BOSTON, Oct. 10 /PRNewswire/ -- Chicago Title Corporation (NYSE: CTZ)
today unveiled its new state-of-the-art technology, the "Electronic Spine," at
the 86th annual Mortgage Bankers Association of America convention.
The Electronic Spine is a multi-million dollar technology initiative
announced two years ago which allows Chicago Title's customers to order, track
and receive credit, flood, appraisal, property valuation, title, document
preparation, escrow and closing services through a single electronic
connection using the technology in which they've already invested.
Demonstrations of the Electronic Spine will be conducted by appointment at the
Chicago Title booth (#209) throughout the three-day MBA conference.
"We are convinced that using technology to improve relationships with
customers is one of the most strategic issues facing businesses today," said
Don Juhl, senior vice president in charge of the Electronic Spine. "Through
the Electronic Spine initiative, Chicago Title has developed a new approach to
real estate information services that squarely addresses a new generation of
customer criteria and provides an unlimited growth path for the next level of
customer interaction technologies."
"The Electronic Spine was designed from the ground up to be a
forward-looking electronic business solution. This technology delivers the
one-to-one services our customers want, the way they want them," added Chris
Canedy, senior vice president and national sales manager for Chicago Title
Insurance Co.'s CastleLink division.
Built using entirely industry-standard, object-oriented, Internet capable
software technologies, the Electronic Spine delivers three key capabilities:
-- Real-time continuous transaction processing through the order
management module,
-- A next-generation data rich customer care environment delivering
critical business intelligence, and
-- The ability to streamline the accounting functions associated with
multi-source product bundles through centralized billing.
Heading into the 21st century, lenders are seeking ways to outsource
either portions or all of the mortgage finance process to third-party
transaction managers -- an innovative new concept known as vendor management
-- particularly those transaction managers that also produce the mortgage
products and service themselves. Chicago Title's nationwide centralized
delivery model, coupled with its title insurance products, flood
certifications, appraisals, credit information and field services, enables
Chicago Title customers to reduce the number of service organizations through
which customers traditionally order products.
Chicago Title Corporation, through its subsidiaries, provides title
insurance, escrow and closing services, as well as property valuation, credit
information, flood compliance, property information/inspections and default
services through a network of more than 340 offices and approximately 4,100
agents nationwide. Chicago Title Corporation's title insurance Subsidiaries
-- Chicago Title Insurance Co., Ticor Title Insurance Co. and Security Union
Title Insurance Co. -- issue approximately one in every five title insurance
policies in the United States. Other subsidiaries furnishing real estate-
related products include Chicago Title Flood Services Inc.; Chicago Title
Credit Services Inc.; Chicago Title - Market Intelligence Inc.; Chicago Title
Field Services Inc. and Consolidated Reconveyance, a division of Chicago Title
Insurance Co.
Editor's Note: For further information on the Chicago Title family's
products and services, visit our web site at http://www.ctt.com .
SOURCE Chicago Title Corporation
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Related links:
http://www.ctt.com
CONTACT:
Steve Flanagan, 312-223-2959, or Bill Scott,
312-223-5030, both of Chicago Title Corporation
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