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Franklin, Tenn.-based Wipro Gallagher Solutions (WGS), a provider of end-to-end loan origination software and services for financial organizations, announced that it has implemented EarlyCheck, a web-based interface, in its NetOxygen loan origination system (LOS) to remain in full compliance with Fannie Mae’s Loan Quality Initiative (LQI) mandates.
EarlyCheck enables users to identify and correct potential eligibility and data issues as early as possible - prior to loan delivery, which greatly lessens the number of loans that are returned from Fannie Mae on account of incorrect information. The interface can be used for loans underwritten with any method (Desktop Underwriter (DU), manual, etc.), and there is no usage fee associated with the checks as part of the initial release.
Once a user enters a loan application and submits the application to DU, the user can run the EarlyCheck interface on the loan. EarlyCheck produces a report detailing any inconsistencies between the information submitted to DU and existing information. Errors that keep a loan application from passing through Fannie Mae are marked as a fatal error for the loan application in the report. The user can correct the error before submitting the loan to Fannie Mae, thereby streamlining servicing and saving time.
Some of EarlyCheck’s features include the following:
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Less manual error resolution;
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Fewer delivery stops, resulting in less financial and operational impact;
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Reduced funding delays resulting from delivery issues;
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Enables lenders to check the EarlyCheck service at any time in the process prior to loan delivery;
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Provides real-time, loan-level results in a user-friendly report or file;
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Provides a summary of issues and a detailed message for each issue; and
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Checks things like SSN (Social Security Number), occupancy, address, LTV, monthly debt expense, loan limit and required delivery fields.
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“NetOxygen’s seamless integration with EarlyCheck enables our users to proactively identify and correct any potential hiccups that could hold up the loan delivery process,” said Narayan Bharadwaj, business head for WGS. “This greatly saves time and eliminates unnecessary frustration for lenders interested in closing more loans.”
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Franklin, Tenn.-based Wipro Gallagher Solutions (WGS), a provider of cost-effective, end-to-end loan origination technology and services for financial organizations, announced it has entered into a strategic partnership with San Francisco-based ComplianceEase, an automated compliance and risk-management provider to the financial services industry. The partnership creates a seamless integration of mortgage lending compliance audits from ComplianceEase into the WGS fully automated loan origination system (LOS), NetOxygen.
The partnership enables customers to take advantage of NetOxygen’s robust functionality for lead management and workflow management while relying on ComplianceEase’s ComplianceAnalyzer® for real-time compliance audits that immediately identify loans with potential compliance issues and allow users to review detailed analysis and explanations of failures. This partnership saves NetOxygen users time and helps them to reduce risk by enabling seamless predatory lending and license-based consumer credit compliance checks at any point in the lending process without the need to rely on manual processes that can be prone to human error.
“Our alliance with ComplianceEase gives our users the assurance of keeping up with the ever-changing federal- and state-specific regulations,” said Anil Raibagi, general manager and business head at WGS.
WGS’ strategic approach also works to increase production efficiency, applies solid governance, uses solid communication and defines metrics and service levels. WGS offers mortgage lenders a flexible and experienced staffing platform backed by hosted technology at a competitive price. Its partnership approach with its clients empowers them to focus on their core business of generating revenue while WGS manages the back-office process in a secure and quality driven platform.
“Integrating NetOxygen and ComplianceAnalyzer creates a best-of-breed product, which enhances the functionalities of both products and brings more value to our own customers,” said Jason Roth, senior vice president at ComplianceEase.
WGS’ Web-based NetOxygen system is fully automated and guides lenders through every step of the lending process. NetOxygen enables lenders to take advantage of a streamlined service to enter, monitor and maintain loans through a scalable platform hosted by WGS or set up at a location of choice. ComplianceAnalyzer provides hosted, enterprise mortgage compliance audits that run at multiple points in the mortgage process for comprehensive yet cost-effective compliance risk management.
In addition, mortgage regulators across the United States use ComplianceAnalyzer to examine the lending operations of state-regulated lenders. This partnership allows NetOxygen clients to perform the same seamless predatory lending and consumer credit compliance checks as regulators, at any point in the lending process.
