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Olea Kiosks, Inc. Announces Manufacturing Expansion, Engineering Growth

LOS ANGELES, Calif. -- Olea Kiosks®, Inc., a visionary provider of self-service kiosk solutions, today announced expansion of its manufacturing and engineering capacity in Los Angeles, Calif. This expansion enables Olea to continue to grow its customer base, partnerships, and OEM relationships to provide faster time to market and greater operational agility.

Going from 48,000 square feet to more than 80,000 square feet, this investment allows Olea to grow its manufacturing volume in its current site and move test and assembly to the new facility next door. The company has also brought on additional engineering design resources and further invested in its data-driven approach to scale and automate internal processes.

Following the completion of site improvements in Q1, this expansion will also provide more floor space to stock additional items giving the company greater capacity to shorten turn-around times on its most popular kiosks.

"This is an exciting new chapter for Olea Kiosks and a considerable progression in our strategic journey," said Frank Olea, Chief Executive Officer. "As a domestic supplier, we've prevailed in an extremely challenging competitive environment. With our universal models, custom designs, and OEM business, we want to further scale for production, field deployment, and support to provide increased value to our strategic partners and produce superior solutions for our customers while serving as a preferred supplier and employer for decades to come. This also gives us some additional space for more exciting changes later this year... more on that to come," added Olea.

Many kiosk suppliers manufacture overseas, and while that can appear to deliver cost savings, it's often in exchange for time-to-market, lack of control, inconvenience, and quality. With the addition of four new products over the last 18 months and just as many in 2021, Olea Kiosks® will further expand its rich and diverse self-service kiosk solution portfolio.

About Olea Kiosks®, Inc.

Olea Kiosks Inc., is a self-service kiosk solution provider for the attractions and entertainment, healthcare and hospitality industries. Its technologically advanced, in-house manufacturing, design, and innovation have made it an industry leader. Headquartered in Los Angeles, California, customers include The Habit Burger Grill, Kaiser Permanente, Empire State Building, Universal Studios, EVO Entertainment, Scientific Games, and Subway.

For more information, visit

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*Caption: Olea Building Expansion.

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Business, Free News Articles

Mortgage Automation Pioneer Hires Veteran Tech Entrepreneur Michael Schreck as CEO

IRVINE, Calif. -- Cloudvirga(SM), developer of next-generation loan officer and direct-to-consumer point-of-sale (POS) systems, has named Michael Schreck its chief executive officer. He succeeds cloudvirga co-founder Bill Dallas, who will continue as chairman of cloudvirga's board of directors.

Schreck joins cloudvirga on the heels of a successful Series B funding round that netted the company $15 million led by Blackstone Group portfolio company Incenter (joining previous investors Upfront Ventures and Dallas Capital). He brings a deep understanding of the digital mortgage space and two decades of experience nurturing leading tech firms as a CEO, venture capitalist and co-founder.

"The mortgage industry has been waiting for decades for a modern, automated and intelligent software platform that drives down costs while improving compliance," said Schreck. "That software is finally here with cloudvirga, built inside a top originator and now in flight at eight of the country's top 40 non-bank originators. Our customers, whether retail or call center, now have a compelling answer to Rocket Mortgage and a proven path to reducing their costs."

Cloudvirga re-engineers the mortgage workflow to give consumers greater control over the loan application process and accelerate the mortgage sales funnel for loan officers. The company's digital mortgage technology delivers underwriter-ready loan applications with unmatched speed and quality, resulting in massively reduced costs to produce.

"Michael embodies the entrepreneurial mindset and enterprise expertise that will define the next phase of cloudvirga's growth," said Dallas. "His record of success leading top-caliber companies and attracting heavyweight global talent will benefit cloudvirga tremendously as the company continues to accelerate."

For 20 years, Schreck has built and led pioneering companies whose innovative technologies enable the world's leading brands to better engage with their customers. He most recently served as managing director of Altisource Labs, an innovation center within mortgage software provider Altisource Portfolio Solutions. In that role, he was responsible for overseeing more than 1,000 employees across four next-generation software and analytics companies, including leading software-as-a-service providers Equator and Mortgage Builder.

