Thunderhead partners with LTS to bring multi-channel document generation to the Australian Lending Industry
Sydney, Australia. Monday 29th May, 2006.
Thunderhead today announced a new strategic partnership with Lending Technology Services (LTS), the innovators behind the Lending Industry XML Initiative (LIXI). Together, Thunderhead and LTS will bring to market the first LIXI-based, multi-channel document generation solution specifically designed for the Australian lending industry.
The combination of LTS’ legal and technical experience in the lending industry as well as their LIXI expertise with Thunderhead’s industry leading document generation platform will provide the Australian lending industry with an extraordinary business solution that will deliver new efficiencies and cost savings across a lender's entire business. LTS’ proven expertise in the lending industry is embodied in the LTS Lending Framework, which offers pre-built, industry-specific components developed on top of Thunderhead’s enterprise-class document generation engine.
“After a comprehensive review of the document generation software market, the strength of the Thunderhead product set made our decision to partner with Thunderhead an easy one. By combining LTS' knowledge of the lending documentation process and LIXI with the Thunderhead platform, we are confident that we are providing Australian lenders and their service providers with a world-class document generation solution that will that will dramatically reduce the costs of producing and maintaining lending documentation,” commented Mike Thanos, CEO of LTS.
The LTS Lending Framework will enable lenders to:
Keep pace with rapidly changing industry regulations
Reduce the operational costs of producing and maintaining loan documentation
Remain compliant with the LIXI standard, as it evolves within the industry
Rapidly add new business partners and communication channels, e.g. email and SMS messaging
Easily maintain both internal and external XML messaging formats
Redeploy IT specialists on other, value-added activities, such as new product introductions
Barry Thomas, LTS Manager of LIXI Services noted, "The Thunderhead platform is world leading in its design and is the only document generation platform that is truly built on open standards. This makes the Thunderhead technology ideally suited as the underlying architecture for LTS' Lending Framework. Thunderhead was architected from the very beginning to handle the largest conceivable document generation loads. And, on account of Thunderhead’s ongoing commitment to open standards, LTS has every confidence that Thunderhead’s product capabilities will continue to grow and expand as the industry’s standards change and evolve, making our joint solution truly future proof."
“LTS' selection of Thunderhead as the core software platform for their lending solution is an outstanding validation of Thunderhead’s XML-based architecture, enterprise scalability, and broad multi-channel communication capabilities. Partnering with the innovators behind LIXI is an exciting opportunity for Thunderhead,” commented Matt Elliott, Thunderhead’s Vice President for Asia Pacific. “We are working with LTS to bring to the Australian market the first LIXI-based multi-channel document generation solution, which will address literally all print, secure-online, email, SMS and LIXI messaging formats. This solution will significantly decrease the time and costs associated with ensuring that existing back-end lending systems are LIXI compatible.”
About LTS
Lending Technology Services is a unique provider of specialist technological, consulting and business process outsource expertise to the Australian lending industry.
Formed in 1999, LTS has been consistently at the fore of shaping the Australian lending industry. LTS company pedigree can be traced back to the early 90's when the company's founding partners were attorneys performing legal settlement services for a wide range of mortgage lenders. It was from this environment that the company's detailed knowledge of the critical importance in the lending process of high quality complex legal documentation has its origins. Throughout the history of LTS, the emphasis has always been on ensuring the timely and cost efficient maintenance and production of accurate legal documentation to support our client's lending growth.
The founders of LTS had a vision for the Australian lending industry and have worked tirelessly with the broader mortgage industry to turn this vision into the reality that LIXI (http://www.lixi.com.au) represents. LIXI is the world's first finance industry wide collaboration to create an open standard XML methodology specifically for the mortgage industry participants.
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