MMRGlobal Announces Plans to Build Branded Document Delivery and Tracking Solution for Banks and Financial Institutions
04/18 08:35 AM
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LOS ANGELES, CA -- (MARKET WIRE) -- 04/18/11 -- MMRGlobal, Inc. (MMRF:$0.06,00$0.00,000.00%) today announced plans to develop a secure, branded document management and delivery system designed to speed up processing of loan documents for the financial services industry. Approximately four years ago, the Company began working with representatives from Countrywide Financial to speed up processing and delivery of loan documents in lieu of traditional systems, such as overnight courier services, at substantially less cost. The rollout was delayed by the acquisition of Countrywide by Bank of America (BAC:$12.8200,$0.0000,0.00%) . The Company projects a beta test of the product later this year and will now begin offering similar programs industry wide.
Additionally, after a transaction is completed, fully executed loan packages can be delivered to borrowers in a branded version of the Company's MyEsafeDepositBox virtual safe deposit box (www.myesafedepositbox.com) similar to the private-labeled MyMedicalRecords site built by the Company for Chartis Insurance (www.chartisinsurance.com/mmr). If the borrower wants to keep his or her virtual safe deposit box, it can be invoiced on the bank's loan processing statement, providing additional revenue of several hundred dollars a year per account to the bank.
The product will also have the ability to track borrower actions pertaining to the processing of documents, including tracking of opening and reviewing as well as authentication of approvals.
Store All Records, one of MMR's sales organizations, originally introduced the Company to Countrywide Financial. Store All Records will continue working with MMRGlobal (MMRF:$0.06,00$0.00,000.00%) to expand this program nationwide.
About MMRGlobal (MMRF:$0.06,00$0.00,000.00%)
MMRGlobal, Inc. (MMRF:$0.06,00$0.00,000.00%) , through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. (MMR), provides secure and easy-to-use online Personal Health Records (PHRs) and electronic safe deposit box storage solutions, serving consumers, healthcare professionals, employers, insurance companies, financial institutions, and professional organizations and affinity groups. MyMedicalRecords enables individuals and families to access their medical records and other important documents, such as birth certificates, passports, insurance policies and wills, anytime from anywhere using the Internet. The MyMedicalRecords Personal Health Record is built on proprietary, patented technologies to allow documents, images and voicemail messages to be transmitted and stored in the system using a variety of methods, including fax, phone, or file upload without relying on any specific electronic medical record platform to populate a user's account. MMRGlobal's (MMRF:$0.06,00$0.00,000.00%) professional offering, MMRPro, is designed to give physicians' offices an easy and cost-effective solution to digitizing paper-based medical records and sharing them with patients in real time through an integrated patient portal. MMR is an Independent Software Vendor Partner with Kodak to deliver an integrated turnkey EMR solution for healthcare professionals. MMR is also an integrated service provider on Google Health. To learn more about MMRGlobal, Inc. (MMRF:$0.06,00$0.00,000.00%) and its products, visit www.mmrglobal.com.
Forward-Looking Statements
Any statements contained in this press release that refer to future events or other non-historical matters are forward-looking statements, and some can be identified by the use of words (and their derivations) such as "need," "possibility," "offer," "development," "if," "negotiate," "when," "begun," "believe," "achieve," "will," "estimate," "expect," "maintain," "plan, " "could," "help" and "continue," or the negative of such terms and other comparable terminology. MMRGlobal, Inc. (MMRF:$0.06,00$0.00,000.00%) disclaims any intent or obligation to revise or update any forward-looking statements. These forward-looking statements are based on MMRGlobal, Inc.'s (MMRF:$0.06,00$0.00,000.00%) reasonable expectations as of the date of this press release and are subject to risks and uncertainties that could cause actual results to differ materially from current expectations. The information discussed in this release is subject to various risks and uncertainties related but not limited to changes in MMRGlobal, Inc.'s (MMRF:$0.06,00$0.00,000.00%) business prospects, its results of operations or financial condition, timing and volume of sales and installations, length of sales cycles and the installation process, market acceptance of new product introductions, ability to establish and maintain strategic relationships, relationships with licensees, competitive product offerings and promotions, government regulation and changes in healthcare initiatives, and such other risks and uncertainties as detailed from time to time in MMRGlobal, Inc.'s (MMRF:$0.06,00$0.00,000.00%) public filings with the U.S. Securities and Exchange Commission.
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