About ComplianceEase®
ComplianceEase, a division of LogicEase Solutions Inc., headquartered in the San Francisco Bay Area, is a provider of intelligent business solutions to the financial services industry. ComplianceEase's significant and growing client base includes three of the top five mortgage lenders in the nation financial institutions, service providers, law firms and regulators. Managed by a team of highly experienced and innovative mortgage professionals, the company is funded by the CoreLogic Inc., the WI Harper Group, and the senior management team. For more information visit www.ComplianceEase.com
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Franklin, Tenn.-based Wipro Gallagher Solutions (WGS), a provider of cost-effective, end-to-end loan origination technology and fulfillment services for mortgage lenders, has combined its fully hosted and managed origination system, NetOxygen, with the award-winning loan processing services from Wipro into a complete end-to-end loan fulfillment and servicing platform. This new business line enables lenders to focus their efforts on generating revenue while using WGS to perform the loan fulfillment, loan sub-servicing and vendor management tasks.
WGS’ new offering was designed to be a part of a long-term strategic solution for mortgage lenders as opposed to a temporary way to cut costs. Among other benefits, the outsourcing platform:
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reduces operational costs |
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increases speed to market |
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improves customer service and the ability to quickly adjust for production peaks |
“Flexibility is the key component of the WGS solution; our customers are able to utilize WGS for complete end-to-end fulfillment or for specific functions within the loan process,” said Anil Raibagi, general manager and business head at WGS. “This new platform also provides our services on a variable pricing structure, enabling clients to gain the maximum skill sets.” Key features of the loan servicing and fulfillment platform include:
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The reduction of costs experienced is approximately 30 percent or more over the existing infrastructure. |
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The WGS operational environment is designed on a per-file basis as opposed to a fixed-cost structure; this allows lenders to reduce unused capacity to zero and the average lender’s cost per loan remains constant regardless of fluctuations in the number of loan files within a given month. |
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An immediate improvement in production efficiency is through the expanded hours of staff availability either through a staggered or an overnight staffing model. By adjusting the availability of employees both domestically and globally, loan delivery times can be drastically reduced while increasing service levels with minimal or no cost increase to a lender. |
WGS’ strategic approach also works to increase production efficiency, applies solid governance, uses solid communication and defines metrics and service levels. WGS offers mortgage lenders a flexible and experienced staffing platform backed by hosted technology at a competitive price. Its partnership approach with its clients empowers them to focus on their core business of generating revenue while WGS manages the back-office process in a secure and quality driven platform.
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Boosts compliance capabilities and offers new workflow management tools
Franklin, Tenn.-based Wipro Gallagher Solutions (WGS), a provider of cost-effective, end-to-end loan origination software and services for financial organizations, announced that it has updated its NetOxygen SaaS loan origination system (LOS) to remain in full compliance with the latest industry regulations.
The LOS has been upgraded to fully comply with the latest regulations, including HUD’s Real Estate Settlement Procedures Act (RESPA), Upfront Mortgage Insurance Premium (UFMIP) for FHA loans, Regulation Z changes for higher priced loans and the Federal Reserve Board’s Mortgage Disclosure Improvement ACT (MDIA).
In addition, WGS incorporates new ready-to-use workflow management features for retail and broker lending channels. These are in addition to workflow tools already in place to support the entire origination lifecycle. Furthermore, new interfaces to Fannie Mae’s Desktop Originator and to Interthinx’s FraudGUARD were integrated.
WGS also made updates to its loan modification application available through the NetOxygen platform, which guides lenders through every step of the Home Affordable Modification Program’s (HAMP) loan modification process including pre-qualification, initial borrower contact, eligibility, underwriting, the trial period and the official modification. The loan modification application now includes portfolio analytics, automated waterfall and NPV calculations and extensive pipeline management and workflow management.
“We developed many of NetOxygen’s new features as part of our response to lenders’ requests for an LOS that further boosts efficiencies in order to maximize profitability,” said Anil Raibagi, business head for WGS. “We constantly look to improve our functionality to simplify the loan origination process for users.”
