Infosys teams up with Better to offer Mortgage-as-a-Service 

India's second largest IT services firm Infosys has announced a collaboration with Better Home & Finance Holding Company, a leading digital-first homeownership firm. The joint venture aims to unveil Mortgage-as-a-Service (MaaS), an integrated end-to-end digital mortgage white-labeled platform.

Organisations adopting the Infosys-Better white-labeled MaaS are poised to revolutionise their mortgage operations. Better's proprietary digital technology comprises a comprehensive platform covering point of sale, pricing, underwriting, loan origination, closing, funding, and investor sale, all designed to be cloud-native. Noteworthy is Better's track record, having funded over $100 billion in fully digital loans and achieving recognition as an industry leader, as evidenced by Ally's top-ranking as the #1 Digital Mortgage Platform by J.D. Power.

Infosys is set to enhance technology and operations through this collaboration. With a digital-first, cloud-first, and AI-first approach, Infosys is uniquely positioned to assist clients in swiftly harnessing the benefits of Mortgage as a Service.

Glenn Brunker, Head of Ally Home, expressed, “Our strategic collaboration with Better helps us deliver best-in-class digital mortgage services to our customers in a highly innovative, scalable, and cost-efficient manner. Leveraging Better’s digital platform has also helped us limit operational volatility as the mortgage industry continues to evolve in the current interest rate environment.”

Henry Cason, CEO of Finlocker, highlighted Infosys' expertise in managing large and complex programs, reducing transformation risks. He stated, “This Mortgage as a Service solution, along with Infosys’ expertise, has the potential to help firms embrace a more efficient digital and automated approach to running business operations.”

Dennis Gada, EVP and Global Head — Financial Services, Infosys, emphasized the global leadership of Infosys in lending and mortgages. Through AI-driven operations, Infosys aids clients in originating loans at significantly lower costs than the industry average. The collaboration between Infosys and Better aims to provide Mortgage as a Service, integrating operations and technology with substantial productivity benefits.

Vishal Garg, CEO and Founder of Better, noted the market's saturation with legacy products hindering digital transformation, resulting in inefficiencies and high costs. Infosys and Better's offering of Mortgage as a Service promises increased multi-fold mortgage originations at an unprecedented speed, providing a dynamic solution in the evolving landscape of the mortgage industry.

Earlier, Infosys inked a five-year collaboration deal with Smart Europe GmbH, an automotive company on October 26. The objective of this partnership is to elevate the digital sales and customer experience for Smart Europe.

In the same month on October 18, the IT firm expanded its ongoing collaboration with Google Cloud. The goal of this expansion is to enable enterprises to unlock the capabilities of artificial intelligence (AI) by combining Infosys' Topaz offerings with Google Cloud's generative AI solutions.