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Wipro Gallagher Solutions has announced the release of the latest version of its Loan Origination System (LOS), NetOxygen v5.0, providing loan officers, processors and administrators with more simplified innovation and configuration tools to meet lenders’ evolving needs and support next-gen lender transformation.
NetOxygen v5.0 streamlines access to its Application Programming Interfaces (APIs) through the development of a Loan Gateway Service. The Loan Gateway Service enables direct data sharing between third-party partners and NetOxygen, accelerating the development and deployment of future-ready lending models.
NetOxygen v5.0 also accelerates and simplifies configuration through a suite of easy-to-use self-service tools available to business users. The business tools enable lenders to address necessary and urgent business changes such as fee schemes, conditions, products and user maintenance without intervention from the IT team.
“The NetOxygen Loan Origination System has always offered innovation through unmatched flexibility and configurability, and we consider this flexibility to be of even greater importance to lenders in today’s highly competitive market,” said Scott Dunn, Head of Product Management and Compliance, Wipro Gallagher Solutions, Wipro Limited. “Only now, NetOxygen offers the same level of innovation with greater simplification to minimize complexity, speed up the deployment of new features, and fuel future growth.”
NetOxygen v5.0 also enhances workflow logic to improve transparency around performance and increase efficiencies within a lending operation. Clients can now use custom and granular workflow filters within NetOxygen to create more sophisticated business processes and assign work to the right business user or group based on specialization. The same logic enhances the NetOxygen Compensation Manager giving lenders the ability to track compensation based on specific loan characteristics and parameters.
NetOxygen v5.0 also incorporates hundreds of features and functions that cover standard and mandatory business and industry requirements such as Uniform Closing Disclosures (UCDs), expanded browser compatibility and additional enhancements for construction, wholesale, correspondent and consumer lending, and updates to reflect changes to Desktop Underwriter® (DU) and Loan Product Advisor (LPA).
“At a moment when lenders need to innovate and embrace digital integrations to remain competitive, Wipro Gallagher Solutions is excited to release NetOxygen V5.0 equipped with robust foundational capabilities that will drive simplified innovation,” said Alok Bansal, Vice President and Business Head, Wipro Gallagher Solutions, Wipro Limited.
