Mumbai: Firstsource Solutions Limited (NSE: FSL, BSE: 532809), part of the RP-Sanjiv Goenka Group, has been recognized as a Horizon 3 Market Leader in HFS Horizons: The Best Service Providers for Mortgage Reinvention, 2025.
The Horizon 3 Market Leader positioning, the highest category in the HFS Horizons framework, underscores Firstsource’s ability to modernize the mortgage lifecycle through technology innovation, transformation-led partnerships, and ecosystem collaboration.
With support from its subsidiary Sourcepoint, the company enables multi-touchpoint borrower experiences covering origination, underwriting, closing, servicing, defaults, and product upgrades.
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HFS Research evaluated service providers globally on vision, execution, and market impact across the mortgage value chain.
Firstsource secured its recognition as a Horizon 3 Market Leader for redefining borrower experiences, deploying mortgage-specific GenAI solutions, and leveraging its proprietary UnBPO model to drive measurable client outcomes.
Leadership Insights on the Horizon 3 Market Leader Recognition
Vivek Sharma, Head – BFS, CMT, and Emerging Geos at Firstsource, stated: “Being named a Horizon 3 Market Leader by HFS validates the bold reinvention journey we’ve undertaken in mortgages. Our focus is on moving the industry away from labor-heavy models to transformation-first operations powered by domain expertise and ecosystem partnerships. What differentiates us is building mortgage-specific language models that enable faster decisions, seamless borrower journeys, and resilience for lenders—further strengthening our UnBPO™ mindset.”
Divya Iyer, Practice Director, BFSI, HFS Research, added: “The mortgage sector is navigating compliance challenges, inflation, interest rate volatility, and housing market swings. The traditional playbook of labor-intensive models is no longer viable. In 2025, growth and profitability hinge on technology-led operations. Service providers like Firstsource will play a pivotal role in driving this modernization and keeping lenders competitive.”
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Horizon 3 Market Leader: Key Findings from HFS Horizons Report
- Owning the Borrower Experience: End-to-end reinvention of the mortgage journey, from origination to servicing, defaults, and upgrades, powered by Sourcepoint and an operations-first approach.
- Mortgage-Specific GenAI Leadership: Proprietary mortgage language model trained on industry data, with relAI enabling responsible, plug-and-play GenAI deployment.
- Integrated Suite for Smaller Lenders: API-integrated proprietary assets enhancing digitization and interoperability.
- UnBPO Model: Moving away from traditional outsourcing to outcome-driven, innovation-led solutions.
- Global Delivery Network: Eight delivery centers, including an AI CoE for mortgage, serving 500+ clients, including two of the top five US banks, 12 of the top 20 mortgage lenders/servicers, and nearly 20% of the UK mortgage market.
The full report is available at Firstsource HFS Mortgage Award 2025
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