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Denver-based enterprise lending solutions provider Mortgage Cadence is being bought by Accenture. The technology and consulting leader announced the deal this week, but did not disclose terms.
Founded in 1999, Mortgage Cadence’s team optimizes, manages and scores lending performance using enterprise solutions. Accenture will fold the 190-person company into its Credit Services division. Using Mortgage Cadence’s advanced technology platform, Accenture hopes to bolster its business-process outsourcing. Another goal is to give mortgage lenders a way to increase efficiencies and drop costs using the software.
“The U.S. mortgage industry is entering an era in which efficiency, speed and the customer experience will be more crucial than ever in determining winners and losers,” said Terry Moore, global managing director of Accenture Credit Services. “By adding this key mortgage processing asset, we will enhance our end-to-end credit services capabilities and bring a new generation of mortgage processing services to the industry. This offers lenders improved speed-to-market, cycle-time, costs, and productivity.”
With over ten years experience providing loan origination software solutions to American residential mortgage lenders, the Mortgage Cadence team may be uniquely poised to improve Accenture’s services in this realm.
“Because our software is rules-based and highly configurable, it can help lenders accelerate new product introductions, more easily adapt to changing regulatory requirements, and reduce overall cost structures,” said Michael Detwiler, CEO of Mortgage Cadence. “By combining our technology with Accenture's mortgage processing and software development capabilities, we can deliver more holistic and advanced solutions that will help lenders compete.”
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