NetOxygen incorporates a multi-tenant platform where the company’s solutions can run on a single server, serving multiple customers while keeping proprietary data separate. This offers significant cost savings to users and enables each customer to work with a customized virtual application instance while ensuring each customer’s loan data is isolated and protected from other users.
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A New Era for Loss Mitigation Automation
Franklin, Tennessee, November 12, 2009: Wipro Gallagher Solutions (WGS), a leader in enterprise Loan Origination System (LOS) technology, announced the launch of its loan modification software solution today. The loan modification software contains functionality that automates the Home Affordable Modification Program (HAMP) and also has the capability to handle other loan modification programs. By leveraging best-of-breed features and functions, WGS has created an intelligent product that guides lenders through all aspects of the loan modification process, from the initial seamless-servicing upload to investor reporting.
"Our unique combination of automated technology and process services gives lenders the tools to provide optimal solutions for every loan type while ensuring a 40-50% savings in cost and cycle times," said Sriram Srinivasan, Global Head, Banking Practice, Wipro Technologies. "Changes to HAMP products or the addition of other government or portfolio modification programs can be made quickly, maximizing the range of loan modification options for lenders," he added.
As part of the loan modification product, Wipro can perform all functions related to the loss mitigation process, including soliciting, advising borrowers, processing documents, underwriting, refinances, and closings as well as implementing changes to the servicing system. Moreover, Wipro complements the software package with business process outsourcing services that can be used to provide a host of cost reduction benefits, including faster time to market and increased capacity to respond to volume spikes. These services are realized through delivery centers in Nashville, TN as well as from centers in India. Wipro’s center in Nashville has more than 180 seats and is staffed with mortgage professionals experienced in technologies and business processes.
Another feature of this loan modification platform is a complementary self-service portal. This portal is seamlessly integrated into the loan modification system through a Web service layer and provides customers with the ability to request assistance and review the options available to them. Using this portal, banks can further enhance cost and time savings associated with loan modifications.
WGS offers this technology solution in the Software as a Service (SaaS) model and predicts that organizations will find the SaaS model, with accelerated deployments, continuous upgrades without disruption, and no upfront hardware costs, to be a compelling value proposition. Wipro Gallagher Solutions is fully owned subsidiary of Wipro and serves more than 25 customers in the Mortgage industry.
About Wipro Gallagher Solutions
Wipro Gallagher Solutions (WGS) is one of the largest residential loan origination solutions providers in the U.S. WGS lending technology and fulfillment processing solutions allow you to streamline workflows and business practices. Our NetOxygen product is a fully hosted, fully managed solution that gets you started with no upfront hardware investments and no upfront license fees. Our diverse, variable-cost fulfillment processing services allow lenders to stand out to their customers and focus on driving revenues. With decades of experience providing solutions to some of the largest organizations in the lending industry, Wipro Gallagher Solutions provides you with the right tools to maximize efficiencies and increase your competitive edge.
Wipro Gallagher Solutions, formerly Gallagher Financial Systems, was acquired by Wipro Technologies in July 2008. Please visit our website at www.gogallagher.com.
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Fully Hosted, Fully Managed Solution Provides End-to-end Loan Origination at a Fraction of the Cost
FRANKLIN, Tenn., May 4, 2009 – Wipro Gallagher Solutions, Inc. (WGS), a leader in enterprise Loan Origination System (LOS) technology, announced the release of hosted NetOxygen, a WGS world-class technology that instantly builds the customers’ LOS business.
NetOxygen is a web-based LOS that guides users through every step of the lending process, including point of sale, processing, marketing, closing, underwriting, funding, and post-closing. Built on industry-proven NetOxygen technology and based on decades of experience, NetOxygen enables lenders to take advantage of a streamlined service to enter, monitor, and maintain loans through a scalable platform hosted by WGS or set up at location of choice.
