MindBox Shines in Financial Services Market; Nation's Leading Financial Institutions Choose Artificial Intelligence Developer to Enhance Client Interactions.Business Editors, High-Tech Writers GREENBRAE, Calif.--(BUSINESS WIRE)--June 19, 2000 Hitting the market in full stride only a month after its spin-off from Brightware(TM), MindBox, Inc., the worldwide leader in providing artificial intelligence applications to automate complex business and operations processes for the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry, today announced an impressive client roster consisting of many of the top lenders and financial institutions in the country. Customers include industry leaders such as Countrywide Home Loans, Fannie Mae Fannie Mae: see Federal National Mortgage Association. , Freddie Mac Freddie Mac: see Federal Home Loan Mortgage Corporation. , HomeSide Lending, Mortgage.com, GE Capital Corporation, and Upland Mortgage. MindBox expects to add to this list in the coming months, resulting in revenues forecasted to exceed $20 million in its first fiscal year. Utilizing MindBox's artificial intelligence applications, lenders are able to automate and streamline complex business and operations processes within the areas of mortgage lending origination and underwriting, insurance underwriting, sales assistance, credit grading, compliance verification, terms of business, portfolio management, personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. pricing, deal structuring, cross-selling and best execution. For example, Freddie Mac used MindBox technology to streamline an automated form for its mortgage servicers. All of these systems are built using the expertise of MindBox's award-winning consultants and its innovative ART-Enterprise, a market leading artificial intelligence development platform that has proven itself in over 200 customer deployments. "The fact that we have reached such a critical mass of customers is a testament to the tremendous benefits that we deliver to financial services companies using our technology," said Richard Barfus, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of MindBox. "No other company can match the depth of expertise that we have in artificial intelligence and its application in financial services. We know how to improve customer satisfaction while at the same time decreasing the cost of business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets ." "We've reduced the cost of processing a loan from $1,400 to $900," explains Dan Scheuble, Chief Information Officer of HomeSide Lending. "In reducing our costs by 35 percent on each loan, we've increased our mortgage origination volume and kept our prices low." MindBox in Financial Services -- Countrywide Home Loans: Countrywide Credit Industries, Inc. (NYSE NYSE See: New York Stock Exchange :CCR 1. CCR - condition code register. 2. CCR - (Database) concurrency control and recovery. ) provides consumer and business-to-business financial services in domestic and international markets. -- Fannie Mae: Fannie Mae is the country's third largest corporation, in terms of assets, and the nation's largest provider of funds for home mortgages. -- Freddie Mac: Freddie Mac is a stockholder-owned corporation chartered by Congress to increase the supply of funds that mortgage lenders can make available to homebuyers and multifamily investors. -- HomeSide Lending: HomeSide Lending is one of the largest full-service residential mortgage banking companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Headquartered in Jacksonville, Florida “Jacksonville” redirects here. For other uses, see Jacksonville (disambiguation). Jacksonville is the largest city in the state of Florida and the county seat of Duval County. , HomeSide services over $145 billion in home loans representing over 1.6 million homeowners. -- Mortgage.com: Mortgage.com (NSDQ NSDQ Night Stalkers Don't Quit (US Army 160th SOAR slogan) : MDCM MDCM School of Media and Communications (School at University of New South Wales, Australia) MDCM Medicinae Doctorem et Chirurgiae Magistrum (Latin: Doctor of Medicine and Master of Surgery) ), is a pioneer in online mortgage banking, dedicated to reducing to reducing the cost of mortgage origination and funding by supplying financial institutions, realtors and homebuilders with point-of-sale and Internet technology, business management, loan processing, call center and mortgage funding capabilities. -- GE Capital Corporation: GE Capital (NYSE: GE) offers a wide range of value-added financial products and services through a network of 28 specialized businesses in five core niches: Equipment Management, Customer Services, Specialized Financing, Mid-Market Financing and Specialty Insurance. -- Upland Mortgage: Upland Mortgage is a retail mortgage lender offering the most flexible and convenient loan programs available in the market today. About MindBox, Inc. Based in Greenbrae, California Greenbrae is a small community in Marin County, California located adjacent to U.S. Route 101 at the opening of the Ross Valley. Part of Greenbrae is in an unincorporated area of the county while the remaining area is inside city limits of Larkspur. The zip code is 94904. , MindBox, Inc. is the worldwide leader in providing artificial intelligence applications to automate complex business and operations processes for the financial services industry. The company develops and markets innovative software and consulting solutions that leverage industry and internal best practices to deliver multi-channel, intelligent solutions designed to optimize client interactions. For more information, please visit MindBox's Web site at www.mindbox.com or call 877/650-MIND (6463). For a current list and more details on customers and partners, please visit the MindBox Web site at www.mindbox.com/clientlist/index.shtml. MindBox is a trademark of MindBox, Inc. All other company and product names may be trademarks of their respective owners. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion