Accenture Federal Services Wins $328 Million Contract to Help VA Modernize and Improve the Veteran Home Loan Experience
Accenture (News - Alert) Federal Services (AFS), a subsidiary of Accenture (NYSE: ACN), has been awarded a contract to support operations, security, and modernization of the technology applications of the U.S. Department of Veterans Affairs (VA) Loan Guaranty Service (LGY) and to transform the VA home loan program for veterans by building more tailored solutions to enable better outcomes. The contract is valued at up to $328 million and runs for one base year, with three one-year options.
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Shawn Roman, the VA client account lead for Accenture Federal Services (Photo: Business Wire)
Awarded by VA's Office of Information and Technology (OIT) and LGY, the development, security, operations (DevSecOps) contract consolidates VA applications that manage the end-to-end LGY lifecycle. Maintaining operations, security and modernization of all LGY systems into an integrated LGY Product Line will provide greater visibility across the program and throughout the value chain. This transformation is designed to enable the VA to be more responsive to veterans, system users, and lenders, while capitalizing on mortgage industry shifts in data collection.
Since 2017, AFS has been working on the modrnization of the VA Loan Electronic Reporting Interface-Redesign (VALERI-R) system, which manages and monitors millions of VA home loans. VALERI-R provides analytics-based indicators about when a veteran may default or foreclose on their loan, enabling the VA and its servicing community to perform loss mitigation strategies to keep veterans in their homes. AFS will continue maintaining and enhancing the VALERI-R platform for the present, ensuring the VA's ability to make data-driven decisions quickly.
The work under the new contract will provide transparency and data insights to help veterans make informed, low-risk decisions regarding their home loans. AFS 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.
"We are collaborating with the VA and helping them to discover bold new solutions that serve veterans better than the commercial market by innovating and building an ecosystem that improves the veteran's experience," said Shawn Roman, the VA client account lead for AFS. "By providing LGY with actionable visibility of the entire mortgage lifecycle, we are helping VA transform its veteran home loan experience."
About Accenture Federal Services
Accenture Federal Services, a wholly owned subsidiary of Accenture LLP, is a U.S. company with offices in Arlington, Virginia. Accenture's federal business has served every cabinet-level department and 30 of the largest federal organizations. Accenture Federal Services transforms bold ideas into breakthrough outcomes for clients at defense, intelligence, public safety, civilian and military health organizations. Learn more at www.accenturefederal.com.
Accenture is a leading global professional services company, providing a broad range of services in strategy and consulting, interactive, technology and operations, with digital capabilities across all of these services. We combine unmatched experience and specialized capabilities across more than 40 industries - powered by the world's largest network of Advanced Technology and Intelligent Operations centers. With 513,000 people serving clients in more than 120 countries, Accenture brings continuous innovation to help clients improve their performance and create lasting value across their enterprises. Visit us at www.accenture.com
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