TeleTech to Offer Mortgage Fulfillment Services to ABA Members
ENGLEWOOD, Colo., Sep 08, 2010 (BUSINESS WIRE) -- TeleTech Loan Services, LLC, a subsidiary of TeleTech Holdings, Inc. (NASDAQ: TTEC), one of the largest global providers of technology-enabled business process outsourcing ("BPO") solutions, today announced an exclusive, multiyear agreement with the American Bankers Association (ABA) to offer mortgage fulfillment services to ABA members.
"TeleTech's comprehensive suite of mortgage services helps our ABA members operate and compete more effectively in their markets," said William Kroll, ABA president of Business Solutions. "TeleTech's innovative technology platform coupled with its financial services expertise and commitment to driving quantifiable results for its clients make it a compelling solutions partner for ABA members and one that we are proud to endorse."
Under the terms of the agreement, the ABA will proactively market and promote TeleTech's mortgage fulfillment services to ABA's approximately 5,000 member banks. TeleTech's mortgage fulfillment services are offered on a private label basis and include end-to-end loan origination fulfillment and component services, all of which will be offered at advantaged terms to ABA members and performed in the United States. The ABA relationship will enable TeleTech to extend its market reach to thousands of financial institutions.
TeleTech's private label financial services solutions are uniquely tailored to clients' specific business requirements. TeleTech works hand-in-hand with its clients to develop solutions that increase efficiency while reducing error through advanced technology systems and process engineering. From pre-qualification through post closing, TeleTech's mortgage fulfillment solutions span the lifecycle of the origination process.
"The mortgage market is currently experiencing a significant change in origination channels and costs associated with origination processing," said Kenneth Tuchman, TeleTech chairman and chief executive officer. "The reduced availability of warehouse lines of credit is driving increased mortgage volume to retail channels and branch office loan specialists who do not have the operational capacity to handle this increase. TeleTech's mortgage fulfillment services are designed to help ABA member banks achieve their business objectives by providing advanced technology and flexible operating capacity."
TeleTech's mortgage fulfillment offering provides a variable cost model, while helping the ABA member banks lower fixed costs, stabilize staffing requirements and free up capital to focus on other high margin business opportunities.
TeleTech will be attending the 2010 ABA Annual Convention, Business Expo and Director's Forum from October 17th through 20th at the Hynes Convention Center in Boston.
TeleTech is one of the largest and most geographically diverse global providers of technology-enabled business process outsourcing solutions. TeleTech and its subsidiaries have a 28-year history of designing, implementing, and managing critical business processes for Global 1000 companies to help them improve their customers' experience, expand their strategic capabilities, and increase their operating efficiencies. By delivering a high-quality customer experience through the effective integration of customer-facing front-office processes with internal back-office processes, we enable our clients to better serve, grow, and retain their customer base. We use Six Sigma-based quality methods continually to design, implement, and enhance the business processes we deliver to our clients and we also apply this methodology to our own internal operations. TeleTech and its subsidiaries have developed deep domain expertise and support more than 275 business process outsourcing programs in the financial services, automotive, communications and media, government, healthcare, retail, technology and travel and leisure industries. Our integrated global solutions are provided to our clients' customers in 85 countries by more than 40,400 employees utilizing 34,700 workstations across 67 delivery centers. For additional information, visit http://www.teletech.com.
ABOUT AMERICAN BANKERS ASSOCIATION
The American Bankers Association represents banks of all sizes and charters and is the voice for the nation's $13 trillion banking industry and its 2 million employees. The majority of ABA's members are banks with less than $165 million in assets. Learn more at http://www.aba.com.
Karen Breen, 303-397-8592
Jerry Sebold, 202-663-7540