Automated Financial Systems, Inc. Announces International Office; Leading Lending and Treasury Management Firm Hires Senior Banking Professional to Lead UK-Based Team.Business Editors EXTON, Pa.--(BUSINESS WIRE)--Sept. 17, 2002 Automated Financial Systems, Inc. (AFS A distributed file system for large, widely dispersed Unix and Windows networks from Transarc Corporation, now part of IBM. It is noted for its ease of administration and expandability and stems from Carnegie-Mellon's Andrew File System. AFS - Andrew File System ) announced today that the Company has opened European Headquarters in the UK in a commitment to developing the Company's powerful U.S. franchise internationally. The Company has selected John Reffell, a seasoned international banking and capital markets professional, to head the office as Executive Director of International Operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. for AFS in Europe, the Middle East, and Africa. John brings 27 years of experience from Citicorp, Chase, BoTM, and ING-Barings where his positions sent him to New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , and London. "John's hiring underscores the AFS commitment to deploying its dominant U.S. brand internationally," said AFS President John Shain. "John brings in-depth experience of the international markets, which is pivotal to the deployment of the next generation of AFS integrated products and services internationally in wholesale financial markets." With more than 300 active system implementations, AFS has focused on distinguishing its leadership position through the development of a single, end-to-end automated loan accounting system capable of processing any type of loan including consumer, small business, commercial, or specialized assets. This focus, coupled with a strong emphasis on continued reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. in product development, has enabled AFS to dominate the domestic lending software market. AFS currently serves the top 75 percent of U.S. banks, and has developed a long-standing track record domestically. AFS processes more than $1 trillion in loans on its systems, and the integration and scalability of all AFS products and services enables financial institutions to attain revenue advantages that are reflected directly in return on equity. With AFS, the return on equity allocated to the loan portfolio has been proven to be as much as 60 percent greater than that of average institutions using other systems. "The company's core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
AFS products are multilingual mul·ti·lin·gual adj. 1. Of, including, or expressed in several languages: a multilingual dictionary. 2. , multicurrency, real-time and include a range of advisory and outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. capabilities that enable the management of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. organizations to create greater enterprise value. AFS services and solutions are effective in mitigating both credit and operational risks with systems and solutions that are fully integrated, scalable and achieve economies of scale in short time periods. About AFS Automated Financial Systems, Inc. provides asset and liability products and services as an Application Service Provider (ASP) delivery through its fully integrated e-business model AFSCommerce(TM). 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. AFS is the only business partner willing to use its capital and technology to guarantee accretive earnings within each client's business model, both short and long-term creating a no-risk solution. The firm has headquarters in Exton, Pennsylvania Exton is a census-designated place (CDP) in West Whiteland Township, Chester County, Pennsylvania, United States. The population was 4,267 at the 2000 census. The Exton Square Mall is located within Exton. Transportation Exton lies at the intersection of the U.S. and internationally in Cambridge, England. For more information go to http://www.afsvision.com. |
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