Schreck previously held CEO positions at digital publishing firm Zmags and government service provider Corrective Solutions. He also co-founded General Catalyst Partners, a multi-billion-dollar venture capital firm where Schreck helped develop successful startups including Upromise, SmartBargains, m-Qube and CoreMetrics. Collectively, these companies were acquired for over $1 billion by SLM, GSI Commerce, VeriSign and IBM, respectively.

Schreck started his career as a strategy consultant at McKinsey & Company and Monitor Company. He holds an MBA degree from Harvard Business School and a bachelor's degree from Brigham Young University.

About cloudvirga(SM):

Cloudvirga's next-generation loan officer and direct-to-consumer point-of-sale (POS) systems re-imagine the digital mortgage process by leveraging data and automation to address back-office compliance tasks earlier in the loan process, radically cutting overall loan costs, increasing transparency and reducing the time it takes to close a loan for both borrowers and lenders. Founded by top fintech veterans with a proven track record of building mortgage-related technologies, cloudvirga is committed to delivering software that reinvents the mortgage process for lenders and borrowers. Cloudvirga's initial customer roster includes eight of the top 40 non-bank mortgage originators in the United States.

For more information, visit or follow cloudvirga on LinkedIn at

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* PHOTO Caption: Michael Schreck joins cloudvirga as CEO.

*Editorial Note: Usage of company name "cloudvirga" is lower case except when starting a sentence, and is a service mark of cloudvirga, Inc.

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Business, e-Commerce, Free News Articles

Cloudvirga Introduces AccountChek Automated Asset Verification into Its intelligent Mortgage Platform

ATLANTA, Ga. -- FormFree today announced that cloudvirga(SM), developer of the automated, cloud-based intelligent Mortgage Platform(R) (iMP), has selected AccountChek(TM) for automated asset verification. Cloudvirga's custom integration of AccountChek into the iMP collects borrower account information early in the loan application process and offers a seamless asset verification experience unlike any other mortgage point-of-sale (POS) system in the marketplace today.

"Cloudvirga is re-engineering the mortgage workflow with a relentless focus on increasing efficiency and driving down the cost of lending," said Kyle Kamrooz, co-founder of cloudvirga. "Our partnership with AccountChek by FormFree exemplifies how cloudvirga delivers on the promise of true automation."

A next-generation mortgage POS system, the iMP takes consumer empowerment way beyond the typical digital loan application while automating the entire initial disclosures process for loan officers and consumers in all 50 states. The POS gives consumers and loan officers an automated, intuitive and compliant workflow while moving many traditional back-office tasks to the front of the loan process.

FormFree's flagship app, AccountChek allows borrowers to securely link asset and deposit data from virtually any financial institution. Within seconds, lenders receive detailed analysis on the borrower's ability to repay. Trusted by hundreds of lenders and hundreds of thousands of borrowers, AccountChek was the first provider of asset verification to participate in Fannie Mae's Day 1 Certainty(TM) initiative.

"AccountChek is a perfect fit for the intelligent Mortgage Platform, not just because we're the most trusted name in asset verification, but also because we share cloudvirga's vision of a more modern and efficient way of lending," said Brent Chandler, chief executive officer and founder of FormFree. "By not only collecting but applying sophisticated analysis to borrower data, AccountChek completely eliminates the need for back-office verification."

About cloudvirga(SM):

Cloudvirga is the company behind the cloud-based intelligent Mortgage Platform(R) (iMP) designed to streamline the mortgage process. The platform is digitizing the mortgage industry by deploying an automated workflow to reduce overall cost, increase transparency and shorten the time it takes to close a loan for both borrowers and lenders. Founded by Bill Dallas, Kyle Kamroo, and Mark Attaway, seasoned financial veterans with a proven track record of building mortgage-related technologies, cloudvirga is disrupting the antiquated mortgage industry.

For more information, visit or follow cloudvirga on LinkedIn at

About FormFree:

Leading lenders trust Athens, Georgia-based FormFree to deliver automated verification solutions that streamline the loan origination process and provide better intelligence on borrowers' ability to repay. FormFree's flagship app, AccountChek(TM), eliminates the hassle of collecting paper statements from borrowers by using direct-access data untouched by human hands to consolidate, analyze and verify assets. Lender tested and GSE approved, AccountChek securely delivers automated asset verification data and on-demand reports to more than 200 leading U.S. lenders and their millions of customers. FormFree was named one of American Banker magazine's "Top 10 Tech Companies to Watch" in 2015.

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