Wipro Gallagher Solutions (WGS), a Wipro company, has released the latest version of its Loan Origination System (LOS), NetOxygen v5.0. NetOxygen v5.0 provides users such as loan officers, processors and administrators with more simplified innovation and configuration tools to meet lenders' evolving needs and support next-gen lender transformation.

In the first of a series of significant advancements designed to simplify innovation, 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. He added, 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."

Shares of the company gained Rs 1.25, or 0.43%, to trade at Rs 290.15. The total volume of shares traded was 17,424 at the BSE (9.57 a.m., Monday).