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CoreLogic Dorado Named a "Hot Banking Tech Company to Watch in 2009"
by Leading Independent Research Firm
San Mateo, California—June 23, 2009—CoreLogic Dorado Corporation, a leading North American provider of software-as-as-service consumer lending automation solutions, today announced that it has been named in Forrester Research's June 2009 Hot Banking Tech Companies to Watch in 2009: Q2 Update report.1
According to Forrester banking industry Senior Analyst Ellen Carney, CoreLogic Dorado's cloud computing service for handling lending transactions is important because "Forrester has noted a boom in the number of inquiries coming from financial institutions about lending platforms and solutions. What's driving the interest? The recognition by lenders that their existing systems have either been customized to the point where it's become too expensive to maintain them or because separate systems have been implemented for credit card, auto, student, and various residential loans. That lack of a single view exposes the lender to greater risk because it can't easily determine a single customer's loan exposure."
CoreLogic Dorado's ChannelMaster suite is the only Software-as-a-Service (SaaS)-based system on the market that offers lenders a multi-party collaborative network for streamlining loan origination and fulfillment from lead to post-close. The company's solutions help banks and other lenders market, originate, price, and fund consumer loans. Forming the foundation for the company's solutions is a cloud computing platform uniquely designed to automate and intelligently orchestrate lending activities, to consolidate internal and external functions into a unified process, and to connect lenders with their partners and other third parties in a collaborative, real-time environment. The resulting networked services system provides a lender's management with a detailed and consolidated view of every loan and its workflow status, enabling transaction transparency, centralized tracking, and a more accurate electronic data handling and recording process.
"Our networked services approach to consumer lending automation offers faster time to market, fewer day-to-day IT and other staff resources, and the flexibility to adapt rapidly to changing financial markets, product demands, and regulatory requirements,” said Dain Ehring, chief executive officer at CoreLogic Dorado. "Several of the top financial institutions in the world entrust CoreLogic Dorado with their mission-critical lending systems, and we are pleased to be recognized by Forrester as a technology provider that addresses today's challenging banking industry needs. Our goal in the coming year is to continue to enhance our Enterprise Lending System for our customers, and to expand the breadth and distribution of our SaaS solutions in the way of new partnerships and other product initiatives."
Forrester Research is an independent research company providing advice to global leaders in business and technology. Its "Hot Companies to Watch" series highlights important technology trends in various sectors, including banking and insurance. The series has been running quarterly since the start of 2008. Forrester's banking technology report focuses on companies applying innovative technology to meet diverse or emerging banking industry needs, including better ways to reduce fraud costs, creating more effective tools to manage the banking workforce, more meaningful customer interactions, and to address the challenge of mortgage defaults, among other applications. To order a copy of the full report, visit www.forrester.com.
CoreLogic Dorado is a leading provider of intelligent software-as-a-service (SaaS) systems to the financial services industry. The company offers banks a fully automated system for managing and tracking the consumer lending process from point-of-sale through funding. Along with the benefits of SaaS – increased functionality and dependability with minimal capital costs, flexible configurations, and rapid deployment, CoreLogic Dorado's workflow solutions uniquely enable users to monitor transactions in real-time and to collaborate across multiple parties. CoreLogic Dorado customers gain competitive advantage via efficiencies, better control over the product mix, and built-in compliance. Moreover, the company's pay-for-performance model provides a predictably priced alternative to single-point solutions, closed systems, and internal development. In May 2009, the company again achieved SAS 70 Type II certification. Founded in 1998, CoreLogic Dorado is a privately held company headquartered in San Mateo, California. CoreLogic Dorado's customers included four of the top ten U.S. mortgage lenders in 2008, and the company's solutions are currently being implemented at a top five Canadian bank.
Source: 1Hot Banking Tech Companies to Watch in 2009: Q2 Update, Forrester Research, Inc., June 17, 2009.
Contacts:
Kristina J. Yee
Sr. Director, Marketing & Communications
CoreLogic Dorado Corporation
+01.650.227.7329
Chris Sullivan
Public Relations Counsel
MacMillan Communications
+01.212.473.4442
Copyright © 2009 CoreLogic Dorado Corporation. All rights reserved. The CoreLogic Dorado logo is a registered trademark of CoreLogic Dorado Corporation. Other company and/or product names may be trademarks or registered trademarks of their respective companies.
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