ISGN, Bensalem, Pa., last month at its client conference highlighted the accessibility of its Catapult origination system via smartphones and tablet devices at its client conference in Atlanta.
The company stressed the system's mobile functionality and noted it is available as either a cloud-based technology or as a licensed system. It said both options lower operational costs.
Any browser-enabled device with an Internet connection is “able to access the full functionality of the system, not just a limited set of functionality, not just a portion of this system, but everything from, 'Hi, how are you doing? I'm a loan officer,' through 'OK, we just received this closed loan in the door' or 'we need to ship it to the investor,'” Greg Ellis, senior business consultant, Catapult, said in a phone interview from a user conference last month.
Ellis noted that during the user conference he was able to demonstrate how, if one's main computer connection went down, the system could alternately be accessed from a smart phone, for example.
“In addition to the basic browser interface coming into the system, we also have worked with developing dashboard-style reporting optimized for the mobile devices,” Ellis said, explaining the technology's features. This provides “some graphical-style management reporting for the business so, as the business manager is on-the-go or out of the office they always have live access to dashboard-style reporting capable via the Catapult system,” he said.
Ellis said the graphs and charts the dashboard displays helps business managers drill “through the data.”
The graphics “are designed to draw your attention visually to critical business issues that you might not have noticed if you were just glancing through a normal report,” he said. The “visual digesting of data is much quicker than [looking at] an entire report,” Ellis said.
“There are others in this particular space that have a pure browser play, but most of the Web-based applications have some sort of fat client and where we feel like we're really going to differentiate ourselves is the functionality that we deliver via the browser and as well as the dashboard,” Ellis said.
In other ISGN news, the company said it had secured $30 million in new funding from its current group of global investors: New Enterprise Associates, IndoUS Venture Partners and KK Birla company CFCL Overseas Ltd.
The company said a portion of the funding would be used to ensure compliance with new guidelines and regulations, including new regs related to the Dodd-Frank Act and interagency appraisal and valuation guidelines.
It said among its new services are an appraiser-assisted automated valuation model cascade, an AVM with property condition reports, managed valuation products, and appraiser parity that supports the so-called customary and reasonable fee requirement.
In addition to funding compliance needs, the development of new products and further mortgage processing services expansion, ISGN said it would be using its additional funds to pay off outstanding debts related to its acquisition of Fiserv's fulfillment services business more than a year ago.
