Infosys secures 5-year agreement from Frost Bank to offer new mortgage products
IT giant Infosys has announced its collaboration with Frost Bank to provide strategic business advice and digital capabilities that will enable Frost Bank to offer mortgages along with its other consumer lending products. Infosys will help shape the landscape of the bank’s mortgage lending process from inception to management, design the end-customer experience and select the most efficient technology platform to execute and manage operations while driving business. the growth of its mortgage solutions over the next five years.
The duo will work together to create a human-centric, digital approach to customer mortgage lending that delivers a superior borrower experience along with industry-leading operational efficiency.
The implementation strategy will focus on accelerating the launch of the new product, while streamlining the mortgage value chain for Frost Bank by leveraging Infosys’ access to global best practices and innovations.
Mohit Joshi, President of Infosys, said: “At Infosys, we have developed a strong capability to transform the mortgage business by providing our clients with unique solutions that meet their clients’ expectations for speed, transparency, convenience and customization. Our collaboration with Frost Bank paves the way for a new era of mortgage services, and we are delighted to bring our collective expertise to this commitment.
“Providing mortgages with our other consumer loan products is integral to changing the needs of our customers and the Frost experience to more Texans,” said Phil Green, President and CEO from Frost Bank. “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. “
Infosys also has extensive expertise and years of experience working with independent mortgage solution providers and regional banks in the United States. Frost Bank can leverage this to compete in a rapidly changing competitive landscape.
At around 12:55 pm Infosys was trading at Rs1708.35 per coin, rising slightly on Sensex.