This multibagger tech company partners with FundMore to deliver compliance automation solutions for mortgage lenders in Canada!
The company has a ROCE of 31.6 per cent and a ROE of 25.1 per cent.
Coforge is a global digital services and solutions provider that specialises in leveraging emerging technologies and deep domain expertise to drive tangible business outcomes for its clients. With a strong focus on select industries and a comprehensive understanding of their underlying processes, Coforge offers a unique perspective. The company excels in product engineering and harnesses the power of cloud, data, integration and automation technologies to enable intelligent, high-growth enterprises.
FundMore, an acclaimed mortgage underwriting software, has teamed up with Coforge Limited to create an advanced platform for automating quality control (QC), risk management and regulatory compliance in the mortgage industry. Given the industry's increased regulatory scrutiny, efficient and accurate loan production is crucial, making compliance automation a game-changing solution.
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By leveraging OCR technology, rules engines and automated workflows, QC automation significantly reduces review time and effort for loan files, resulting in more comprehensive, efficient and accurate QC and compliance processes. This partnership empowers financial institutions to optimise their quality control and compliance measures through the utilisation of advanced technology.
The company gave great returns of 36 per cent over the past 1 year and stellar returns of 235 per cent over the past 3 years. Additionally, the company has a ROCE of 31.6 per cent and a ROE of 25.1 per cent. Moreover, it has a healthy dividend payout ratio of 40.1 per cent.
On Monday shares of the company surged by 2.34 per cent to Rs 4506.95.
Investors should keep a close eye on this buzzing stock.