= Members Only Content
NEWS RELEASE
September 1, 2010
ABA Media Contact: Margot Mohsberg Johnson
(202) 663-5470
E-mail: mmjohnso@aba.com
TeleTech Contact: Karen Breen
(303) 397-8592
E-mail: karen.breen@teletech.com
ABA ANNOUNCES MULTIYEAR AGREEMENT WITH TELETECH
TO OFFER MORTGAGE FULFILLMENT SERVICES
WASHINGTON — Business Solutions, an affiliate of the American Bankers Association, has entered into an exclusive, multiyear agreement with TeleTech Loan Services, LLC, a subsidiary of TeleTech Holdings Inc. (NASDAQ: TTEC), to offer mortgage fulfillment services to ABA member banks.
Participating banks can outsource one or all components of the mortgage origination process to TeleTech in order to increase efficiency and quality via advanced technology systems and process engineering. TeleTech services will be offered to ABA members at advantaged terms on a private label basis.
“This new agreement with TeleTech will help member banks that are experiencing increased demand to expand their capacity quickly and efficiently,” said William Kroll, president of Business Solutions. “It will also provide a trusted, experienced third-party provider for banks that want to offer residential mortgage loans but don’t want to invest in the infrastructure to do them internally.”
“The changes in the mortgage market are driving increased loan volume back to financial institutions that may not have the operational capacity to handle this increase,” said Kenneth Tuchman, TeleTech chairman and chief executive officer. “ TeleTech’s mortgage fulfillment services leverage our advanced technology platform and financial services expertise to help ABA member banks seamlessly expand their operational capacity to achieve their business objectives.”
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. All TeleTech outsourcing services for ABA members will be performed in the United States.
TeleTech joins a comprehensive suite of mortgage partnerships that help ABA members compete more effectively in their markets. To learn more, contact ABA’s Jerry Sebold at or 202-663-7540.
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 www.aba.com.
About Business Solutions
Business Solutions offers ABA members competitive products and innovative solutions selected by bankers for bankers that will help you save money, build customer relationships and improve your bottom line. Our unmatched, value-added products and services in Mortgage Solutions, Payment Solutions, Capital Markets, and Commercial Lending & Business Banking will minimize your expenses, maximize your bank’s performance and, in many cases, offset your ABA dues.
About TeleTech
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 serving approximately 85 global clients in the automotive, communications and media, financial services, government, healthcare, retail, technology and travel and leisure industries. Our integrated global solutions are provided by approximately 40,400 employees utilizing 34,700 workstations across 67 delivery centers in 16 countries. For additional information, visit www.teletech.com
# # #