NetOxygen contains robust functionality for lead management, integrated vendor services and workflow management, all of which contribute to automating and managing the mortgage process. The NetOxygen workflow management feature employs predefined business rules to handle even the most complex lending scenarios by anticipating each step of the lending process to take the guesswork out of processing loans. The predefined workflow allows for control over user access and automates work-queuing for users. NetOxygen' biggest advantages are that it increases revenues sooner as the implementation and go-live time are reduced, recovers lost revenue as there is no need to buy hardware or design a custom network architecture, reduces operational expenditure, improves quality, shortens the training cycle, and improves performance with no hardware investments and no upfront license fees.
“NetOxygen was developed using the same secure, reliable, and available platform that has been in the implementation process for years at some of the top lenders in the country,” said Sriram Srinivasan, Global Head, of Wipro Technologies’ Banking business unit. “It can be implemented in a matter of days, ensuring a fast ROI with no upfront investment in hardware or licensing costs using a pay-as-you-go variable cost model for all customers. NetOxygen provides a platform that allows each customer to grow easily,” added Sriram. “We look forward to seeing NetOxygen shape the future of loan origination.”
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IDAHO FALLS, IDAHO, Dec. 8, 2009 – DocuTech, a provider of mortgage compliance services and documentation technology, has partnered with Wipro Gallagher Solutions (WGS), a provider of loan origination software and origination services to the lending industry, to provide complete mortgage document compliance services in WGS’s suite of loan origination systems (LOS), including NetOxygen. The integration enables lenders to easily generate compliant documents and disclosures from any Web connection
NetOxygen is a web-based LOS that enables lenders to take advantage of a streamlined service to enter, monitor and maintain loans through a scalable platform hosted by WGS. The integration with DocuTech’s ConformX allows for the streamlined deployment of an end-to end, enterprise wide LOS at a reduced cost to a traditional implementation. This integration also provides users with internal compliance and document services, including support for disclosures, enabling lenders to confidently navigate the large number of regulatory and compliance issues the industry is dealing with today. DocuTech’s compliance staff backs ConformX by monitoring and updating the program to ensure all closing document and disclosure packages are accurate and compliant.
“With new regulations from national and state legislatures hitting the streets each month, it is crucial that our lenders have immediate access to accurate documents,” said Sriram Srinivasan, global head, banking practice, Wipro Technologies. “The partnership with DocuTech provides that accuracy and guaranteed compliance while helping us deploy the updates quickly through online updates.”
NetOxygen contains robust functionality for lead management, integrated vendor services and workflow management, all of which contribute to automating and managing the mortgage process. The NetOxygen workflow management feature employs predefined business rules to handle even the most complex lending scenarios by anticipating each step of the lending process to take the guesswork out of processing loans.
ConformX securely delivers printed-paper, e-mail and Web-posting document options from any Internet location around the world. Lenders can also customize business process rules to meet state and federal requirements, enhance security, require high-cost loan checks and ensure that only the needed documents are printed.
“Mid-sized lenders are seeing the advantages that hosted software provides – faster speed, more security and lower cost,” said Ty Jenkins, CEO for DocuTech. “ConformX makes any computer or laptop a closing table by delivering compliant disclosures and documents through a secure Web connection.”
About DocuTech Corp
Since 1991, Idaho Falls, Idaho-based DocuTech Corp. (DocuTech) has provided outstanding compliance services and documentation technology for the mortgage industry. The company specializes in closing documents, initial disclosure documents, borrower doc delivery and integrated compliance checks. DocuTech manages and secures all information needed for a loan, guaranteeing accuracy, security and compliance. For more information visit the company's Web site at www.docutechcorp.com. |
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Companies integrate NetOxygen and ConformX
Franklin, Tennessee: DocuTech and Wipro Gallagher Solutions, formerly Gallagher Financial Systems, announced at the Mortgage Banker’s Association National Technology in Mortgage Banking Conference & Expo that the companies have signed a contract that will integrate DocuTech’s Web-based document solution, ConformXTM, with WGS' NetOxygen loan origination software (LOS).
