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EDS and Abbey National Team Up to Service Home Loans in the U.K.(Brief Article)
Abbey National has agreed to a joint venture with Electronic Data Systems to service Abbey's retail mortgage and personal loans.
Furthermore, the venture will perform the same services for other lenders in the United Kingdom and Europe looking to outsource their servicing function.
EDS is based in Dallas. The company has been exploring opportunities in the mortgage business in the U.K.
Peter Clough, president of EDS business process management for Europe, Africa and the Middle East, said "this milestone agreement lays the foundation for the creation of the U.K.'s largest third party administrator for lenders, and is consistent with EDS's commitment to the U.K. market.
"EDS brings its technology and business process management expertise to the new venture and Abbey National brings its size, lending experience and excellent people."
The ...
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Source: HighBeam Research, EDS and Abbey National Team Up to Service Home Loans in the...