Accenture Federal Services wins $328M VA contract
Arlington-based contractor to consolidate applications for Dept. of Veterans Affairs
The U.S. Department of Veterans Affairs (VA) awarded Accenture Federal Services, an Arlington-based subsidiary of Irish Fortune Global 500 company Accenture, a $328 million contract to help the department modernize applications used for the the VA home loan program.
The contract, awarded through the VA’s Office of Information and Technology and Loan Guaranty Service, will run for one base year and has three one-year options. AFS will work to consolidate VA applications that manage the end-to-end Loan Guarantee Service lifecycle into one integrated product line. This will enable the VA to be more responsive to veterans, system users and lenders, according to AFS.
“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,” Shawn Roman, the VA client account lead for AFS, said in a statement. “By providing [Loan Guaranty Service] with actionable visibility of the entire mortgage lifecycle, we are helping VA transform its veteran home loan experience.”
For the past three years, AFS has been working to modernize the VA Loan Electronic Reporting Interface-Redesign (VALERI-R) system, which manages and monitors millions of VA home loans. The system provides indicators about when a veteran may default or foreclose on their loan, which allows the VA to step in and help. AFS will continue to monitor this system as well. The work under the new contract will allow veterans to make informed decisions regarding their home loans, according to AFS.
AFS has clients within the national security, federal health, military and civilian services industries. Last year, Accenture reported more than $40 billion in revenue.