Othera and DXC Technology announce Global Alliance Partner Agreement

March 8, 2018 • Katie O’Mara, Head of Marketing • Othera

DXC Technology (NYSE: DXC), the world’s leading independent, end-to-end IT services company, and Othera, developer of blockchain software that is revolutionising the origination and sale of loans, today announced the signing of a Global Alliance Partner Agreement.

Under the agreement, DXC will introduce Othera’s loan origination and capital markets technology to their global banking and capital markets clients. As a provider of end-to-end bank grade technology for many global financial services clients, DXC deliver cutting edge solutions with a focus on helping clients reduce costs and increase revenue year-on-year.

In partnering with Othera, DXC will collaborate on client integrations of Othera’s technology and will provide the bank grade security services, hardware integrations and technical support services that will facilitate secure deployment of Othera’s technology.

Othera are leading the fintech industry in development of blockchain technology for end-to end, loan lifecycle management and loan sales and are one of few blockchain companies who are delivering enterprise grade software to the financial services industry. Their proprietary, technology is helping originators to reduce loan origination costs by increasing automation across the loan lifecycle, and to significantly increase liquidity and bottom line revenue through their proprietary loan sales module.

DXC are the first partners to sign a global agreement with Othera and together, they are already in advanced commercial discussions with large loan originators in the U.S. and Europe for integration of the blockchain technology. Of the new Global Partner Alliance agreement, John Pellew, CEO and founder of Othera said,

“DXC are a trusted, leading provider of global IT services and have a proven track record of delivering high value to their finance clients. There is a strong synergy between DXC and Othera’s technology and our value propositions are complementary, which will enable us to work well together to deliver more effective and comprehensive financial benefits to our clients. We are looking forward to working closely with DXC to deliver market leading capital markets solutions to originators across the U.K., U.S. and Europe”.

How it works

Othera’s capital markets module utilises blockchain smart contract technology and sophisticated algorithms to enable lenders to prepare, issue and sell individual loans or pool of loans, faster and for less cost when compared with traditional securitization methods.

John Pellew, CEO and Founder of Othera said,

“The capital markets module of our technology allows lenders to create new, high yielding, fixed-income digital assets. Each digital asset can be engineered to have a predefined price, term, risk and return profile that meet the needs of their investors. Sales of these digital assets can then take place on a private Digital Asset Exchange. The value of this module lies in delivering significant increases to overall liquidity, whilst providing lenders with discriminate, loan-level control and the ability to manage balance sheet risk in near real time.”

Further advantages to the bottom line

Othera’s end-to-end loan origination software also reduces costs across the life of the loan, from borrower application through to loan settlement. The platform offers a comprehensive workflow management and document recording system that applies smart contract automation, workflow optimisation and broad API connectivity to replace costly and inefficient data sharing, auditing and manual back office processes.

John Pellew has invested a lot of time meeting with people in the industry and said,

“Our experience in talking with a range of originators across the financial sector indicates that many lenders are still using an inefficient combination of legacy technology and manual processes to complete the loan origination and sale process. Othera’s platform can now help these lenders to automate a range of manual processes, all of which add up to extensive cost reductions across the life of a loan”.

Othera’s software has been developed with blockchain interoperability in mind and it integrates with a DXC client’s existing technology through a series of APIs, enabling DXC’s clients to leverage the benefits of blockchain whilst not requiring a full technology overhaul or significant changes to their existing origination workflows.

  Further reading on DXC- Othera partnership: Can Blockchain prevent financial earthquakes?

About DXC Technology

DXC Technology is the world’s leading independent, end-to-end IT services company, helping clients harness the power of innovation to thrive on change. Created by the merger of CSC and the Enterprise Services business of Hewlett-Packard Enterprise, DXC Technology serves nearly 6,000 private and public sector clients across 70 countries. The company’s technology independence, global talent, and extensive partner alliances combine to deliver powerful next-generation IT services and solutions. DXC Technology is recognized among the best corporate citizens globally. For more information, visit https://www.dxc.technology.

About Othera

Othera is leading the way in the digitisation, issuance and trade of whole and partial loans. Application of Othera’s blockchain and smart contract technology reduces costs and risk for both lenders and investors by increasing asset transparency and liquidity, and digitising and automating manual processes and reducing inefficiencies. Othera’s re-imagination of loan origination and capital markets through their blockchain loan origination system, digital asset exchange and capital markets platform is delivering innovative solutions to meet the needs of lenders and sophisticated investors.