WGS is one of the nation's largest residential LOS providers. Its NetOxygen system allows lenders to work with a rules-based, service-oriented platform that provides automated calculations and auditing capabilities throughout the life of the loan. Since ConformX and NetOxygen are fully Web-enabled, users will be able to access loan data and documents from any computer with an Internet connection, enabling lenders to work with traditional paper mortgages, paperless mortgages and e-signed mortgages. ConformX is also compatible with Category 1 SMART Documents and eSigned PDF documents.
"NetOxygen’s lenders are leading the pack in embracing Web-based and electronic mortgage technology," said WGS president Chris Anderson. "Our alliance with DocuTech will give our customers the ability to streamline the compliance process and quickly generate all the documents they need—from RESPA disclosures to closing documents—through their Web browser. ConformX also supports eMortgages, allowing our lenders to reduce overhead by reducing the amount of paper that has to be printed, filed, transported and stored."
The combined services will provide NetOxygen customers with document services that reduce loan-processing time by automatically generating compliant state and federal documents. In addition to closing documents, lenders will also have access to initial disclosures and processing documents. DocuTech’s ConformX will also enable NetOxygen customers to transfer data from mortgage documents into electronic forms for reporting and filing.
ConformX is backed by DocuTech’s document compliance staff, which guarantees that all mortgage document packages are accurate and complete. By reducing the need for compliance staff to research document requirements, lenders are given the flexibility to quickly offer new products and keep up with rapidly changing state and federal compliance requirements.
"DocuTech is more than just technology for paper loan documents," said Monte Larsen, DocuTech’s chief marketing officer. "ConformX gives NetOxygen users the benefit of our fully-staffed compliance department and a streamlined interface that works completely within the LOS."
About Wipro Gallagher Solutions
Wipro Gallagher Solutions (WGS) is one of the largest residential loan origination solutions providers in the U.S. WGS lending technology and fulfillment processing solutions allow you to streamline workflows and business practices. Our NetOxygen product is a fully hosted, fully managed solution that gets you started with no upfront hardware investments and no upfront license fees. Our diverse, variable-cost fulfillment processing services allow lenders to stand out to their customers and focus on driving revenues. With decades of experience providing solutions to some of the largest organizations in the lending industry, Wipro Gallagher Solutions provides you with the right tools to maximize efficiencies and increase your competitive edge.
Wipro Gallagher Solutions, formerly Gallagher Financial Systems, was acquired by Wipro Technologies in July 2008. Please visit our website at www.gogallagher.com.
About Wipro
Wipro Technologies, a division of Wipro Limited (NYSE:WIT) is the first PCMM Level 5 and SEI CMM Level 5 certified global IT services organization. Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across offshore and onsite development centers. Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application management, and datacenter managed services to corporations globally.
In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India, offering system integration, network integration, software solutions and IT services.
Wipro also has a profitable presence in niche market segments of consumer products and lighting. In the Asia-Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS' are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange. For more information, please visit our websites at www.wipro.com and www.wiprocorporate.com.
Media Contacts:
Wipro Technologies
India:
Radhika Mahadevan
Wipro Technologies
+91- 9945042603
radhika.mahadevan@wipro.com
Mangala Koti Singhal
Gutenberg Communications
+91 9686446789
mangala@gutenbergpr.com
US
Anil Raibagi
Business Head, Wipro Gallagher Solutions
+1(615).221.7380 or +1(615).686.1361
anil.raibagi@wipro.com
Eric Belove
Wipro Technologies
+ 1 (732).216.6242
eric.belove@wipro.com
Lavanya DJ
Gutenberg Communications
+ (212).239.8740
lavanya@gutenbergpr.com
UK
Rahul Kadavakolu
Wipro Technologies
+44 792 020 5496
rahul.kadavakolu@wipro.com
Shalini Siromani
Gutenberg Communications
+44.79.6066.3200
shalini@gutenbergpr.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. |
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Content management integration with LOS provides increased
Cleveland and Franklin, Tennessee: Hyland Software Inc., developer of the OnBase enterprise content management (ECM) software suite, announced that it has formed a strategic alliance with Gallagher Financial Systems Inc. (GFS), a leader in enterprise loan origination system technology. As part of the alliance, Hyland will integrate OnBase with GFS’s NetOxygen loan origination system (LOS) to provide additional document management options to GFS’s new and existing customers.
