Wipro Gallagher Solutions Releases Latest Version of its Loan Origination System (LOS), NetOxygen
NetOxygen v5.0 places more power in the hands of NetOxygen users
FRANKLIN, Tenn. - July 31, 2017: Wipro Gallagher Solutions (WGS), a Wipro Limited company, today announced the release of the latest version of its Loan Origination System (LOS), NetOxygen v5.0. NetOxygen v5.0 provides users such as loan officers, processors and administrators with more simplified innovation and configuration tools to meet lenders’ evolving needs and support next-gen lender transformation.
In the first of a series of significant advancements designed to simplify innovation, NetOxygen v5.0 streamlines access to its Application Programming Interfaces (APIs) through the development of a Loan Gateway Service. The Loan Gateway Service enables direct data sharing between third-party partners and NetOxygen, accelerating the development and deployment of future-ready lending models.
NetOxygen v5.0 also accelerates and simplifies configuration through a suite of easy-to-use self-service tools available to business users. The business tools enable lenders to address necessary and urgent business changes such as fee schemes, conditions, products, and user maintenance without intervention from the IT team.
“The NetOxygen Loan Origination System has always offered innovation through unmatched flexibility and configurability, and we consider this flexibility to be of even greater importance to lenders in today’s highly competitive market”, said Scott Dunn, Head of Product Management and Compliance, Wipro Gallagher Solutions, Wipro Limited. He added, “Only now, NetOxygen offers the same level of innovation with greater simplification to minimize complexity, speed up the deployment of new features, and fuel future growth.”
Additional advancements to NetOxygen include greater configurability to the Rate Exception Screen, which supports a data-driven secondary marketing strategy by allowing for more granular exceptions based on key loan performance indicators such as loan quality, sale-ability, customer loyalty, and campaigns.
NetOxygen v5.0 also enhances workflow logic to improve transparency around performance and increase efficiencies within a lending operation. Clients can now use custom and granular workflow filters within NetOxygen to create more sophisticated business processes and assign work to the right business user or group based on specialization. The same logic enhances the NetOxygen Compensation Manager giving lenders the ability to track compensation based on specific loan characteristics and parameters. The enhancements have the potential to significantly improve accuracy, employee experience, and productivity within a lending operation.
NetOxygen v5.0 also incorporates hundreds of features and functions that cover standard and mandatory business and industry requirements such as Uniform Closing Disclosures (UCDs), expanded browser compatibility and additional enhancements for construction, wholesale, correspondent and consumer lending, and updates to reflect changes to Desktop Underwriter® (DU) and Loan Product Advisor (LPA).
“At a moment when lenders need to innovate and embrace digital integrations to remain competitive, Wipro Gallagher Solutions is excited to release NetOxygen V5.0 equipped with robust foundational capabilities that will drive simplified innovation,” said Alok Bansal, Vice President and Business Head, Wipro Gallagher Solutions, Wipro Limited.
About Wipro Gallagher Solutions
Wipro Gallagher Solutions is fueling the future lender. We provide retail, wholesale, correspondent, and consumer lenders with a powerful origination platform that drives profitable lending anytime, anywhere. Moving beyond a system of record to a system of opportunity, the NetOxygen platform elevates the borrower experience with front-to-back workflow, compliance automation, and paperless processing while leaving room for innovation through configurable workflow, third party integrations, and web services/APIs. Wipro Gallagher Solutions is a Wipro Limited company. For more information about Wipro Gallagher Solutions, visit www.wiprogallagher.com
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 160,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.