iGATE Global
Solutions has entered into a five-year deal with the US-based GreenPoint Mortgage,
one of the leading mortgage firms in the United States. Under this deal, worth
$20 million, iGATE will manage some parts of GreenPoint’s back-office processes.
iGATE’s role will consist of profiling potential customers, at which point
GreenPoint will take over and offer them loan products to these pre-selected
potential customers. The back office processing will be done at iGATE’s
new 14-acre campus that will come up shortly in Bangalore. iGATE will assemble
a dedicated team of 150 to 200 people for this project. The team will largely
consist of PhDs and MBAs. The deal is based on the transaction-pricing model
and is a first for iGATE.
Phaneesh Murthy, CEO, iGATE Global Solutions said, “We will make GreenPoint
Mortgage more competitive in the market place by providing it with superior
analytics, process and technology optimisation and by relocating some of its
services to India.” GreenPoint Mortgage focuses on speciality mortgage
loans and launches a new loan product every 21 days. 85 percent of GreenPoint’s
business comes from independent mortgage brokers and the rest from other banks
and the company’s retail channel.
iGATE Global
Solutions has entered into a five-year deal with the US-based GreenPoint Mortgage,
one of the leading mortgage firms in the United States. Under this deal, worth
$20 million, iGATE will manage some parts of GreenPoint’s back-office processes.
iGATE’s role will consist of profiling potential customers, at which point
GreenPoint will take over and offer them loan products to these pre-selected
potential customers. The back office processing will be done at iGATE’s
new 14-acre campus that will come up shortly in Bangalore. iGATE will assemble
a dedicated team of 150 to 200 people for this project. The team will largely
consist of PhDs and MBAs. The deal is based on the transaction-pricing model
and is a first for iGATE. 