Franklin, Tennessee, USA and Bangalore, India – July 21, 2020: Wipro Gallagher Solutions (WGS), a Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) company and a leading provider of loan origination software solutions, today announced its partnership with EXOS Technologies, a division of ServiceLink. EXOS’ cutting-edge platform provides tech-enabled mortgage services throughout the lending life cycle. By combining EXOS with WGS’ NetOxygen Launchpad and NetOxygen LOS systems, lenders will experience the first-ever fully integrated, end-to-end digital mortgage solution.
The addition of EXOS into Wipro Gallagher Solutions will result in increased transparency and quicker turnaround times. Through consumer-driven touchpoints, users will be able to digitally schedule their appraisal and signing appointments for the exact date and time that is convenient for them, directly through the Launchpad portal. Borrowers will receive instant appointment notification in real-time, including information about their appraiser or signing agent. This process cuts out the unnecessary back-and-forth that can often add days to the timeline.
EXOS also gives lenders greater transparency in areas like title clearance and the expected clear-to-close date to help loan officers set clear and realistic expectations with borrowers from the start. Lenders will obtain a title complexity decision in mere seconds and the vast majority of title commitments in minutes. With the launch of this partnership, lenders will no longer need to rely on multiple systems throughout the mortgage origination process.
“Together we are creating a true digital experience focused both on the lender and the borrower,” said Scott Dunn, Head of Product Management and Strategy, Wipro Gallagher Solutions. “EXOS shares our vision of creating optimum digital experiences for all involved in the origination process, and we are excited to have this strategic partnership in place.”
With a constantly shifting and often volatile market, lenders must be able to keep up with the demand for shorter cycles by eliminating time-consuming pain points in the process. The WGS and EXOS integration provides a powerful solution that helps lenders respond confidently to shifting demands, while empowering them to close loans faster and improve pipeline management, helping increase customer loyalty and satisfaction. Depending on the property and its location, lenders using the full strength of this integration can confidently tell a client that the timeframe from application to closing may be as short as 15 or 20 days, or even sooner if no appraisal is needed.
“Borrowers these days are shifting their expectations. They demand streamlined, digital experiences in all aspects of their lives and financing a home is no different,” said Kiran Vattem, Chief Digital and Technology Officer, EXOS. “By working with WGS, we look forward to transforming the overall consumer experience and delivering the kind of end-to-end mortgage solution that empowers lenders and their loan officers.”
About Wipro Gallagher Solutions
Wipro Gallagher Solutions is a Wipro Limited company, focused on fueling the future lender since 1985. Wipro Gallagher Solutions’ digital lending platform NetOxygen helps lenders close more loans at lower costs, with its highly automated, workflow-driven, POS to closing solution, delivering superior borrower and colleague experience. Wipro Gallagher Solutions makes lending simpler, safer, and more profitable to lenders across retail, consumer, wholesale, and correspondent channels. For more information, please visit www.wipro.com/gallagher
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 180,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
About EXOS Technologies
EXOS, a division of ServiceLink, is the leader in providing cloud-based digital technologies to real estate lenders and servicers. EXOS Technologies transform consumers’ digital expectations around the mortgage experience through mobile apps, voice interaction, APIs, Predictive Analytics, and AI. EXOS products include Title, Valuations and Close – extending and enhancing critical consumer digital touchpoints throughout the entire mortgage lending life cycle. EXOS reduces cycle times, improves quality, and enhances a lender’s relationship with their consumer. To learn more about EXOS, please visit exostechnology.com.
For more information contact:
Wipro Limited
Nisha Chandrasekaran
Nisha.chandrasekaran@wipro.com
Forward-Looking Statements
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
