AMS and Bank of Montreal to co-develop World Wide Web consumer lending system.FAIRFAX, Va.--(BUSINESS WIRE)--March 12, 1996--American Management Systems (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 ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors : AMSY AMSY American Management Systems, Inc (stock symbol) ) and the Bank of Montreal “BMO” redirects here. For the mathematics competition, see British Mathematical Olympiad. Bank of Montreal/Banque de Montréal (TSX: BMO, NYSE: BMO) is Canada's fourth largest bank[1], and is classified as a Domestic Chartered Bank (Schedule I). today announced that they will co-develop an interactive lending decision system for mortgages, credit cards and student lines-of-credit through the World Wide Web (WWW WWW or W3: see World Wide Web. (World Wide Web) The common host name for a Web server. The "www-dot" prefix on Web addresses is widely used to provide a recognizable way of identifying a Web site. ). The system will enable the Bank to speed loan decisions, increase consumer access to lending and enhance customer service. The system will leverage the Bank of Montreal's core advanced technology infrastructure and will be its first self-service channel for retail lending. The initiative is expected to be available to consumers in 1996. "This is a prime example of the Bank of Montreal's commitment to providing consumers with the access services they want. Consumers will have access to lending services any time, anywhere, while the Bank of Montreal will continue to provide a high level of customized service," said Jane Weatherbie, the Bank of Montreal's vice president of personal lending services. In addition to improving customer service, the Bank expects to reduce the costs associated with originating loans and increase volumes for mortgages, credit cards and student loans. "AMS AMS - Andrew Message System and the Bank of Montreal continue to work together on several customer-based management initiatives, including enterprise-wide instant credit decisioning. The WWW project -- an electronic commerce application -- will enable the Bank to leverage its investment in advanced information technology by providing customers with direct access to credit services," said Peter F. DiGiammarino, vice president of AMS's finance industry practice. "This groundbreaking effort affords Bank of Montreal's customers a new level of valuable services through the Internet." AMS's finance industry practice is helping leading financial institutions make the fundamental shift from selling products to serving customers better and more efficiently. AMS's industry expertise enables these organizations to realize dramatic improvements in customer service and retention, market share and asset acquisition. With more than 350 financial services clients worldwide, the finance industry group is one of AMS's largest and fastest growing practices, contributing 20 percent to total AMS revenues. AMS's business is to partner with clients to achieve breakthrough performance through the intelligent use of information technology. AMS is a business and information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. firm that provides a full range of services: business reengineering, change management, systems integration, and systems development and implementation. AMS, which completed its 26th consecutive year of growth, is headquartered in Fairfax, with offices in 48 cities throughout North America and Europe. AMS's revenues for 1995 were $632 million. AMS's 1995 annual report is available on the company's home page on the World Wide Web: http://www.amsinc.com. CONTACT: American Management Systems American Management Systems (previous NASDAQ symbol: AMSY) was founded in 1970 as a technology and management consulting firm. It was founded by a group of five former United States Department of Defense officials who worked under Robert McNamara in the Kennedy and Johnson Carolyn Fairbank, 703/267-8761 or Ketchum Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Rick Leonard, 212/878-4650 |
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