Conexxus

Conexxus Releases REO Optimizer Solution for Financial Institutions

Fri, 24 Jul 2009 08:28 GMT

Conexxus, LLC developer of CONEXXUS® compliance management software, introduced REO Optimizer, a combined service and software offering for the banking industry. The offering combines real estate development and banking expertise, as well as document gathering services using CONEXXUS® patent-pending monitoring software. The combination provides critical property data - historically unavailable to banking professionals in an organized and expedited format - to accelerate decision making and facilitate the timely disposal of distressed development properties.

REO Optimizer offers tremendous, immediate value to financial institutions by identifying what critical documents are needed, and promptly gathering and organizing the necessary data. Further, the software also securely shares this critical data with both the bank and its potential buyers through the web.

“Our software’s unique monitoring capabilities continue to show incredible flexibility and value to our customers. We are extremely excited about this new cutting-edge offering, as it provides an immediate solution for a significant need in financial institutions nationwide. Currently, institutions are working manually with checklists, paper files, and spreadsheets, which simply isn’t practical with the volume of non-performing assets”, said Jeff Reibel, Conexxus Founder. “The residential property foreclosure issue has been well documented. Banks are now experiencing record increases in the nonperformance of development properties, requiring special expertise, knowledge and the gathering of unfamiliar documents. Deals simply do not happen without correct documentation and understanding by both parties, or if they do financial institutions are often leaving millions of dollars on the table. The magnitude of the issue is reflected in earning releases and the extreme increase in development loan non-accrual status.”

Mr. Reibel continued, “Our solution is packaged at the right time to meet an emerging market need and is unlike any other currently available. We worked hand-in-hand with national banks and developers, to ensure that the expectations of both banks and buyers have been met by REO Optimizer. We are pleased to offer a quick and easy solution to financial institutions plagued with distressed development properties, and to assist them with resolution and recovery during this current state of the economy.”

About Conexxus:
Conexxus, LLC develops, markets, and supports software and accompanying solutions offering increased visibility and decreased costs for clients. Conexxus provides unique, integrated solutions which monitor documents, sign-offs and processes for completion, or lack thereof, across an organization on a real-time basis. Conexxus now offers REO Optimizer to financial institutions with distressed development properties. More information about REO Optimizer can be found at http://conexxus.com/solutions/optimizer/index.html.

Conexxus’ customized offerings can be utilized throughout many areas of an organization, in any industry, teamed with an affordable price-point, elevating CONEXXUS as a unique data and compliance monitoring tool. Benefits of use include increased efficiencies and reduced operating costs while ensuring compliance with external regulations, as well as internal processes and procedures. Learn more about Conexxus solutions at Conexxus.com.

Conexxus Announced As Recipient Of Investment Funds From Kentucky Science And Technology Corporation

Wed, 26 Nov 2008 03:09 GMT

Conexxus receives $500,000 equity investment from Kentucky Science and Technology Corporation.

This investment is part of a nearly $2.9 Million total funding commitment in thirteen new and growing Kentucky companies from the Kentucky Enterprise Fund, a program that invests public funds in promising technology companies in the Commonwealth of Kentucky. The Kentucky Enterprise Fund invests in technology and innovation-driven Kentucky companies. The Funds provide one-time grants and equity investments ranging from $250,000 to $750,000, which may be matched dollar-for-dollar by the company via private equity investments. KSTC manages the Fund through a partnership with the Kentucky Council on Postsecondary Education.

"The technologies being developed by these thirteen companies demonstrate that despite the difficult global economic challenges, entrepreneurship and innovation are alive and thriving in Kentucky," said Kris Kimel, president of KSTC.

Upon receipt of the funding announcement, Jeffrey T. Reibel, Founder and Chief Executive Officer of Conexxus, said, “The equity investment from KSTC is occurring at the perfect juncture as Conexxus is on the cusp of monumental growth moving from a local focus to a national presence. By applying the KSTC funds, in addition to private investment, Conexxus will continue to achieve milestones set forth in the business plan. We look forward to utilizing the funding to its full potential, to continuing our relationship with the KSTC, and providing economic growth to our state.”

About Kentucky Science and Technology Corporation
The Kentucky Science and Technology Corporation is a private, nonprofit corporation committed to the advancement of science, technology and innovative economic development founded on Kentucky know-how. KSTC is a fast-paced leader with a reputation for developing and managing creative initiatives in education, economic competitiveness and scientific research. Established in 1987, KSTC is governed by a Board of Directors comprised of leaders from business, education, and government. KSTC is an entrepreneurial company dedicated to enhancing the capacity of people, companies and organizations to develop and apply science and technology and compete responsibly in the global marketplace. To learn more, visit kstc.com.

Conexxus Receives Trademark Registration from The United States Patent and Trademark Office

Thu, 10 Jul 2008 09:31 GMT

Conexxus®, developer and marketer of compliance content management software, is proud to announce the official trademark registration from the United States Patent and Trademark Office for both the Conexxus name and logo.

“Conexxus is very excited to have received official notice of trademark registration for both the Conexxus name and logo,” shares Jeff Reibel, Conexxus Founder and CEO.

“With companies currently attempting to streamline compliance efforts and associated costs, continued formal advancement of our patent-pending technology, including the now official trademark registration, is crucial to addressing compliance management objectives for corporations regardless of size or industry. Companies are facing tough economic conditions and cost pressures today and as a result are looking to do more with less. We firmly believe that the Conexxus Compliance Content Management Solution can help companies reduce both the internal and external costs of compliance,” Jeff Reibel concludes.