Accenture secures $328M VA loan modernization contract
- By Nick Wakeman
- Jul 29, 2020
Accenture Federal Services has won a $328 million Veterans Affairs Department contract to modernize applications supporting that agency's Loan Guaranty Service.
The contract also will support VA’s home loan program for veterans via tailored technology solutions.
The contract also consolidates VA applications that manage the end-to-end loan lifecycle. Accenture will pull in maintenance of operations, security and modernization into an integrated product line. The VA wants greater visibility across the program, the company said.
If successful, the contract will help VA be more responsive to veterans, system users and lenders, as well as capitalize on mortgage industry shifts in data collection.
Accenture has supported modernization of the VA Loan Electronic Reporting Interface-Redesign since 2017. The work under the new contract will provide transparency and data insights to help veterans make informed, low-risk decisions regarding their home loans.
The company will incorporate human-centered design, leverage Mortgage Industry Standards Maintenance Organization datasets and bring enhanced partner integrations to the LGY product line of applications that automate the delivery of benefits to veterans. The end goal is to improve the customer and end-user experience.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.