Wipro Gallagher Solutions (WGS), a Wipro Technologies company and provider of end-to-end lending solutions for financial institutions, has announced the release of NetOxygenZip, a preconfigured version of its NetOxygen loan origination system (LOS) that simplifies lending and speeds time to market. NetOxygenZip allows lenders of all sizes to gain access to a more scalable, robust system using a fraction of the time, money and resources traditionally required. The system not only allows lenders to originate loans immediately after installation, but its inherent flexibility and intuitive user interface enables lenders to easily refine components later, based on unique business needs.
“Many lenders are looking for a more powerful and compliant LOS but are reluctant to switch systems in fear of a sluggish deployment. Lenders need not compromise any more between a solution that is both robust and can be implemented rapidly,” said Narayan Bharadwaj, business head and general manager at Wipro Gallagher Solutions. “With NetOxygenZip, lenders get a flexible LOS that deploys quickly and simplifies lending.”
The system comes equipped with features and functions central to most lending operations including data, tools, reports, service provider integrations, documents and integrated imaging functionality. The system’s workflow is pre-configured based on industry best practices and its built-in products, pricing, fees, adjustments and conditions for the most common loan products enables users to easily update and maintain system functionality without IT intervention.
The system seamlessly integrates with reputable external service providers to ensure single system access to critical borrower, property and loan data. Its full document imaging capabilities support paperless lending, which reduces processing inefficiencies through auto-indexing and document classification. It also improves internal communication with loan annotation capabilities.