Infosys partners with US mortgage bank for digital transformation

Bengaluru-based information technology services giant Infosys has been selected by the US mortgage bank Movement Mortgage for its digital transformation and development services.

India’s second-largest IT exporter claims its digital solutions will help the US bank to keep pace with the technology requirements. The six-year deal will also help Infosys to cement its position as one of the leading service providers in the US mortgage industry, according to a media statement. The company did not disclose the financial details of the deal.

The South Carolina-based bank has a network of 650 locations spread across 47 states in the US. The partnership will ensure the smooth transition of business models in the company’s transformation projects apart from leveraging the bank's fintech services to develop mortgage industry-specific solutions for Infosys customers, the statement said.

“We are committed to providing loan officers, real estate agents and our borrowers with technology and a digital infrastructure that delivers an innovative, user-friendly experience on every platform and in every channel," said Casey Crawford, chief executive officer of Movement Mortgage.

Movement Mortgage has funded more than $55 billion in residential mortgages since 2008 and is the seventh-largest retail mortgage lender in the US. The company has more than 3,500 employees.

“We have pioneered IT as a service for the financial industry by providing our clients with unique, industry-focused solutions as they embark on their digital transformation journeys,” said  Mohit Joshi, president at Infosys.

Infosys is in the middle of a whistleblower controversy after an anonymous group accused the company of inflating its topline and profit numbers. However, this has not impacted the customer acquisition, the company co-founder and chairman Nilekani said during an analyst call on Wednesday.