Genpact to acquire MoneyLine

CHENNAI: Genpact,

a global provider of business services and technology solutions, announces it

plans to acquire Irvine, CA-based MoneyLine Lending Services.






Founders Evan Gentry, president and CEO; Taylor Woods, executive vice president,
operations and IT; and Brad Barber, executive vice president, Financial

Institutions; will remain with MoneyLine, which will become part of Genpact

Mortgage Services. Terms of the deal, expected to close in August, were not

disclosed.






“This is another great acquisition for us,” commented Genpact president and
CEO, Pramod Bhasin. “Not only does Genpact share MoneyLine's values of

integrity and process excellence, it gives MoneyLine access to our global

delivery capability and enables Genpact to deepen its offerings in the mortgage

services business. There is tremendous opportunity within this $30 billion

market to streamline costs and pass those savings back to the lenders and

consumers,” added Bhasin.






“Last year, Genpact acquired Creditek, a leader in revenue cycle management
and order-to-cash outsourcing services based in Parsippany, NJ. Since that

acquisition, in July 2005, Creditek's contracts as a Genpact subsidiary have

quadrupled,” Bhasin said.






Established in 1996, MoneyLine today is the exclusive provider of outsourced
mortgage services for more than 50 financial institution clients, including 10

signed in 2006.






Evan Gentry, to be president and CEO of Genpact Mortgage Services, said, “As
Genpact Mortgage Services we will continue to provide our proven mortgage

solutions with the personalized service and private-label approach MoneyLine is

known for, while gaining Genpact's robust global delivery and world-renowned

process tools that will give our business a much broader reach.”






“Essentially we are providing the ultimate outsourced mortgage solution,
utilizing the best of onshore, global delivery, scale and global resources to

address the outsourcing needs of large mortgage producers worldwide,” Gentry

summarized.






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