OpenClose Releases Version 4.0 of its OC Optics Web-based Enterprise Analytics and Reporting Module

Latest enhancements empower users with added configuration tools and more robust reporting functionality

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Photo: LenderAssist LOS

WEST PALM BEACH, Fla., May 14, 2015 (SEND2PRESS NEWSWIRE) -- OpenClose, an enterprise-class, multi-channel end-to-end loan origination system (LOS) provider, announced that it has released version 4.0 of OC Optics™, a web-based analytics and reporting system that integrates tightly with its LenderAssist™ LOS platform. The enhancements provide clients with more control, added functionality, and robust editing and configuration tools that effectively customizes data analysis and reporting outputs.

OC Optics 4.0 provides detailed analytics and up-to-the-minute reporting using an easy-to-configure dashboard-level user interface, which has been significantly enhanced to empower clients with more editing and report creation tools while becoming more self-sufficient. Using OC Optics 4.0, lenders can view all metrics in a single graphical interface from multiple sources such as production, secondary marketing underwriting, processing, closing, post-closing, accounting, etc.

The module utilizes business critical data to produce rich graphs, charts, performance management tools and more. As a result, organizations are able to execute intelligent, profitable business decisions while managing risk across the enterprise including other locations and branches.

Michael Luu, EVP of national production at Residential Bancorp, commented: "OC Optics has proven to be a critical enterprise management tool for our business. The system enables us to efficiently analyze and slice data across multiple origination channels. The extracted data helps us make better, more informed and faster decisions, and automatically deliver essential business management reports on a predefined schedule."

Version 4.0 of OC Optics allows permissioned users to leverage the multi-channel capability of OpenClose's LenderAssist LOS to separately analyze various activities occurring in retail, wholesale, correspondent and consumer direct lending channels. Detailed reports can be created for any business channel as well as specific functions and processes within those channels.

"Often, important information is trapped in Excel spreadsheets located in various functional areas within an organization, which renders it either useless or onerous to make sense of for business decisions," said Vince Furey, SVP of lending solutions at OpenClose. "One of the biggest advantages of OC Optics is that it provides clients with more autonomy and options to easily tap into information to create custom reports in the form of charts, graphs, dashboards and individual reports."

Directly from the dashboard, users are able to extract key information and populate it into a useful reporting presentation format that provides enterprise-wide management metrics and performance reporting from all desired business areas. This provides management with the oversight and intelligence to fully understand departmental and employee productivity and shows where areas for improvement and greater profitability can be realized.

OC Optics 4.0 can be accessed via any web browser, tablet device or smart phone. The system combines highly configurable management dashboard tools that integrate seamlessly with OpenClose's LenderAssist™ LOS to optimize the use of captured data.

About OpenClose:
Founded in 1999 and headquartered in Palm Beach, Florida, OpenClose® is a leading end-to-end, multi-channel loan origination system (LOS) provider that delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent browser-based solutions for lenders, banks and credit unions. OpenClose's core solution, its LenderAssist™ LOS, is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for comprehensive automation and compliance adherence.

For more information, visit or call (561) 655-6418.

OpenClose Twitter: @openclosesocial -

Joe Bowerbank
Profundity Communications, Inc.

OpenClose, 314 Clematis Street, Suite 200, West Palm Beach, FL 33401.

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REFERENCES: LenderAssist LOS, mortgage technology, Vince Furey, web-based analytics and reporting system, news, press release from OpenClose, May 14, 2015, Banking and Finance, Computing, Technology, West Palm Beach, Florida, OpenClose Releases Version 4.0 of its OC Optics Web-based Enterprise Analytics and Reporting Module