Through this integration, NetOxygen users will be able to scan and index loan documents, access those documents from the OnBase repository through NetOxygen, and automatically route documents for review and approval based on internal business rules. As a result, GFS’ customers will be able to streamline underwriting, improve post-close and audit review processes and speed delivery of loans to the secondary market, ultimately improving loan profitability.
"Manual, paper-based loan processing is the largest remaining source of excessive cost in mortgage loan origination," said Craig Focardi, research area director for consumer lending at TowerGroup. "By integrating document imaging and content management systems with loan origination systems, lenders can synchronize loan document processing with LOS-based data processing to reduce cost and time while improving customer satisfaction."
In 2006, the editors of Mortgage Technology recognized both GFS and Hyland as Top 25 Technology Vendors. GFS has a significant NetOxygen user base among the top 100 mortgage lenders in the United States, while Hyland markets OnBase to financial institutions of all sizes throughout North America, Latin America, Europe and Japan, with a current customer base of more than 6,000 and rising.
"Both Gallagher and Hyland are significant technology players in the mortgage space," said Chris Anderson, president at GFS. "Many of our customers have already integrated NetOxygen with their previously established imaging solution. However, for lenders who don’t have an existing imaging solution that fits their needs, OnBase would be the perfect fit with NetOxygen. Through this alliance, both companies will be able to further their position within the marketplace by addressing this need with a joint offering and provide their customers with expanded and enhanced product capabilities."
OnBase is an ECM software suite with applications that include document imaging, workflow, electronic document management, COLD/ERM and records management. OnBase allows financial institutions to manage all digital content, including scanned paper documents, e-mails, faxes, print streams, application files, e-forms, Web content and multimedia files.
"Enterprise content management solutions are vital to streamlining and automating document-centric lending processes," said Jason King, director of financial services for Hyland Software. "Through this integration with OnBase, NetOxygen customers will be able to better manage their loan pipelines, increase customer service levels and improve process efficiency."
About Wipro Gallagher Solutions
Wipro Gallagher Solutions (WGS) is one of the largest residential loan origination solutions providers in the U.S. WGS lending technology and fulfillment processing solutions allow you to streamline workflows and business practices. Our NetOxygen product is a fully hosted, fully managed solution that gets you started with no upfront hardware investments and no upfront license fees. Our diverse, variable-cost fulfillment processing services allow lenders to stand out to their customers and focus on driving revenues. With decades of experience providing solutions to some of the largest organizations in the lending industry, Wipro Gallagher Solutions provides you with the right tools to maximize efficiencies and increase your competitive edge.
Wipro Gallagher Solutions, formerly Gallagher Financial Systems, was acquired by Wipro Technologies in July 2008. Please visit our website at www.gogallagher.com.
About Hyland Software Inc.
Established in 1991, Hyland Software Inc. is the developer of OnBase, a rapidly deployable suite of enterprise content management (ECM) software applications. OnBase is a modular suite of ECM applications that includes document imaging, workflow, electronic document management, COLD/ERM and records management. OnBase allows organizations to manage all digital content, including scanned paper documents, e-mails, faxes, print streams, application files, e-forms, Web content and multi-media files. OnBase is used by businesses and government agencies around the world to reduce the time and cost of performing important business functions and address the need for regulatory compliance through the management, control and sharing of digital content with employees, business partners, customers and other constituencies. For more information about OnBase, please contact an Authorized OnBase Solution Provider or visit www.onbase.com.
About Wipro
Wipro Technologies, a division of Wipro Limited (NYSE:WIT) is the first PCMM Level 5 and SEI CMM Level 5 certified global IT services organization. Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across offshore and onsite development centers. Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application management, and datacenter managed services to corporations globally.
In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India, offering system integration, network integration, software solutions and IT services.
Wipro also has a profitable presence in niche market segments of consumer products and lighting. In the Asia-Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS' are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange. For more information, please visit our websites at www.wipro.com and www.wiprocorporate.com.
