Automated Financial Systems Joins IBM ISV Advantage for Industries Initiative
| CONTACT: Patricia McFeely Director, Corporate Communications Automated Financial Systems 484.875.1376 |
Automated Financial Systems Joins IBM ISV Advantage for Industries Initiative
Companies Team to Offer Integrated Lending Solution
EXTON, Pa., November 17, 2004 — Automated Financial Systems, Inc. (AFS-Exton) the leading provider of commercial lending solutions to top tier US banks, today announced will participate in IBM's "ISV Advantage for Industries" initiative, a program designed to provide independent software vendors (ISVs) with technical and marketing support to help meet the specific needs of financial services companies. AFS also announced that it will work with IBM to provide integrated lending solutions to financial institutions globally.
The AFS lending solution, AFSVisionT, enables financial institutions to manage all types of lending (consumer, commercial, specialized assets, and capital markets) in real-time on a single integrated system. The Company's unique Straight-Through Processing (STP) capability encompasses the lending process from end to end-loan origination through payoff or asset disposition-to facilitate risk management, regulatory compliance, and customer responsiveness. AFS' single system solution advantages clients in terms of operating costs, ability to identify and manage process exceptions, and enterprise-wide integrity of data to drive portfolio and line of business revenue.
Enabling AFSVision on IBM's eServer zSeries*, pSeries* and Linux will provide financial services institutions global web-based access to AFS' real-time lending capabilities, providing competitive differentiation from proprietary platforms. "Working with AFS, we will provide open and integrated lending and risk management solutions to global institutions that are looking for new ways to manage data across an enterprise," said June Felix, General Manager, Banking Solutions, IBM. "In addition, we are pleased that AFS has joined ISV Advantage and recognize the value of working together to best meet the needs in the financial services industry." IBM's ISV Advantage for Industries program provides extended benefits for select global industry ISVs adopting IBM's on-demand solutions and committing to go to market with IBM for a majority of their business. ISV Advantage for Industries members will make tangible technology commitments to specific IBM middleware and hardware platforms to support IBM's on-demand strategy. AFS will also work closely with IBM to expand its visibility in target vertical industries through various co-marketing and sales activities.
"Our mission is to work with strategic business partners to build the industry leading global franchise for lending processes based on the AFSVision application and on-demand services and technology," according to John Shain, President of AFS. "IBM's delivery capability will enable financial institution clients to enhance revenue, reduce costs, and mitigate risk by providing the best solution for origination, management, and distribution of loans and other credit products."
ISV Advantage for Industries is administered by IBM's PartnerWorld for Developers, the developer resource for IBM Business Partners. It is a worldwide program designed to help software developers reach broader markets, lower their costs of doing business, and take their products to market faster. For more information, visit http://www.ibm.com/partnerworld, or call 1-800-426-9990 in North America, 1-770-863-2048 outside North America.
About AFS
AFS is the industry leader in the provision of commercial lending solutions for financial institutions, combining the systems, execution expertise, and management information to mitigate risk, reduce costs, and increase revenue. AFS is headquartered in Exton, PA, a suburb of Philadelphia, and has sales offices in Illinois, New Jersey, North Carolina, and California. Its European subsidiary, Automated Financial Systems GmbH is located in Vienna, Austria. For further information, visit AFS' website at www.afsvision.com.
* Denotes a trademark or registered trademark of the International Business Machines Corporation.
