Bangalore, India and Oklahoma City, USA - September 14, 2018:
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company and Mercury Network, now a part of CoreLogic, today announced an agreement to jointly offer appraisal management platform systems to customers in the financial services space. These include banks, mortgage/lending companies, credit unions, underwriting and appraisal management companies. As part of the agreement, Mercury Network, one of the industry’s largest appraisal order management platforms, will be integrated with Wipro’s NetOxygen Loan Origination System (LOS) platform.
Leveraging Mercury Network’s powerful valuation management software and platform, Wipro’s NetOxygen LOS customers will now be able to better manage their loan appraisals. They will also be able to automatically order the appraisal and receive regular status updates on the order, inside their loan folder. This platform eliminates duplicate data entry, and dramatically accelerates the appraisal process while reducing administrative burdens.
As a result of the integrated offering, residential and commercial appraisals can be managed and ordered from over 300 integrated appraisal management companies and over 35,000 independent appraisers in the United States.
“Our goal is to enhance lender efficiency, with increased agility, productivity and accuracy,” said Scott Dunn, Head of Product Management and Compliance, Wipro Gallagher Solutions. “Mercury Network is a leading platform with innovative tools that will save our customers’ time on every loan.”
Prior to this integration, many NetOxygen customers were managing appraisals from Mercury Network’s web interface, without automatic data integration. The integration will automatically synchronize important appraisal order data, enhancing the accuracy of data and reducing manual effort and the risks of human error by the lender’s operations team.
“The most efficient appraisal process for lenders includes a fully integrated loan file. So, we’re proud to work with NetOxygen to provide easier and faster appraisal management solutions to their broad customer base,” said Devi Mateti, Executive, CoreLogic Valuation Technologies.
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.
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.
About Mercury Network
Mercury Network, now a part of CoreLogic, serves nearly 1,000 lenders and AMCs with six core valuation technology solutions, including two leading appraisal management platforms, as well as add-on modules for commercial appraisal, appraisal quality control, alternative valuations, and additional closing services such as flood certificates and income verification. For more information about the company, visit www.mercuryvmp.com.
For more information contact:
Wipro Limited
Shraboni Banerjee
CoreLogic | Mercury Network
Danielle Cox, Sr. Professional, Marketing
405.300.1461
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.
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