Kolkata: Infosys Technologies has announced that it has provided business process consulting, analysis and implementation for GreenPoints core business systems, thus improving the latters productivity and reducing operation costs by more than $5 million a year.
Due to dramatic shifts in mortgage rates, the business volume rapidly outgrew GreenPoints existing business processes and information systems. The Infosys-led project, which began in June 2001, streamlined business processes and improved the capabilities of this GreenPoint Financial subsidiarys information systems to improve loan-processing output, reduce inaccuracies, improve response times and minimise operating costs.
"In order to significantly expand our scalability, reduce our loan origination costs and increase our ability to a high level of service to our customers, we needed innovative solutions," says GreenPoint Mortgage CEO S A Ibrahim.
"We didnt know of any company that could execute that plan until we met Infosys. Most business consultants and IT service companies business models reflected their view of us as just another mortgage banker. They ignored the fact that we are a specialty finance company with a unique business philosophy," says Ibrahim. "We have been impressed with Infosyss reengineering skills and ability to recommend process solutions."
GreenPoint benefited from several Infosys methodologies; including risk management and change management competencies and software development expertise. The all-encompassing project began with a global view that was then targeted to individual departments and employees.
GreenPoint Financial is a leading North American specialty finance company with more than $25 billion in annual loan originations.