AFS Selects Carleton CALCS for AFSXpress® Consumer Loan Origination
Media Contact:
| Patricia McFeely
Director, Corporate Communications Automated Financial Systems, Inc. 484.875.1376 pmcfeely@afsvision.com |
Automated Financial Systems Selects Carleton CALCS for AFSXpress® Consumer Loan Origination
AFS' Leading-Edge Origination System Incorporates Carleton's Calculation And Compliance Capabilities
EXTON, PA, September 26, 2002 - Automated Financial Systems (AFS), the Country's leading provider of integrated lending software to major U.S. banks, this week announced an alliance with Carleton, Inc. of South Bend, Indiana, to integrate Carleton's calculation and compliance capabilities within the new AFSXpress Consumer Loan Origination delivery.
By providing a seamless integration for users, the AFSXpress product offering calls upon Carleton's software, which supports interest and payment calculations, insurance rates, dealer-reserve, and state regulatory compliance requirements.
"We chose Carleton as a critical component of our delivery process because of their superior reputation in the industry at keeping on top of individual state regulatory mandates as they pertain to consumer rate calculations, payments, dealer reserves, and insurance rates," said John Shain, President of AFS. "This strategic alliance facilitates the regulatory compliance of our customers, accessing the most accurate and reliable source available."
Already in use with Carleton CALCS, the AFSXpress Consumer Loan Origination product automates the front-end application, credit approval, document preparation, booking, and funds disbursement processes associated with issuing consumer credit, resulting in reduced costs, faster customer response, improved accuracy and customer satisfaction, and greater throughput without increased staff. The AFSXpress offering is fully integrated with AFS' premier loan accounting system, which is unique in its ability to process both consumer and commercial loans on the same system. AFSXpress Loan Origination is available on an Application Service Provider (ASP) basis via secure Internet access as one element of the integrated AFSCommerce? e-business offering.
"Alliance partnerships have been a key success factor in the growth of Carleton, Inc., noted Pat Ruszkowski, President and CEO of Carleton. "Having integrated our components into a variety of operating systems and software applications, we are pleased to be working with the leader in providing lending infrastructure to top tier U.S. banks."
About AFS
Automated Financial Systems provides asset and liability products and services as an Application Service Provider (ASP) delivery through its fully integrated e-business model AFSCommerce. With more than 33 years of experience in delivering financial services software, AFS is the industry leader in the execution of lending and treasury management solutions for top-tier financial institutions. More than $1 trillion in loans are currently processed on AFS' systems. The firm has headquarters in Exton, Pennsylvania and internationally in Cambridge, England.
About Carleton, Inc.
Carleton, Inc. has been the source for mathematical computations to the financial and credit insurance communities for more than 30 years. With a client list that includes most of the major financial and credit insurance institutions in the U.S., the firm provides solutions that save time and ensure regulatory compliance and accuracy. Carleton's suite of lending calculation software designed for integration into loan origination and/or processing systems provides enterprise-wide computational compliance. The firm is headquartered in South Bend, Indiana. For more information go to http://www.carletoninc.com.
