Franklin, Tennessee, USA and Bangalore, India – October 25, 2019:
Wipro Gallagher Solutions (WGS), a Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) company and a leading provider of loan origination software solutions, today announced the launch of NetOxygen 6.2, the latest version of its NetOxygen loan origination solution platform, designed to meet lending challenges and borrower needs of the future.
NetOxygen 6.2, will significantly boost operational efficiency for lenders, incorporate strategic integrations, meet new standards and regulatory compliance, and provide a better User Interface (UI) that will further improve borrower experience.
The following are the key features of NetOxygen 6.2:
- Better Operational Efficiency:
- Loan document management functionality that groups and sorts documents logically and indicates the ones used for decision-making—adding to the lenders capability to process loans with greater accuracy
- An enhanced MyTask Plugin that provides loan counts and color-coded visual indicators for tasks by SLA that directly improve lender efficiency
- A workflow reassignment feature that alerts users to new tasks they can work on and reassign themselves as the loan contact, improving lender productivity
- A workflow archiving feature that significantly reduces the number of records in the workflow database allowing dashboards, loan selector and inbox queries to respond faster
- Enhancements to the prequalification and preapproval feature to optimize the workflow and improve operational efficiency
- Strategic Integrations:
- NetOxygen 6.2 will also feature a new integration with middleware providers. This will allow lenders to seamlessly select from a wider array of interface vendors with easier implantation and additional national coverage
- NetOxygen 6.2 is integrated with Capsilon’s document imaging solution, Capsilon IQ platform for enhanced imaging and data capture capability that lenders can use, to complete transactions faster and reduce origination expenses
- Standards and Regulatory Compliance:
- Application screens to meet the requirements of Uniform Residential Loan Application (URLA), improving compliance and simplifying user experience
- A Mortgage Industry Standards Maintenance Organization (MISMO®) v3.4-aligned capability that lets users import or export a loan without losing the loan details mentioned in the Uniform Loan Application Dataset (ULAD)
These enhancements are in addition to a UI refresh and a host of other powerful features that expand the product’s coverage. With this release, Wipro Gallagher Solutions becomes the only provider to offer functionality across multiple asset classes (non-real estate, residential, commercial, wholesale, and equity loans).
“At the core of these enhancements is our deep understanding of automation technology. We have consciously leveraged automation to improve operational efficiency for lenders,” said Alok Bansal, Vice President and Head, Wipro Gallagher Solutions. “NetOxygen 6.2 is a demonstration of our understanding of the lending needs of the future and it uses technological innovation to keep our financial services customers at the forefront of the lending space.”
About Wipro Gallagher Solutions
Wipro Gallagher Solutions is a Wipro Limited company, focused on fueling the future lender since 1985. Wipro Gallagher Solutions’ digital lending platform NetOxygen helps lenders close more loans at lower costs, with its highly automated, workflow-driven, POS to closing solution, delivering superior borrower and colleague experience. Wipro Gallagher Solutions makes lending simpler, safer, and more profitable to lenders across retail, consumer, wholesale, and correspondent channels. For more information, please visit www.wipro.com/gallagher
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 175,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
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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.