Altisource Portfolio Solutions S.A. has announced the launch of its global corporate technology Accelerator to be led by Altisource senior vice president and Altisource Labs' managing director Michael Schreck. The Accelerator formalizes Altisource's approach to commercializing internal intellectual property and technology with the eventual goal of building market-leading enterprise software and analytics businesses that benefit from Altisource's market position and help accelerate Altisource's real estate and mortgage marketplace strategy. The Accelerator program uniquely offers access to Altisource's global talent resources, industry leading customer roster and significant next-gen software market opportunities shaped by changes in the financial services industries.
The Labs will benefit from Schreck's diverse leadership experiences as a former CEO, founder and private equity investor. He most recently served as CEO of Zmags and Corrective Solutions, and previously co-founded Upromise, m-Qube and the venture capital firm General Catalyst Partners.
"The Altisource Accelerator is very unconventional," said Schreck. "It offers turn-key access to marquee customers, massive markets, proven software concepts and significant capital. What we need is top technology talent capable of harnessing these resources and accelerating the development of the next generation of successful enterprise software companies. I am excited to be part of fulfilling Altisource's ambition to grow multiple software product companies that serve very large, global markets."