July 2002 Building on a decade of leadership in small business financing innovation, Fair, Isaac and Company, Incorporated announced that Seattle-based CapitalStream, a provider of business credit automation technology, has been chosen as its preferred partner in bringing faster, more efficient leasing solutions to key segments of the commercial finance industry. Together, Fair, Isaac and CapitalStream have leveraged their assets in finance and leasing, respectively, to provide a Web-enabled solution called CapitalStream-FinanceCenter™. This new offering is intended for organizations that lease vehicles and equipment to small business customers, as well as for a number of small business lenders.
The service will allow clients to originate credit applications online, and then initially screen the applications for credit worthiness before an underwriter processes it.
The new process will eliminate duplicate data entry and reduce by 90 percent the time it takes to identify applications that will be declined. CapitalStream – FinanceCenter integrates Fair, Isaac’s LiquidCredit® decision technology, including the newly released 5.0 version of the Small Business Scoring ServiceSM (SBSSSM) leasing analytic models, and CapitalStream’s credit origination and workflow automation engines, in a single solution. The new service will deliver real-time decisioning and scoring capability that results in improved workflow, smarter credit decisions and greater flexibility and efficiency for leasing and lending organizations. Fair, Isaac’s partnership with CapitalStream is part of Fair, Isaac’s current initiative to develop best-of-breed solutions for the commercial finance industry.
"By combining Fair, Isaac’s advanced analytics and decision technology with CapitalStream’s flexible technology platform, we are able to provide commercial leasing and lending organizations with a highly reliable and efficient credit origination and processing solution that places us at the forefront of commercial finance automation," said Raffi Kassarjian, vice president and general manager of Fair, Isaac’s LiquidCredit business unit.
Jeffrey Dirks, president and COO of CapitalStream added, "By working together on CapitalStream – FinanceCenter, Fair, Isaac and CapitalStream add significant value at all points in the origination, decision, workflow chain of small business leasing and lending organizations. This is a high-value strategic proposition and one that we are confident will establish a new standard for these segments of the commercial finance industry."
Fair, Isaac is widely recognized in the global financial services industry for its deep knowledge and expertise in developing advanced analytics and decision technologies that address that industry’s most vital issues. Powered by Fair, Isaac’s analytics and decision technology, LiquidCredit is a Web-based credit decisioning solution that enables credit grantors to offer instant credit and greater purchasing power at the point of customer contact. Over the last decade, Fair, Isaac has led the development of the small business lending market through its Small Business Scoring Service, a system that marries software and predictive models to improve small business underwriting decisions.
CapitalStream is a recognized leader in the area of commercial leasing, and as such, markets the industry-standard solution for credit origination and workflow automation. CapitalStream – FinanceCenter is a multi-channel solution, enabling enhanced workflow regardless of where an account originates. This is especially critical in the commercial leasing industry because of the fragmented nature of account origination sources. In addition, CapitalStream is highly regarded for its ability to create fast, customized solutions that meet specific, unique client needs.
About Fair, Isaac
Fair, Isaac and Company is the preeminent provider of creative analytics that unlock value for people, businesses and industries. The company’s predictive modeling, decision analysis, intelligence management and decision engine systems power more than 14 billion decisions a year. Founded in 1956, Fair, Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, increase customer value, reduce risk and credit losses, lower operating expenses and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair, Isaac’s analytic solutions, as do insurers, retailers, telecommunications providers and other customer-oriented companies. Through the www.myfico.com Web site, consumers use the company’s FICO® scores, the standard measure of credit risk, to manage their financial health. Headquartered in San Rafael, California, Fair, Isaac is traded on the New York Stock Exchange (NYSE:FIC) and for the fiscal year ended September 30, 2001, reported net income of $46 million on revenues of $329 million. For more information, visit www.fairisaac.com. About CapitalStream
Seattle-based CapitalStream delivers business credit automation solutions for the financial services industry. CapitalStream’s FinanceCenter™, a patent pending technology platform provides tools to better manage credit risk, reduce costs, and attract new business by automating manual processes for leases, loans, lines and cards. CapitalStream, an established industry leader, has helped hundreds of financial organizations increase their competitiveness, customer service and profitability.
For more information about CapitalStream visit www.capitalstream.com or email us at info@CapitalStream.com. |
