AFFILIATED COMPUTER SERVICES NAMED AS FIRST-OF-ITS-KIND VALUE ADDED REMARKETER FOR AFFINITY, INDUSTRY'S FIRST AUTOMATED LOAN MACHINE PROVIDER; ACS MoneyMaker customers to reap benefits of expanded service offering.DALLAS--(BUSINESS WIRE)--Dec. 4, 1995--Strengthening its position as the nation's premier provider of automated banking devices, Affiliated Computer Services Affiliated Computer Services (ACS) (NYSE: ACS) is a Fortune 500 company that provides information technology outsourcing as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations. Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ACSA ACSA Association of Collegiate Schools of Architecture ACSA Association of California School Administrators ACSA Airports Company South Africa ACSA Apple Certified System Administrator ACSA Australian Curriculum Studies Association ) and South Carolina-based Affinity Technology group today announced at the Bank Administrative Institute Retail Delivery Conference an agreement in principle for a value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. remarketer agreement. Terms of the non-exclusive agreement will call for ACS (Asynchronous Communications Server) See network access server. to remarket Affinity's automated loan machines (ALMs) to current and future customers of ACS's MoneyMaker(SM) ATM network. Affinity's ALMs allow consumers to apply for and obtain unsecured loans as well as car loans, equity loans and even home loans. The machines use computer touch-screen technology, much like that of a user friendly information kiosk, to guide a user through a series of questions normally found in a traditional hardcopy loan application. Unlike the traditional application process, however, the ALM verifies and processes the information instantly. The entire application process occurs in real time, on-line in less than 10 minutes. The approved borrower is issued a check or receives a direct deposit into an approved account immediately. The ALMs use a credit scoring Credit scoring A statistical technique that combines several financial characteristics to form a single score to represent a customer's creditworthiness. model to determine the amount of money and the interest rate for which an applicant is qualified. The ALM identifies applicants through the swipe of a debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. , credit card or drivers license, and uses electronic cameras and signature pad technology to validate the identity of the customers. The machines also provide banks with the ability to cross-sell products and services in a real-time environment. While the customer's application is being processed, the ALM deployer can market credit cards, checking and savings accounts and other loans. Thomas M. Rouse, executive vice president of ACS's financial services group, said the remarketing agreement with Affinity will heighten ACS's ability to provide state-of-the-art products and services to its MoneyMaker ATM customers. "As consumers become increasingly comfortable with the concept of banking by machine, both financial institutions and retailers are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. services to be offered electronically," Rouse said. "ACS is proud to be able to provide its MoneyMaker customers, both financial institutions and retailers with Affinity's revolutionary ALMs. Our expanded service offering will provide our clients with new sources of revenue and continues ACS's record of being the premier provider of self-service financial products nationwide." ALM creator and Affinity Chief Executive Officer Jeff A. Norris said the agreement with ACS will assist Affinity in setting the standard for the delivery of consumer-driven financial products and services. "ACS's expertise in and penetration of a wide variety of markets-- banks, grocery and convenience stores, airports, gas stations, truck stops--through its MoneyMaker network is a perfect complement to the immediacy and convenience provided by the ALM. Together, ACS and Affinity will allow larger numbers of consumers to conduct financial business at their convenience, anytime, anywhere, 24 hours a day," Norris said. Affinity, founded in 1993, began offering ALMs to the financial marketplace last year. Currently, Affinity is under contract to provide ALMs to numerous national and regional financial institutions, including Ohio-based Banc One Corporation. With 3,400 employees nationwide, ACS provides information technology services, including outsourcing, professional services, electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. (EFT), and image management. Headquartered in Dallas, Texas, the Class A Common Stock of ACS is traded on the NASDAQ National Market System under the symbol ACSA. CONTACT: Affiliated Computer Services, Dallas Suzie Mullins, 214/841-6388 suzie_mullins@acs-inc.com or Maria Villarino, 214/480-9458 maria@airmail airmail, transport of mail by airplanes. Demonstration flights that showed the feasibility of carrying mail by air were made in Great Britain and in the United States in 1911. .net. |
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