NEW YORK CITY — Accenture (NYSE: ACN) has agreed to acquire Zenta, a provider of residential and commercial mortgage processing services in the United States. In conjunction with the agreement, Accenture is launching Accenture Credit Services, a full-service consulting, technology and BPO capability that will expand its support for institutions in the residential mortgage, commercial real estate, leasing and automotive finance industries, of which Zenta’s mortgage processing capabilities will be a key component. Terms of the transaction were not disclosed, and the acquisition is subject to closing requirements.
“The wave of regulations and a changing credit environment are redefining the competitive landscape of the mortgage industry,” said Terry Moore, global managing director of Accenture Credit Services. “In the residential mortgage business, low customer satisfaction, rising fulfillment costs, and falling pull-through rates — coupled with slower refinancing and purchase activity — are undercutting profitability. On the servicing side, regulatory changes are forcing operational transformation.”
The acquisition is intended to address these challenges by combining Zenta’s resources in mortgage processing with Accenture’s services to financial institutions for designing and executing complex, large-scale business transformations, expanding Accenture’s ability to help lenders, servicers and REITs retool and streamline their operations.
Headquartered in Dallas, Zenta is one of the top three providers of mortgage processing services in the U.S., serving four of the five largest U.S. banks. Zenta’s approximately 3,700 employees are expected to join Accenture. Its services include residential and commercial mortgage origination and servicing, default management, real estate portfolio management, and accounts receivable management. Zenta is also among the largest providers of real estate accounting and capital market analytics to U.S. REITs, institutional investment managers, owners and operators, and investment banks. The company also provides a variety of other credit related services.
“As part of Accenture, we can offer our clients greater scale, a broader range of services and world leading business process expertise to help them meet new market demands,” said Henry Hortenstine, CEO of Zenta.
— Dan Marcec