Genpact acquires High Performance Partners
BPO player Genpact acquired 100 percent stake in High Performance Partners (HPP) and their Quantum Mortgage Technology.
Genpact had previously announced an initial equity investment in HPP in March 2010.
Genpact will leverage the Quantum software platform to support its Mortgage Business Process as a Service offering.
“With our combination of integrated technology, processing services expertise, and data insights, Genpact’s end-to-end services are uniquely positioned to help our mortgage clients make smarter decisions, resulting in improved business outcomes,” said Scott McConnell, Senior Vice President, Americas Operations Leader for Genpact.
According to a company statement, the Quantum platform helps originators and lenders to automate and streamline major elements of the loan origination process, resulting in a shorter loan lifecycle and a more transparent mortgage asset.
Roger Hull, founder and CEO of HPP, will lead the ongoing development of Quantum for Genpact as Vice President of Genpact Mortgage Services.
“Mortgage lenders are shifting away from document-centered mortgage technology to data-centric processes that will enable significant process streamlining,” Hull said. “Through Quantum, Genpact is providing an innovative data-centric, mortgage technology platform that will provide lenders with efficient workflows and investors with more transparent risk information.”
In April this year Genpact acquired consulting and IT services firm Headstrong Corporation for a cash consideration of $ 550 million. Headstrong has domain expertise in several segments of the capital markets vertical like asset management, derivatives, wealth management, prime brokerage, reference data, compliance and mortgages.
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