SAO PAULO--(BUSINESS WIRE)--Accenture (NYSE:ACN) has completed its acquisition of a majority stake in Vivere Brasil Serviços e Soluções S.A. (Vivere Brasil), a leading mortgage-processing technology company. The acquisition will enable Accenture to expand its mortgage-services capabilities and help banks increase their efficiencies and capacity for processing loans in Brazil’s rapidly growing mortgage market.
Accenture now has majority ownership and management responsibility for Vivere Brasil. BTG Pactual, a leading Latin American investment bank, and Vivere Brasil’s founders have retained a minority stake in the company. Accenture announced the agreement to acquire its stake on September 16, 2013.
Founded in 2006, Vivere Brasil has developed a comprehensive mortgage origination and portfolio administration software platform. The technology is used by several leading Brazilian institutions.
“Our goal is to be a leading provider of mortgage-processing services in Brazil,” said Luis Simões, the newly appointed head of Vivere Brasil and a former Accenture managing director. “By investing in and developing Vivere Brasil’s industry-leading technology, and combining it with Accenture Credit Services’ proven business process outsourcing capabilities, we can offer greater mortgage-processing capacity, efficiencies, and quality-controls to banks in this fast-growing market.”
Mortgage loans in Brazil represent 7.4 percent of gross domestic product (GDP), according to central bank estimates (compared with 10 percent in China and 81 percent in the United States). They are expected to grow to 10 percent of GDP by 2015, according to the country’s mortgage banking association.
“Lenders that use advanced technology in combination with outsourced mortgage-processing can gain a major strategic advantage,” said Terry Moore, global managing director of Accenture Credit Services. “It allows them to scale up quickly to capture market share on an efficient platform with a variable cost-structure. The model is already proving itself in the U.S., where the housing market is on the rise, and where profitability and higher quality-controls and service expectations are the driving factors.”
Accenture has significantly expanded its global mortgage industry capabilities since its 2011 launch of Accenture Credit Services and through several strategic acquisitions. In September, Accenture announced that it has acquired Mortgage Cadence, an advanced mortgage loan origination software provider in the U.S. market. In 2011, it acquired a leading provider of residential and commercial mortgage-processing services in the U.S., formerly known as Zenta.
About Accenture
Accenture is a global management consulting, technology services and outsourcing company, with approximately 275,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page is www.accenture.com.
Accenture Credit Services is a business service within Accenture’s financial services operating group that provides consulting, technology and outsourcing services to institutions in the residential mortgage, commercial real estate, leasing and automotive finance industries. It is a leading provider of mortgage processing services in the U.S. and serves more than 100 major lending institutions worldwide.
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