October 15, 2015
BBVA Compass Deploys Mortgage Origination Software Suite from Accenture to Help Streamline Operations, Enhance Borrower Experience
NEW YORK; Oct. 15, 2015 – BBVA Compass has deployed an end-to-end mortgage software suite from Accenture (NYSE: ACN) to streamline the bank’s real estate lending operations and enable its clients with digital tools to apply for and track loans.
BBVA Compass is using Accenture Mortgage Cadence’s Enterprise Lending, Borrower, Imaging and Document Center software to support its 672 branches across the United States. The new suite includes a core loan origination system and an advanced set of tools for online origination, electronic imaging and automated document management.
“The Accenture Mortgage Cadence software empowers our mortgage clients by giving them the information they need, whenever and wherever they are,” said Eduardo Castaneda, executive director of Real Estate Lending for BBVA Compass. “It also helps us respond nimbly and increase efficiencies in a changing regulatory environment.”
Castaneda said Accenture’s mortgage processing expertise and commitment to providing lenders with state-of-the-art technology was a key reason for the bank’s decision. “We have a long-standing relationship with Accenture, so we understand their core technology and mortgage processing technology capabilities,” he said. “We are confident this software suite will position us to meet the needs of our clients now and well into the future.”
“As the mortgage industry evolves and consumers demand access to more digital capabilities, lenders that can adapt fastest will win,” said Terry Moore, senior managing director and head of Accenture Credit Services. “By embracing cloud-based systems and new lending innovations along with an industrialized mortgage processing solution, BBVA Compass continues to show foresight and market leadership.”
“BBVA Compass’ choice of our software suite is further evidence of our unique capabilities to assist banks in adapting their business to meet new and emerging consumer demands, as well as their need to lend more efficiently, profitably and compliantly,” said Trevor Gauthier, managing director of Accenture Mortgage Cadence.
Accenture Mortgage Cadence is a robust mortgage loan origination software suite that covers the full lending cycle from start to finish. Lenders can process, underwrite, close and fund loans virtually anytime and anywhere. The suite also includes the Borrower Center, a point-of-sale portal for customers that simplifies the loan application process and includes up-to-date information concerning the borrower’s pending application.
About BBVA Compass:
BBVA Compass is a Sunbelt-based financial institution that operates 672 branches, including 341 in Texas, 89 in Alabama, 77 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico, and commercial and private client offices throughout the U.S. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration, and its mobile app recently earned the Mobile Banking Leader in Functionality Award for the second consecutive year from Javelin Strategy & Research. Additional information about BBVA Compass can be found at www.bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com.
Accenture is a global management consulting, technology services and outsourcing company, with more than 358,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$31.0 billion for the fiscal year ended Aug. 31, 2015. Its home page is www.accenture.com.
Accenture Software combines deep technology acumen with industry knowledge to develop differentiated software products. It offers innovative software-based solutions, like Accenture Mortgage Cadence, to enable organizations to meet their business goals and achieve high performance. Its home page is www.accenture.com/software. Accenture Mortgage Cadence serves as the core mortgage loan-origination platform for Accenture Credit Services, a business service providing consulting, technology and outsourcing services to the residential mortgage, commercial lending, leasing and automotive finance industries.
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