Ohpen and Cognizant expand collaboration to transform mortgage markets in Europe, Australia and USA 

 Ohpen, the SaaS core banking platform for financial institutions that want to serve customers better​, announces that it is extending  its partnership with Cognizant to digitalise legacy mortgage processes in Europe, Australia and the United States.  

According to McKinsey, the residential mortgage market can represent almost 80% of retail credit and 40% of a retail bank’s total credit portfolio in Western countries. Prevailing economic instability has challenged this custom and increased the need for innovation. However, legacy systems have made it hard for many banks to pivot and react quickly to changing market conditions. 

Working together, Ohpen and Cognizant will focus on digitalising end-to-end mortgage processing. Supported by Cognizant’s proven Business Process Outsource (BPO) services, this digitalised process will drive efficiency throughout the mortgage application process. The companies will also collaborate on new technologies, including artificial intelligence (AI) aimed at enabling faster transactions, increasing accuracy of offers and reducing risks of errors and fraud.  

Matthijs Aler, CEO, Ohpen comments “We see partners playing an integral role in Ohpen’s journey to enter new markets and scale internationally. Leveraging Cognizant’s country knowledge, excellent system delivery and full BPO services, we will deliver financial services fit for the future across Europe, Australia and the USA.  

“We continue to invest in developing our platform to make it possible for banks to react to market conditions quickly and realise new commercial opportunities through innovation and modernisation.”