Media Contacts:
Wipro Technologies
India:
Radhika Mahadevan
Wipro Technologies
+91- 9945042603
radhika.mahadevan@wipro.com
Mangala Koti Singhal
Gutenberg Communications
+91 9686446789
mangala@gutenbergpr.com
US
Anil Raibagi
Business Head, Wipro Gallagher Solutions
+1(615).221.7380 or +1(615).686.1361
anil.raibagi@wipro.com
Eric Belove
Wipro Technologies
+ 1 (732).216.6242
eric.belove@wipro.com
Lavanya DJ
Gutenberg Communications
+ (212).239.8740
lavanya@gutenbergpr.com
UK
Rahul Kadavakolu
Wipro Technologies
+44 792 020 5496
rahul.kadavakolu@wipro.com
Shalini Siromani
Gutenberg Communications
+44.79.6066.3200
shalini@gutenbergpr.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. |
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NetOxygen to integrate next generation of .NET
Franklin, Tennessee: Wipro Gallagher Solutions, formerly Gallagher Financial Systems, a leader in enterprise loan origination technology, announced that testing and integration of Silverlight™ with its flagship product, NetOxygen, has begun. Silverlight™ is Microsoft’s® new cross-platform Web browser plug-in that allows solutions providers to deliver rich, interactive, .NET-based media applications over the Web.
Available as a small, easy-to-install browser plug-in for end users, Silverlight™ transforms Web applications into animated, interactive user interfaces that are much more vivid than Web applications of the past. Moreover, many of Silverlight’s™ media features can be delivered and employed on the end-user’s browser faster and more efficiently than in the past, including animations, and streaming audio and video.
By integrating Silverlight™, NetOxygen’s user interface will be able to be deployed on any browser that has the new plug-in. “Increasing the browser compatibility of NetOxygen has long been a goal of Gallagher’s,” said Chad Henke, Chief Architect for WGS. “Silverlight™ offers the right set of tools, allowing us to efficiently deliver browser independence to our customers.” Henke also notes that because Silverlight™ development is based on the .NET framework, Gallagher already has the knowledge and skill set necessary to quickly deploy updated applications and new functionality.
About Wipro Gallagher Solutions
Wipro Gallagher Solutions (WGS) is one of the largest residential loan origination solutions providers in the U.S. WGS lending technology and fulfillment processing solutions allow you to streamline workflows and business practices. Our NetOxygen product is a fully hosted, fully managed solution that gets you started with no upfront hardware investments and no upfront license fees. Our diverse, variable-cost fulfillment processing services allow lenders to stand out to their customers and focus on driving revenues. With decades of experience providing solutions to some of the largest organizations in the lending industry, Wipro Gallagher Solutions provides you with the right tools to maximize efficiencies and increase your competitive edge.
Wipro Gallagher Solutions, formerly Gallagher Financial Systems, was acquired by Wipro Technologies in July 2008. Please visit our website at www.gogallagher.com.
About Wipro
Wipro Technologies, a division of Wipro Limited (NYSE:WIT) is the first PCMM Level 5 and SEI CMM Level 5 certified global IT services organization. Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across offshore and onsite development centers. Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application management, and datacenter managed services to corporations globally.
In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India, offering system integration, network integration, software solutions and IT services.
Wipro also has a profitable presence in niche market segments of consumer products and lighting. In the Asia-Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS' are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange. For more information, please visit our websites at www.wipro.com and www.wiprocorporate.com.
Media Contacts:
Wipro Technologies
India:
Radhika Mahadevan
Wipro Technologies
+91- 9945042603
radhika.mahadevan@wipro.com
Mangala Koti Singhal
Gutenberg Communications
+91 9686446789
mangala@gutenbergpr.com
US
Anil Raibagi
Business Head, Wipro Gallagher Solutions
+1(615).221.7380 or +1(615).686.1361
anil.raibagi@wipro.com
Eric Belove
Wipro Technologies
+ 1 (732).216.6242
eric.belove@wipro.com
Lavanya DJ
Gutenberg Communications
+ (212).239.8740
lavanya@gutenbergpr.com
UK
Rahul Kadavakolu
Wipro Technologies
+44 792 020 5496
rahul.kadavakolu@wipro.com
Shalini Siromani
Gutenberg Communications
+44.79.6066.3200
shalini@gutenbergpr.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. |
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GFS now named Wipro Gallagher Solutions
Franklin, Tennessee: We are pleased to announce that Wipro Technologies, the global IT services business of Wipro Limited (NYSE:WIT), has completed an acquisition of Gallagher Financial Systems (GFS), Inc as of July 2nd 2008. The combined entity is now called Wipro Gallagher Solutions.
