Management consulting and tech services company Accenture announced today it has entered into an agreement to acquire Dallas-based Zenta, a provider of mortgage processing services, to expand its business process outsourcing (BPO) portfolio.
In conjunction with the agreement, Accenture will launch a new full-service consulting, technology and BPO arm, called Accenture Credit Services, to support clients in the residential mortgage, commercial real estate, leasing and auto finance industries. The company said Zenta's mortgage processing capabilities will be a key component of the service.
The move to acquire Zenta is partly a response to the heightened and ever-changing financial regulatory environment.
"The wave of regulations and a changing credit environment are redefining the competitive landscape of the mortgage industry," said Terry Moore, global managing director of Accenture Credit Services in a prepared statement. "In the residential mortgage business, low customer satisfaction, rising fulfillment costs, and falling pull-through rates -- coupled with slower refinancing and purchase activity -- are undercutting profitability. On the servicing side, regulatory changes are forcing operational transformation."
Zenta is a top-three mortgage processing service provider and serves four of the largest five U.S. banks. Zenta also provides real estate accounting and capital market analytics and a variety of credit-related services.
Terms of the deal were not immediately disclosed.
Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio