In a deal worth $146 million over seven years, non-bank mortgage lender RAMS Home Loans has outsourced its core business process, mortgage processing, to technology service provider Unisys.
Under the agreement Unisys will take control of RAMS' information technology operations and will also operate its mortgage processing services.
RAMS Group chief executive Charles Weiser said: "This was a strategic decision by RAMS. Mortgages are our core business. In fact, mortgages are our only business. Outsourcing our mortgage operations to Unisys has to enhance our competitive position, which will permit us to better serve our customers, not just reduce our costs."
RAMS Home Loans claims it has 30 per cent share of the non-bank mortgage market in Australia.