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 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
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