Wipro Ltd., an India-based IT and outsourcing company, has formed a joint venture with Davis + Henderson Income Fund, the supplier of cheques to Canada's banks and services to the mortgage lending industry.
Financial terms of the arrangement weren’t disclosed.
In addition to being Canada's largest provider of programs to support chequing accounts, D+H provides software for the mortgage origination industry as well as lien search and registration services to the financial services industry.
“Increasingly, those solutions involve taking over the management of key business processes and it’s critical that we’re able to offer our clients the flexibility and cost benefits associated with a global delivery model,” Gerrard Schmid, D+H’s president and chief operating officer said in a statement.
Davis + Henderson said it has begun a number of initiatives with Wipro. Together, they’re jointly developing a web portal for indirect loan origination. They’re also working on a proposal for a contact centre that would combine both companies’ onshore and offshore capabilities.
The partners are also mapping out a comprehensive back office solution for lenders interested in outsourcing parts of the overall lending lifecycle.