Zenta Introduces 'KPO' Outsourcing
Boasting offshoring credentials for the mortgage industry going back to 2000, Global Realty Outsourcing, Blackheath Financial and Zenta - formerly H-Cube - said that they are uniting under the Zenta brand to offer BPO and KPO (knowledge process outsourcing) services to the real estate and financial services industries.
Serving a marquee list of Wall Street and banking firms, the combined entity currently boasts more than 5,000 staff in New York, Los Angeles, London, Mumbai and Chennai, India, Philadelphia and Charlotte, N.C., with many Indian employees holding MBA degrees and chartered accountant certifications, according to company officials.
H-Cube was formed in January 2005 through a partnership between Lomas Information Services founder Henry Hortenstine and private equity firm GTCR Golder Rauner LLC. According to an earlier announcement, American Capital Strategies Ltd. invested $17 million in H-Cube LLC to support the acquisition of Blackheath Financial, which provides outsourced real estate analysis and consulting services to commercial mortgage-backed securities underwriters and investors.
"We had three objectives as we integrated our acquisitions," said Mr. Hortenstine, who serves as CEO of Zenta. "First, to provide one-stop shopping for our clients. Second, to improve our backup, recovery and business continuity capabilities by leveraging our multiple operations centers in Mumbai and Chennai. Third, to achieve scale economies and operational efficiencies."
"With a single, unified company," commented, Jack Freker, Zenta's president and chief operating officer, "we can offer our customers a broad array of integrated services from our operations centers around the globe. Zenta's sophisticated capabilities, our deep domain expertise in financial services, real estate and consumer credit, and our onshore/offshore model distinguishes us from traditional BPO providers and helps position us for stronger growth and profitability."
Knowledge processing outsourcing - generally defined as next-step BPO to provide advanced domain-specific analytical skills and expertise - has been predicted to be a $17 billion U.S. market by 2010. Mr. Hortenstine
said Zenta offers an "extremely powerful onshore/offshore model, in which a U.S. underwriter can have 1,500 underwriters" in India working on a project.
Zenta is no startup, Mr. Hortenstine told MSN. He claims a "five-year head start" for his company in leveraging offshore expertise. In 2000, when he began creating an offshore solution for the real estate finance market, "there was literally no [offshore] outsourcing in the mortgage industry, there was a glut of people, and costs were out of line. The economy was going into a tailspin, and the mortgage industry had a massive need to cut costs." (c) 2007 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com