An integrated technology & operations white-labelled
AI-driven platform to help banks and credit unions provide their
customers seamless digital mortgage and home equity loan
experiences
NEW
YORK, Nov. 9, 2023 /PRNewswire/
-- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global
leader in next-generation digital services and consulting, today
announced a collaboration with Better Home & Finance Holding
Company (NASDAQ:BETR) (NASDAQ: BETRW), a leading digital-first
homeownership company, to launch Mortgage as a Service (MaaS), an
integrated end-to-end digital mortgage white-labelled
platform.
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By adopting Infosys-Better white-labelled MaaS, organizations
can revolutionize their mortgage operations. Better's proprietary
digital technology is an end-to-end platform including point of
sale, pricing, underwriting, loan origination, closing, funding and
investor sale - built to be cloud-native. Better has already funded
over $100 billion in fully digital
loans for the industry, and their status as an industry leader is
reflected in their client Ally's ranking as the #1 Digital Mortgage
Platform by J.D. Power. Infosys is one of the world's largest
digital service providers to mortgage firms helping them to
strengthen their technology and operations. With its digital-first,
cloud-first and AI-first approach, Infosys is best equipped to help
its clients to reap the advantages of Mortgage as a Service
faster.
"Our strategic collaboration with Better helps us deliver
best-in-class digital mortgage services to our customers in a
highly innovative, scalable and cost-efficient manner," said
Glenn Brunker, Head of
Ally Home, a top-rated national
digital lender who has collaborated with Better since 2019.
"Leveraging Better's digital platform has also helped us limit
operational volatility as the mortgage industry continues to evolve
in the current interest rate environment."
Henry Cason, CEO,
Finlocker, said, "Infosys has deep expertise in the mortgage
process and delivering large and complex programs for us while
reducing transformation risks. This Mortgage as a Service solution,
along with Infosys' expertise, has the potential to help firms
embrace a more efficient digital and automated approach to running
business operations."
Dennis Gada, EVP and Global
Head – Financial Services, Infosys, said, "Infosys is a
global leader in lending and mortgages. Through our AI-driven
operations, we help clients originate loans at significantly lower
costs than the industry average. Infosys and Better offer Mortgage
as a Service that will allow us to bring to our clients integrated
operations and technology with significant productivity
benefits."
Vishal Garg, CEO &
Founder, Better, said, "In a market saturated with
legacy products that inhibit digital transformation and lead to
great inefficiencies and high costs, Infosys and Better offer
increased multi-fold mortgage originations at unprecedented
speed."
About Better
Since 2017, Better has leveraged its industry-leading technology
platform, Tinman™, to fund more than $100
billion in mortgage volume. Tinman™ allows customers to see
their rate options in seconds, get pre-approved in minutes, lock in
rates and close their loan in as little as three weeks. Better's
mortgage offerings include GSE-conforming mortgage loans, FHA and
VA loans, and jumbo mortgage loans. Better launched its "One-Day
Mortgage" program in January 2023,
which allows eligible customers to "go from click to Commitment
Letter" all within 24 hours. From 2019-2022, Better completed
approximately $98 billion in mortgage
volume and $39 billion in coverage
written through its insurance arm, Better Cover. Better was named
Best Online Mortgage Lender by Forbes and Best Mortgage Lender for
Affordability by WSJ in 2023, and ranked #1 on LinkedIn's Top
Startups List for 2021 and 2020, #1 on Fortune's Best Small and
Medium Workplaces in New York, #15
on CNBC's Disruptor 50 2020 list, and was listed on Forbes FinTech
50 for 2020. Better serves customers in all 50 US states and the
United Kingdom.
For more information, contact better@bevelpr.com.
About Infosys
Infosys is a global leader in next-generation digital services
and consulting. Over 300,000 of our people work to amplify human
potential and create the next opportunity for people, businesses
and communities. We enable clients in more than 56 countries to
navigate their digital transformation. With over four decades of
experience in managing the systems and workings of global
enterprises, we expertly steer clients, as they navigate their
digital transformation powered by cloud and AI. We enable them with
an AI-first core, empower the business with agile digital at scale
and drive continuous improvement with always-on learning through
the transfer of digital skills, expertise, and ideas from our
innovation ecosystem. We are deeply committed to being a
well-governed, environmentally sustainable organization where
diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY)
can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth
prospects, or our future financial or operating performance are
forward-looking statements intended to qualify for the 'safe
harbor' under the Private Securities Litigation Reform Act of 1995,
which involve a number of risks and uncertainties that could cause
actual results or outcomes to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and
uncertainties regarding the execution of our business strategy, our
ability to attract and retain personnel, our transition to hybrid
work model, economic uncertainties, technological innovations such
as Generative AI, the complex and evolving regulatory landscape
including immigration regulation changes, our ESG vision, our
capital allocation policy and expectations concerning our market
position, future operations, margins, profitability, liquidity,
capital resources, and our corporate actions including
acquisitions. Important factors that may cause actual results or
outcomes to differ from those implied by the forward-looking
statements are discussed in more detail in our US Securities and
Exchange Commission filings including our Annual Report on Form
20-F for the fiscal year ended March 31,
2023. These filings are available at www.sec.gov. Infosys
may, from time to time, make additional written and oral
forward-looking statements, including statements contained in the
Company's filings with the Securities and Exchange Commission and
our reports to shareholders. The Company does not undertake to
update any forward-looking statements that may be made from time to
time by or on behalf of the Company unless it is required by
law.
For more information, please contact:
PR_Global@infosys.com
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SOURCE Infosys