Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced that it would collaborate with Frost Bank to provide strategic business consulting and digital capabilities that will enable Frost Bank to offer mortgage loans along with its other consumer loan products. Infosys will help design the bank's mortgage loan process landscape from origination to servicing, design the end-customer experience, and select the most effective technology platform to run and manage operations, while driving growth for its mortgage solutions over the next five years.
Infosys and Frost Bank will work together to create a human-centric, digital-first approach to customer mortgage loans that delivers superior borrower experience along with cutting-edge efficiency of operations. The implementation strategy will focus on accelerating launch of the new product, while also streamlining the mortgage value chain for Frost Bank by taking advantage of Infosys' access to global best practices and innovations.
"Offering mortgage loans along with our other consumer loan products is integral to meeting our customers' evolving needs and bringing the Frost experience to more Texans," said Phil Green, Chairman and CEO at Frost Bank. "Working with a world-class company like Infosys will allow us to be involved in the entire process from start to finish and bring our industry-leading customer service experience to mortgages."
Infosys also has deep expertise and long years of experience in collaborating with independent mortgage solution providers and regional banks in the US. Frost Bank can leverage this to compete profitably in a rapidly transforming competitive landscape.
Mohit Joshi, President, Infosys said, "At Infosys, we have built strong capabilities in transforming mortgage businesses by providing our clients with unique solutions that meet their customers' expectations of speed, transparency, convenience, and personalization. Our collaboration with Frost Bank sets the stage for a new era of mortgage services, and we are excited to bring to this engagement, our collective expertise."
Shares of Infosys Ltd was last trading in BSE at Rs. 1702.35 as compared to the previous close of Rs. 1711.1. The total number of shares traded during the day was 87136 in over 4368 trades.
The stock hit an intraday high of Rs. 1722 and intraday low of 1691.6. The net turnover during the day was Rs. 148194349.