ABN AMRO and Infosys partner for digital mortgage tech push
Dutch bank ABN AMRO will leverage Infosys tech throughout the mortgage services value chain, with the aim of improving experience and operational efficiencies, allowing the firm to help clients in their digital transformations.
End-to-end mortgage administration services
As part of the announced partnership, Infosys will acquire 75% of the shareholding in Stater, a subsidiary of ABN AMRO that offers pure-play, end-to-end mortgage administration services in the Netherlands, Belgium and Germany.
ABN AMRO will continue to hold the remaining 25% of the shareholding.
“While mortgages are a key product for ABN AMRO, providing administrative mortgage services is not a core activity,” says Christian Bornfeld, member of the executive board of ABN AMRO.
Stater operates across the mortgage and consumer lending value chain with capabilities in digital origination, servicing and collection.
Infosys will drive the digital transformation roadmap of Stater with accelerators such as dynamic workflow, API layers, RPA and analytics. Stater will not change management following the acquisition.
Mortgage services is a focus area for large corporations in the financial sector, given the importance of the asset on a bank’s balance sheet. Infosys cites the expertise of Stater, as well as its artificial intelligence (AI) as the reason for this move.
The transaction is expected to close during the first quarter of fiscal 2020, subject to customary closing conditions.
