric, digital-first approach to customer mortgage loans for providing superior borrower experience and achieving cutting-edge efficiency of operations.
The Indian IT firm said that the implementation strategy will focus on expediting launch of the new product. Besides, the parties will work on streamlining the mortgage value chain for the chartered bank by leveraging Infosys’ access to global best practices as well as innovations.
Mohit Joshi — President of Infosys said: “At Infosys, we have built strong capabilities in transforming mortgage businesses by providing our clients with unique solutions that meet their customers’ expectations of speed, transparency, convenience, and personalization.
“Our collaboration with Frost Bank sets the stage for a new era of mortgage services, and we are excited to bring to this engagement, our collective expertise.”
Earlier this week, Infosys had announced a collaboration with SAP to offer business process transformation-as-a-service (BPTaaS) to enterprises.