ISGN strengthens its mortgage industry leadership position; acquires US mortgage software firm Dynatek

007 ISGN Confidential | All rights reservedFor Immediate ReleaseISGN strengthens its mortgage industry leadership position; acquires U.S. mortgagesoftware firm DynatekAddition of mid-market leader Dynatek to ISGN's growing list of mortgage solutionscompanies expands mid-market penetration and increases its customer base to 400lendersChennai, India May 21st, 2007  ISGN, a rapidly growing provider of technologyservices to the U.S. mortgage industry, has announced it has acquired Dynatek, aU.S.-based provider of mortgage automation software for retail and wholesalelenders. With this acquisition, ISGN now serves more than 400 lender clients,achieving considerable penetration into the industryÂ's mid- market, and has addedanother significant asset in-line with its overall strategy of becoming theindustryÂ's technology and service leader.Dynatek is an established pioneer in providing software to mid-market mortgagelenders in the United States. DynatekÂ's flagship product, MORvision, is a flexiblelending solution that automates processes such as point-of-sale and web originationthrough processing, underwriting, closing, secondary tracking and delivery. ISGNÂ'saddition of Dynatek follows the companyÂ's late-March acquisition of the mortgagesoftware division of Fair Isaac Corporation, a leading U.S.-based provider ofpredictive technology to the financial services industry. These acquisitions driveISGNÂ's competitive strategy of bringing process and technology improvements, as wellas cost efficiencies to the mortgage industry through platform-based knowledgeprocess outsourcing (KPO).Unlike traditional business-process outsourcing, which is employed along ahorizontal business process, such as accounting,  knowledge-process outsourcingrequires deep industry expertise and sourcing partners that can execute and improveupon mission critical tasks, such as loan origination and processing. The total,global KPO market is predicted to grow to $15.5 billion in 2010 from $1.2 billion in2003, a rate of 44% annually, according to the Indian industry trade associationNASSCOM. In a platform-based KPO model, ISGN would provide both software andservices to lenders who originate or refinance the $2.6 trillion worth ofresidential mortgage loans in the U.S. each year. ISGN is pleased to announce the acquisition of Dynatek, a pioneer in the mortgagesoftware space, said Krishna Srinivasan, Chief Executive Officer and Vice-Chairmanof ISGN,  With this acquisition and our combined customer base of more than 400lenders across all market segments, we have a tremendous responsibility to innovateand enhance process excellence in order to service an industry that is going througha business model transition at a rapid pace never before seen. We believe that ourcombined strengths, size and portfolio of offerings give us the agility andcapability to deliver value to customers and transform the lending experience. Weare very enthusiastic about the potential of this synergy. Upon closing of the transaction, Livonia, Michigan-based Dynatek will become awholly owned subsidiary of ISGN. Founded in 1986, Dynatek first offered aWindows-based loan origination product in 1995 and a web-based solution in 1999. Dynatek is pleased to join forces with ISGN, a company that has both the leadershipand business model to transform the U.S. mortgage industry, said Jack Luhtanen,Chief Executive Officer of Dynatek,  Together we can help build upon the successweÂ've experienced in more than two decades of bringing technology solutions thatsimplify and automate the lending process. Lenders want to invest in a partner and aproduct that will provide a long-term solution to their business needs, and this iscore to the philosophy of both Dynatek and ISGN. About ISGN ISGN Technologies, Ltd., is a leading global solutions company inaggressive pursuit of transforming the US mortgage industry with platform-basedknowledge process outsourcing (KPO) and consulting services. ISGN has over 400clients including the top-20 and a majority of the top-50 U.S. mortgage lenders.Jointly headquartered in Chennai and Philadelphia, Pennsylvania, ISGN has officesworldwide, including locations in Delhi, London, Singapore, and across the UnitedStates. With subsidiaries such as leading U.S.-based mortgage technology firmsMortgageHub and Dynatek, ISGN is backed by the K.K. Birla Group, one of IndiaÂ'sleading conglomerates. For more information, please visit www.isgn.com.About Dynatek Founded in 1986 and headquartered in Livonia, Mich., Dynatek has beenrevolutionizing mortgage automation for retail and wholesale lenders for more than 2decades. DynatekÂ's MORvision is a flexible solution that automates everything frompoint-of-sale and web origination through processing, underwriting, closing,secondary tracking and delivery. Dynatek is attributed with a long list of industryinnovations including their award-winning Plug-In Partner Network, which seamlesslyconnects MORvision users to industry partners with just one click; and their uniqueControl Center, which offers capabilities for eMortgage, business processmanagement, and multi-client support. With DynatekÂ's complete mortgage softwaresolution and multi-faceted approach to customer service, the company has earnednumerous industry commendations and the respect of hundreds of full-service financial institutions across the nation.For more information on Dynatek or to schedule a demonstration, call 800.462.5545 orlog on to www.dynatek.comMedia RelationsIndia:Ranjani Roy, Gutenberg CommunicationsMobile (91) 98863 77941Email ranjani@gutenbergpr.comUma MaheshISGN Technologies LtdUma.Mahesh@isgn.comUS:Mi ke Sherrill, Gutenberg CommunicationsTele (212) 239-8741Email msherrill@gutenbergpr.com

Source: Express-Press-Release.com

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