Infosys Improves Greenpoint's Productivity Through Technology Re-engineering
FREMONT, Calif., Feb. 21, 2002: Infosys Technologies Ltd. (Nasdaq: INFY), today announced it provided business process consulting, analysis and implementation for GreenPoint's, improving productivity and reducing operation costs by more than $5 million a year.
Due to dramatic shifts in mortgage rates, business volume rapidly outgrew GreenPoint's, existing business processes and information systems. The Infosys - led project, which began in June 2001, streamlined business processes and improved the capabilities of this GreenPoint Financial, Corp. (NYSE: GPT) subsidiary's information systems to improve loan - processing output, reduce inaccuracies, improve response times and minimize operating costs.
"In order to significantly expand our scalability, reduce our loan origination costs and increase our ability to high level of service to our customers, we needed innovative solutions," said S. A. Ibrahim, CEO of GreenPoint Mortgage. "We didn't know of any company that could execute that plan until we met Infosys."
"Most business consultant and IT service firms' business models reflected their view of us as just another mortgage banker. They ignored the fact that we are a specialty finance company with a unique business philosophy," Ibrahim continued. "We have been impressed with Infosys' reengineering skills and ability to recommend process solutions."
GreenPoint benefited from several Infosys methodologies; including its risk management and change management competencies and software development expertise. The all - encompassing project began with a global view that was then targeted to individual departments and employees.
"It has always been Infosys' objective to provide measurable business value in all of its engagements," said Phaneesh Murthy, member of the board and head of worldwide sales and marketing for Infosys. "We are proud to offer an innovative specialty finance company significant savings per year in its operation costs."