New version creates superior digital experience for users and increases operational efficiency for lenders

Franklin, Tennessee, USA and Bangalore, India – May 27, 2020:

Wipro Gallagher Solutions (WGS), a Wipro Limited company and leading provider of loan origination software solutions, announced the launch of NetOxygen v7.0, the latest version of its NetOxygen loan origination solution platform. 

NetOxygen v7.0 significantly simplifies every touchpoint in the loan process, making it the most intuitive and responsive version to date. It meets new standards and regulatory compliance and features User Interface (UI) improvements that elevate both the lender and borrower experience.

With this release, WGS continues its ongoing efforts to fuel the lender of the future through intuitive technology. NetOxygen v7.0 enhances roadmap features to improve the customer experience, increase efficiencies and reduce cycle time and overall origination costs.

Key features of NetOxygen v7.0 include:  

• Enhanced user experience: Through features such as an updated dashboard, updated displays of alerts and a refreshed work item task list, this update makes loan applications more intuitive and responsive. It offers batch upload and Uniform Loan Delivery Dataset (ULDD) import, to improve efficiencies in the bulk purchase of loans.
• State-of-the-art automatic document recognition (ADR) service: This updated ADR service helps processor productivity by recognizing loan documents in a package and displaying the individual documents. It splits and indexes documents, reducing manual identification efforts.
• Increased transparency/communication between lenders and borrowers: Through NetOxygen Communication Services, lenders can use email and SMS services to draw immediate attention of the interested parties, improving active communication.
• Refresh and redesign of strategic integrations: These integrations help streamline loan  manufacturing and provide an enriched user experience.
• Updates that support Uniform Residential Loan Application (URLA) compliance: NetOxygen v7.0 is compliant with URLA guidelines, which will be required of all lenders beginning November 1, 2020. 

“Our latest release streamlines operations while enabling engagement and innovation. It was designed to improve end-to-end lending processes and deliver a truly digital mortgage experience for both lenders and borrowers.” said Alok Bansal, Vice President and Head, Wipro Gallagher Solutions. “By improving production efficiency and enabling quicker deployments, lenders can meet the needs of borrowers and pursue business growth.”

All of these new enhancements establish NetOxygen as the next level of Loan Origination Systems. To learn more about NetOxygen v7.0, click here.

An exclusive webinar will be held on June 10, 2020 at 11 a.m. CT, to showcase the key features of NetOxygen v7.0. Click here to register. 

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 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.

Wipro Media Contact:

Nisha Chandrasekaran

Wipro Limited

nisha.chandrasekaran@wipro.com

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.