Wipro delivers a broad range of solutions, including application development and maintenance, infrastructure management, e-enabling services, business process outsourcing, and consulting services, to clients in a broad range of verticals, including Finance Solutions and other enterprise markets like Retail, Manufacturing, Healthcare, Transportation, Telecom, etc.
GFS Inc. is a leading provider of loan origination and processing systems through the NetOxygen product, which provides a true thin-client web-enabled solution, with support for multiple products and channels and flexibility to address varying client requirements. GFS is a proven solution, with successful implementations at several large and mid-tier banks in the US and has the inherent capability to be adapted for different loan products, like mortgages, HELOCs, auto loans, student loans, installment loans, etc.
The combination of the two companies will enable a value proposition that includes integrated delivery of technology and services for loan origination. Initially, Wipro will be able to offer an end-to-end mortgage loan origination solution utilizing best-in-class NetOxygen technology and optimized business processes. Our clients will progressively realize benefits from a single source provider that can leverage the global delivery model, data center expertise, and application and infrastructure management, thereby optimizing their overall investment in loan origination and processing.
About Wipro Gallagher Solutions
Wipro Gallagher Solutions (WGS) is one of the largest residential loan origination solutions providers in the U.S. WGS lending technology and fulfillment processing solutions allow you to streamline workflows and business practices. Our NetOxygen product is a fully hosted, fully managed solution that gets you started with no upfront hardware investments and no upfront license fees. Our diverse, variable-cost fulfillment processing services allow lenders to stand out to their customers and focus on driving revenues. With decades of experience providing solutions to some of the largest organizations in the lending industry, Wipro Gallagher Solutions provides you with the right tools to maximize efficiencies and increase your competitive edge.
Wipro Gallagher Solutions, formerly Gallagher Financial Systems, was acquired by Wipro Technologies in July 2008. Please visit our website at www.gogallagher.com.
About Wipro
Wipro Technologies, a division of Wipro Limited (NYSE:WIT) is the first PCMM Level 5 and SEI CMM Level 5 certified global IT services organization. Wipro Technologies was recently assessed at Level 5 for CMMI V 1.2 across offshore and onsite development centers. Wipro is one of the largest product engineering and support service providers worldwide. Wipro provides comprehensive research and development services, IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application management, and datacenter managed services to corporations globally.
In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate segment in India, offering system integration, network integration, software solutions and IT services.
Wipro also has a profitable presence in niche market segments of consumer products and lighting. In the Asia-Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro's ADS' are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange. For more information, please visit our websites at www.wipro.com and www.wiprocorporate.com.
Media Contacts:
Wipro Technologies
India:
Radhika Mahadevan
Wipro Technologies
+91- 9945042603
radhika.mahadevan@wipro.com
Mangala Koti Singhal
Gutenberg Communications
+91 9686446789
mangala@gutenbergpr.com
US
Anil Raibagi
Business Head, Wipro Gallagher Solutions
+1(615).221.7380 or +1(615).686.1361
anil.raibagi@wipro.com
Eric Belove
Wipro Technologies
+ 1 (732).216.6242
eric.belove@wipro.com
Lavanya DJ
Gutenberg Communications
+ (212).239.8740
lavanya@gutenbergpr.com
UK
Rahul Kadavakolu
Wipro Technologies
+44 792 020 5496
rahul.kadavakolu@wipro.com
Shalini Siromani
Gutenberg Communications
+44.79.6066.3200
shalini@gutenbergpr.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. |
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