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FOR IMMEDIATE RELEASE
Contact: Joe Boyle
Chief Executive Officer
803-758-2528
AFFINTY LAUNCHES HOME
EQUITY PRODUCTS
Products Deliver
Immediate Decisions to Consumers in Real-Time
Columbia, SC, May 2, 2000
- Affinity Technology Group, Inc. [NASDAQ: AFFI] today launched
its Home Equity and Home Equity Line of Credit automated lending
products. Both products are designed for implementation in either
an Internet or traditional back office environment. The products
are integrated with Affinity's patented Decisys/RT closed loop decisioning
system and are available through Affinity's e-xpertLender and rtDS
licensed products and services.
"Although most lending institutions are
allowing consumers to submit credit applications over the Internet,
our products will allow our customers to offer home equity products
in real-time with immediate decisioning to consumers, both on the
Internet and in traditional origination environments – that’s a
true advantage, to both the lending institution and the consumer,"
said John Rogers, Senior Vice President.
Affinity's technology enables financial institutions
to link their branches, call centers, Internet customers, and indirect
agents electronically to their credit departments, providing fully
automated lending - and, if necessary, connectivity to a loan officer
- through every channel. For financial institutions, Affinity's
solutions expedite loan decisioning and processing and increase
productivity and capacity of branch personnel, call center agents,
loan officers, and indirect agents, while improving the overall
customer experience. Affinity is located on the World Wide Web at
www.affi.net.
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Forward-looking statements in this news
release, including statements regarding the Company’s products and
services are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Investors are
cautioned that forward-looking statements involve risks and uncertainties,
including those related to general economic conditions, delays and
risks associated with the development of new technologies, consumer
and industry acceptance of automated delivery channels, and regulatory
risks, that may cause actual results to differ materially from those
projected.
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