Vendor Analysis
published on May 06, 2022
Report Overview:
This NelsonHall vendor assessment analyzes Cognizant's offerings and capabilities in Mortgage & Loan Services.
Who is this Report for:
NelsonHall’s ‘Transforming Mortgage & Loan Services’ Vendor Assessment for Cognizant is a comprehensive assessment of Cognizant’s lending industry digital services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of M&L processes and identifying vendor suitability for M&L services RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of M&L services offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphases and new developments
- Analysis of the company’s strengths, weaknesses and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and key service components
- Analysis of the company’s delivery organization including the location of delivery locations.
Key Findings & Highlights:
Cognizant entered the M&L BPO line of business in 2004 as part of its Horizon 2 initiative focusing on industry-specific processes. It did not want to offer what it viewed as commoditized services, so it decided to focus on industry-specific services, especially loan origination. Cognizant’s first move into M&L was in bank lending processes, and its first win was processing student loans for a bank. From student loan processing, Cognizant expanded into mortgage loan processing. Initially, it provided single processes for mortgage lenders; over time, this has expanded into multiple processes for both lenders and master servicers.
Cognizant is focusing on delivering digital services to clients, including lenders, to enhance business value. In 2021, Cognizant acquired seven digital, cloud, and DevOps services companies to enhance its digital capabilities, including Servian, Linium, Magenic Technologies, ESG Mobility, TQS Integration Ltd., Hunter Technical Resources, and DevBridge. In 2021 it also sold Oy Samlink, a Finnish IT services vendor for the banking industry in Finland, to Kyndryl to focus its offerings on larger market opportunities.