East Brunswick, New Jersey, USA - January 31, 2017:
Wipro Gallagher Solutions (WGS), an end-to-end provider of lending products and services, today announced a partnership with Veri-Tax LLC, a leading national verification specialist, to streamline verification solutions. Wipro Gallagher Solutions (WGS), is a part of a Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO, a leading global information technology, consulting and business process services company.
The partnership between Wipro Gallagher Solutions, the provider of the NetOxygen Loan Origination System (LOS) and Veri-Tax LLC will help lenders mitigate identity fraud, accelerate processing, and improve the customer's experience seamlessly and electronically.
By integrating with Veri-Tax solutions, NetOxygen users can accelerate 4506T (Request for Transcript of Tax Return) turnaround time by enabling and automating secure form processing with the Internal Revenue Service (IRS). The interface also accesses and verifies a borrower's Social Security Number (SSN), mitigating fraud risk. Using Veri-Tax, NetOxygen users may also order unbiased third party Verification of Employment (VoE) at the click of a button, eliminating the need for the lender to manually contact the employer.
"We are excited to add Veri-Tax to our extensive ecosystem of industry, technology and service providers. The Veri-Tax solution complements NetOxygen by offering access to electronic sources for verifications and improves upon clients’ underwriting quality and loan processing timelines," said Alok Bansal, General Manager and Head, Wipro Gallagher Solutions.
Beyond the significant quality and productivity gains, the Veri-Tax automation tools also help in improving a borrower’s experience through a streamlined process for gathering key supporting data without manual intervention or follow-ups.
"Our verification services enhance the overall user and workflow experience in combination with the industry leading functionality of the NetOxygen LOS, providing an automated way to reduce fraud and remain compliant. This reflects our relentless desire to help our clients improve their business and make our solutions accessible to more clients," said Nick Lim, Chief Executive Officer, Veri-Tax.
"As lenders continue to adopt smart automation for enhanced customer-experience, Wipro Gallagher Solutions, is committed to providing its clients with tools that reduce processing and closing time while mitigating fraud and delivering a fast and seamless process to the user and the borrower," said Keyur Maniar, Vice President and Vertical Head - Mortgage Solutions, Wipro Limited.
About Wipro Gallagher Solutions
Wipro Gallagher Solutions (WGS), a Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) company is a provider of end-to-end technology products and services for mortgage, consumer, and commercial lenders in the United States and abroad. WGS’ technology products include its flagship NetOxygen Loan Origination Systems (LOS) and mobile lending technologies. The company also provides loan fulfillment services, lending analytics, and consulting. For more information, please visit the company's website at www.wiprogallagher.com.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology." By combining digital strategy, customer centric design, advanced analytics and product engineering approach, Wipro helps its clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has a dedicated workforce of over 170,000, serving clients across 6 continents. For more information, please visit www.wipro.com
About Veri-Tax LLC
Veri-Tax is a leading national verification specialist helping loan originators, underwriters, loan processors and other clients meet the elevated compliance and regulatory standards in the mortgage, consumer credit, alternative lending, education and other industries. Providing a suite of fast and reliable ability-to-pay solutions, including 4506-T Income Verification, Verification of Employment, SSN Verifications and Verification of Accounts. Visit www.veri-tax.com or call the Customer Happiness Team at (800) 969-5100 to learn more.
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.