The launch of the “Lend Value” suite of enterprise loan origination solutions by Wipro Gallagher Solutions, a Wipro Technologies company and provider of lending automation for financial institutions, is designed to deliver consistency and optimization across the entire lending value chain; from back-end processing to the front-end customer experience.
The Lend Value suite includes Wipro’s flagship NetOxygen Loan Origination System, Enterprise Mobile Origination app and the LendCentric user portals, all of which interact to synchronize lending activity within a centralized data repository.
“By pairing the NetOxygen LOS with value enhancing technologies, lenders can use a single source of rules, products and pricing data to make quicker and more accurate pipeline and portfolio decisions anywhere and at any time,” the company said in a press release. “This single source of setup data can be used across all platforms reducing administrative costs and ensuring customer convergence.”
The LendCentric Launch Pad is designed to allow the borrower is kept up to date with the progress of their application throughout the loan process from application intake through supporting document upload. The LendCentric Business portal aims to enable partners and correspondent lenders to effectively communicate with lenders, speeding the loan approval process and improving loan quality through increased transparency. Finally, the Enterprise Mobile Origination app is designed to allow sales teams to produce loans from any location using their tablet device. Data received from digital, online and back-office workstations are instantly updated across all channels, according to the company.
“It increases loan officer efficiency tremendously because they get push notifications,” Narayan Bharadwaj, general manager and business head at Wipro Gallagher Solutions, told this publication in a recent interview. “So at any time they have a view of the pipeline, they have a view of the dashboard. They get real time productivity stats on their performance. The borrower is always informed about where their loan is. They do not have to make a call to find out what happened to their loan.”
“It’s all integrated,” he said, noting that the suite includes the ability to private-label brand the portal.
“We are already implementing this for a few of our customers today,” said Bharadwaj. The product has already been beta tested by select users and just this week was officially rolled out more broadly.
“Lending activity is often fragmented across multiple devices and technology products. By delivering a suite of solutions that instantly communicates with a single source of truth, lenders can achieve a holistic view of the operation, truly optimize their processes and deliver targeted products to their customers,” said Bharadwaj in the press release. “The Lend Value suite gives financial institutions the ability to transform their lending businesses by enhancing the borrower experience in the front-end using mobile and online channels, and powering back-end operational efficiencies with a strong loan origination system.”