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March 25, 2010 – Marlborough Stirling Canada (MSC) is pleased to announce that ICICI Bank Canada has begun offering its mortgage products to the broker market using MorWEB.
”We are excited to work with Marlborough Stirling Canada in the first phase of our launch in the mortgage broker market,” said Rajesh Ramakrishnan, Vice President, Retail Banking & Operations, ICICI Bank Canada. “We believe that implementing MorWEB will help us extend our product offerings beyond our branch network to the mortgage brokers efficiently as MorWEB is straightforward and it guides agents through the process quickly and easily.”
ICICI Bank Canada’s applications along with applications from selected MorWEB brokers will be supported by MorWEB through the entire origination process, including real-time electronic condition and document tracking. Additional reporting capabilities will allow ICICI Bank Canada to continually monitor turnaround times and workflow, so that applications can be processed immediately upon receipt, ensuring that their high standards of service are met.
Tim Brown, General Manager for MorWEB, comments: “Working with Rajesh and his team has been fantastic because they have a ‘best-in-class’ approach to doing business. In using MorWEB, our aim is to complement ICICI Bank Canada’s existing products and services through seamless integration. We look forward to MorWEB being part of their continued success.”
ICICI Bank Canada operates nationwide but at this time, this launch will permit mortgage applications from specific MorWEB brokers in the GTA.
For more information about MorWEB, please contact:
Tim Brown
General Manager, MorWEB
Marlborough Stirling Canada
(T) +1 416 620-2694
(E) tim.brown@mscanada.com
For more information about ICICI Bank Canada, please contact:
Ravi Balchandani
ICICI Bank Canada
(T) +1 416 847-7905
(E) ravi.balchandani@icicibank.com
About ICICI Bank Canada
ICICI Bank Canada, a wholly-owned subsidiary of ICICI Bank Limited, is a full-service direct bank with an asset base of approximately C$5.8 billion as of December 31, 2009, offering a comprehensive suite of personal, commercial and cross-border banking products and services. The bank is supported by a state-of-the-art electronic banking platform (icicibank.ca), a 24-hour toll-free customer contact centre and proprietary ABMs. It has established its branch network in Ontario (Brampton, Don Valley Parkway, Downtown Toronto, Gerrard Street East, Mississauga and Scarborough), British Columbia (Surrey), and Alberta (Calgary).
About ICICI Bank Limited
ICICI Bank Limited (NYSE:IBN) is India's largest private sector bank as measured by asset base as of December 31, 2009 and the second largest bank in the country with consolidated total assets of about US $103 billion as of December 31, 2009. ICICI Bank’s subsidiaries include India’s leading private sector insurance companies and among its largest securities brokerage firms, mutual funds and private equity firms. ICICI Bank’s presence currently spans 19 countries.
About Marlborough Stirling Canada
Marlborough Stirling Canada (MSC) is a technology services provider to the Canadian mortgage industry. MSC offers a complete range of hosted and licensed software solutions capable of achieving seamless straight through processing of mortgage business from initial customer inquiry to final loan discharge. MSC's solutions include MorWEB (origination system for brokers and lender sales forces), Omiga (underwriting, fulfillment and funding), and Optimus (mortgage servicing). Marlborough Stirling Canada is a wholly owned subsidiary of Vertex (www.vertexgroup.com).
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