Bengaluru-headquartered Infosys Ltd has bagged a five-year deal from Texas-based Frost Bank to provide strategic business consulting and digital capabilities. This will enable the latter to offer mortgage loans along with its other consumer loan products.
Financial details of the deal were not disclosed.
Infosys said it will help design the bank’s mortgage loan process landscape from origination to servicing. As part of the deal, it will also design the end-customer experience, and select the most effective technology platform to run and manage operations, while driving growth for Frost Bank’s mortgage solutions over the next five years.
“Infosys and Frost Bank will work together to create a human-centric, digital-first approach to customer mortgage loans that delivers superior borrower experience along with cutting-edge efficiency of operations,” Infosys said in a statement.
Infosys has built strong capabilities in transforming mortgage businesses by providing clients with unique solutions that meet their customers’ expectations of speed, transparency, convenience, and personalization, said Mohit Joshi, president, Infosys. “Our collaboration with Frost Bank sets the stage for a new era of mortgage services, and we are excited to bring to this engagement, our collective expertise.”
The implementation will focus on accelerating launch of new products by Frost Bank, apart from streamlining the mortgage value chain.
“Offering mortgage loans along with our other consumer loan products is integral to meeting our customers’ evolving needs and bringing the Frost experience to more Texans,” said Phil Green, chairman and CEO at Frost Bank in the statement.
He added, “Working with a world-class company like Infosys will allow us to be involved in the entire process from start to finish and bring our industry-leading customer service experience to mortgages.”