Portellus Forms Strategic Partnership with OpenClose
Irvine, California (March 12, 2002) - Portellus, Inc., a leader in business logic technology today announces a partnership agreement with OpenClose Technologies, a leading financial services software company, to jointly develop and market the loan decisioning and pricing capabilities of the OpenClose lending platform.
"We're delighted to have OpenClose as a partner, as they bring tremendous expertise in developing comprehensive solutions for the mortgage industry. They have embraced the most powerful and current technologies for their products, such as Microsoft component technology and MISMO XML standards," said John Le, president of Portellus. "We are pleased to bring advanced loan decisioning and pricing solutions to their products with our Portellus Business Logic Server. This partnership marks another example of how Portellus is partnering with industry leaders to create value-add solutions for the marketplace."
OpenClose has installed Portellus Business Logic Server at its company's headquarters. Customers can see how this powerful rules-based technology allows them to deliver consistent mortgage origination business practices over touch points such as the Internet, wholesale, and call centers. Business people have control over the underwriting policies driving system behavior, without having to become programmers or to rely on IT support to make daily business changes.
"Portellus' business logic management technology enables us to meet our customers' needs for customizing systems while empowering business users. Customer reliance on programming and IT personnel decreases since business users can change and add business rules on an as-needed basis. Our successful working collaboration on behalf of multiple clients led to a formalization of the relationship." agrees Bob Sullivan, CEO of OpenClose.
About Portellus
Portellus, Inc. is a privately held company based in Irvine, California. The company's mission is to provide best-in-class solutions for business enterprises through the streamlining of business processes.
Portellus provides a universal business logic and business process management platform that enables rapid development of applications for enterprises in industries such as financial services, health care, and insurance.
A Portellus powered financial services application automates back-office processes such as rate quotation, eligibility checking, risk analysis, program underwriting, and workflow management. Beneficiaries of such applications are companies in home mortgage, auto financing, equipment leasing, small business, as well as property & casualty insurance.
Portellus delivers a streamlined business that can service customers quickly, accurately, consistently, and inexpensively.
About OpenClose
Founded in 1998, OpenClose Technologies (http://www.openclose.com)is an innovator and creator of lender-based e-business technology solutions for the financial services industry. The Lending Platform, its flagship suite of web-based tools and solutions, enables lenders to improve the way they transact with third parties and process loans.
Solutions developed by OpenClose Technologies are successfully in use by some of the industry's leading corporations. OpenClose Technologies is currently licensing technology to Fiserv UniFi Products for BrokerLink, a solution that offers lenders the first seamless end-to-end Internet wholesale origination platform available in the market. Since April 2001, BrokerLink has been marketed and distributed by Fiserv UniFi Products to its client base of lenders.
- CONTACT:
- Portellus, Inc.
- +1 (949) 250-9600
- press@portellus.com
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