Accenture Launches Mortgage Post-Closing Business Process Outsourcing Service at First National Bank of Arizona.Project employs first end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. for this part of mortgage process PHOENIX -- First National Bank of Arizona has awarded Accenture (NYSE NYSE See: New York Stock Exchange : ACN ACN Accenture (stock symbol) ACN Accenture ACN Australian Company Number ACN Automatic Collision Notification (US DOT) ACN Acetonitrile ACN Anglican Communion Network ) the mortgage industry's first-ever end-to-end post-closing business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in (BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra ) assignment. The Accenture service combines personnel, process and technology to fully automate this part of mortgage fulfillment. Financial terms of the two-year contract were not disclosed. Accenture will provide the bank with file-room services including imaging to convert paper documents into electronic form, indexing to capture relevant information in digital form, workflow services to speed processing, performance metrics Performance metrics are measures of an organizations activities and performance. Performance metrics should support a range of stakeholder needs from customers, shareholders to employees [1]. spanning the process, and data and document review to confirm that loans have met underwriting, servicing and secondary-market salability sal·a·ble also sale·a·ble adj. Offered or suitable for sale; marketable. sal  a·bil requirements.
Accenture will deliver the service both onsite and through its Global Delivery Network, which includes more than 40 centers in 30 cities around the world. Accenture will also utilize proven on-demand technology for mortgage-industry imaging, application integration and business process management from Epitome Systems, Inc. Accenture's post-closing BPO services are designed to help First National Bank of Arizona reduce costs, improve processing speed See MHz. , increase process efficiency and enhance the usefulness of loan information. The bank, which is one of the largest originators of home mortgages in Arizona, is seeking to continue to grow efficiently in this area while enhancing the quality of its loan fulfillment to better leverage servicing and secondary market opportunities. "First National Bank of Arizona is committed to its mortgage customers, who deserve the best products and fastest service we can provide," said R. Patrick Lamb, President of First National Bank of Arizona's Mortgage Division. "Strategically outsourcing this part of the process to Accenture will boost our processing efficiency. At the same time, digitizing documentation will make our loans more attractive to mortgage investors and loan servicers. Additionally, as mortgage volumes decline nationally, shifting to a variable cost-per-loan model allows us to better manage costs." Ted Landis, an Accenture senior executive who leads the company's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. credit practice and the mortgage BPO business, said the assignment will leverage Accenture's technology skills and industry experience to create the first completely automated mortgage post-closing process. "Post-closing mortgage processing is a black hole for originators today because of the huge volumes of paper and the need for many people to shuffle and review that paper," Landis said. "Digitizing this material opens significant opportunities in other parts of the processing value chain. Additionally, when originators are looking to better match lower mortgage volumes and expense, outsourcing can provide a variable and more predictable cost." About First National Bank of Arizona First National Bank of Arizona is the largest privately-held, family-owned banking institution in the Southwest. Headquartered in Scottsdale, it has more than 1,000 local employees and combined assets in excess of $4.0 billion. FNBA FNBA First National Bank of Arizona (Scottsdale, Arizona) FNBA Flexible Narrow Beam Adapter FNBA French National Basketball Association has 14 retail banking branches in the state, provides a full array of business and personal banking services and is a mortgage lender in 49 states. The bank was named as Arizona's #1 Bank in 2007 for the second year in a row in the Ranking Arizona survey. For more information: www.fnbaonline.com. About Accenture Accenture is a global management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects , technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills and technologies to help clients improve their performance. With more than 152,000 people in 49 countries, the company generated net revenues of US$16.65 billion for the fiscal year ended Aug. 31, 2006. Its homepage is www.accenture.com. |
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