Accenture, Zenta to Merge, Increase Mortgage-Processing Services
- Aug 23, 2011
August 23, 2011
By Barbra Murray, Contributing Editor
With the stroke of a pen, Accenture, an international global-management consulting, technology services and outsourcing company, is now on the verge of expanding its mortgage-processing services offerings by leaps and bounds. The company has entered into an agreement to acquire Zenta, one of the country’s top three providers of commercial and residential mortgage processing services.
By acquiring Zenta and bringing aboard its 3,700 employees, Accenture will be able to boost, by a substantial percentage, its capacity to assist lenders, servicers and REITs in successfully adapting to current changes in the credit market. To that end, Accenture is also kicking off Accenture Credit Services, a new full-service consulting, technology and business process outsourcing platform.
Both the acquisition of Zenta and the creation of the new platform are timely moves. “The wave of regulations and a changing credit environment are redefining the competitive landscape of the mortgage industry,” Terry Moore, global managing director of Accenture Credit Services, said. “This acquisition will help our clients address these challenges by combining Zenta’s resources and expertise in mortgage processing with Accenture’s long track record helping financial institutions design and execute complex, large-scale business transformations.”
Financial terms of the merger have not been disclosed. Ultimately, the transaction will significantly enhance Accenture’s net revenues, which amounted to $21.6 billion for the fiscal year that closed August 31, 2010.