hyperWALLET launches MORACC
New secure online payroll accounting and payment system for Canadian Mortgage Brokers chosen by VERICO Financial Group
Vancouver BC, March 25, 2008 – hyperWALLET Systems, the leading provider of global payment solutions, today announced the launch of MORACC, a secure online payroll payment system designed for Canadian Mortgage Brokers and their agents, as well as the first customer to use the MORACC service – VERICO Financial Group.
“With the launch of the MORACC service, we are leveraging the power of hyperWALLET payment technologies in order to solve the most fundamental payment challenges found in the Canadian mortgage industry“, says Chris Silverson, Vice President, Sales at hyperWALLET. “By using MORACC, VERICO has chosen a flexible and easy-to-use payment solution that will make an immediate and positive impact with their network of key business partners – we are delighted to have them as a valued customer”.
Operated by hyperWALLET in conjunction with support from CGI Group Inc. and National Bank of Canada, the MORACC system has been specifically designed to serve the sophisticated needs of Super Brokers, Independent Brokers and Franchise Networks in the Canadian mortgage market.
VERICO Financial Group Inc., a federally incorporated management company that operates the VERICO Mortgage Originators Network and the VERICO Mortgage Lenders Network across Canada, is the first customer to use the MORACC service and chose the solution in order to better facilitate commission payments across their entire broker network.
“The MORACC system will enhance each of our brokers’ ability to recruit, manage and serve their mortgage agents", said John Kelly, Chief Operating Officer of VERICO. “It also streamlines our internal royalty process and provides our broker members with the most sophisticated business information tools available that will help them grow their business and manage their success.”
To learn more about how MORACC can benefit your Mortgage Broker business, please visit www.moracc.ca.
About hyperWALLET
hyperWALLET delivers secure, global-grade payment technologies to organizations who require a simplified way to access or leverage the global financial network. Since 2000, we have become a leading provider of online and mobile payment, international payments, card products and financial technology solutions to world-class customers in Canada, the U.S. and internationally. With hundreds of customers (including more than 200 credit unions) that touch millions of users, our clients span numerous sectors including financial services, business and government.
About MORACC
MORACC is a secure online payroll accounting system that enables Canadian Mortgage Brokers to seamlessly and efficiently pay their mortgage agents by secure Electronic Funds Transfer (EFT). The MORACC system has been specifically designed to serve the sophisticated needs of Super Brokers, Independent Brokers and Franchise Networks in the Canadian mortgage market. The MORACC system is operated by hyperWALLET Systems Inc. in conjunction with support from CGI Group Inc. and National Bank of Canada.
About VERICO Financial Group Inc.
Verico Financial Group Inc. is a federally incorporated management company that operates the VERICO Mortgage Originators Network and the VERICO Mortgage Lenders Network across Canada. The VERICO Mortgage Originators Network is a national assembly of over 100 independently owned and operated mortgage brokers that employ in excess of 1,000 mortgage agents and originate approximately $7.5 Billion in annualized loan volumes. Each member of the VERICO network strives to uphold the highest standards of professionalism and expertise in the industry.
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