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Frequently Asked Questions (FAQs)

 

What does Zoot do?
Who are Zoot Enterprises' clients?
Can the system support scorecards?
Can Zoot do risk-based pricing?
Does Zoot develop scorecards or risk-based pricing models?
Can the Zoot system support champion/challenger analysis?
Are there standard attributes for decisioning? Can I use custom attributes?
How long will it take to install a credit decisioning system?
How long will it take to install the KairosSM loan origination system?
What is Zoot's performance? How long does each transaction take?
Does Zoot only offer solutions through its hosted environment?
What makes Zoot distributed network unique? How scalable is Zoot?

What types of network connection does Zoot support?
What is Zoot's preferred network connection methodology?
Can Zoot interface with my system, my LOS, my mainframe, and all of my vendors?
Can Zoot do cross-sell applications?
How often does Zoot release new versions of its software?
How does Zoot charge for its services?
What kind of reporting is available?
What training opportunities does Zoot offer? Is there a charge for training?
Is Zoot Enterprises a public company? Can I buy stock? When is the IPO?
How many employees does Zoot have? Is Zoot hiring?
Why is Zoot Enterprises located in Bozeman, Montana?

What does Zoot do?
Zoot's core expertise is providing a secure, realtime, transaction-processing environment. We offer several services within that environment to our clients. Our decisioning products offer instant credit decisions for financial institutions based on data from any number of traditional and non-traditional sources. Our financial services offer complete processing of consumer and business credit requests from the initial application through the final booking. Zoot's vendor network facilitates communication between our clients and dozens of with the major third-party data providers and services.

Who are Zoot Enterprises' clients?
We help a wide range of organizations improve their bottom line with our realtime transaction-processing capabilities. Our primary clients are large financial institutions, including 3 of the top 5 U.S. banks. We also support credit unions, Internet aggregators, credit card merchants, auto dealers, insurance companies, and government agencies.

Can the system support scorecards?
Yes. Zoot supports scorecards ranging from simple two-dimensional matrices to the nation's most complex scorecards, including custom FICO score implementations. Exclusionary criteria, waterfall or cascading decisions, and matrix scorecards can all be implemented in our custom applications. Even our entry-level products offer fully customizable matrix decisions.

Can Zoot do risk-based pricing?
Yes. Risk-based pricing can be incorporated into scorecards or more complex models. Our environment was designed to provide maximum flexibility for our clients. Zoot has been able to implement every model used by the nation's leading financial institutions. We believe the system can support every pricing and decisioning model.

Does Zoot develop scorecards or risk-based pricing models?
No. We help institutions implement their models and provide tools to help them develop and evaluate models more effectively, but Zoot does not develop models on behalf of our clients.

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Can the Zoot system support champion-challenger analysis?
Yes. Champion/challenger offers the ability to compare proposed models against an existing data set to evaluate the statistical reliability and error of each model. Zoot offers both standalone and integrated champion/challenger options.

Are there standard attributes for decisioning? Can I use custom attributes?
Zoot has developed the Zoot Credit Characteristics™ (ZCC™) library to provide an easily maintained and consistent set of attributes for clients seeking industry-standard definitions. Nearly every commonly used attribute is maintained within ZCC for all three consumer credit bureaus. Changes in bureau versions are managed by Zoot and tested thoroughly before implementation. Zoot is also able to program custom attributes of any type or design to meet your organization's unique credit requirements.

How long will it take to install a credit decisioning system?
A highly complex application with custom scoring, custom attributes, advanced network requirements, and custom system-to-system interfaces can require three to nine months.

How long will it take to install the KairosSM loan origination system?
Currently, we estimate six to nine months for most installations. Highly complex configurations, or those with extensive custom interfaces may require longer to implement.

What is Zoot's performance? How long does a transaction actually take?
Like so many things, it depends. Our average decision time for a credit decision through our SPOC® decision engine is 0.217 seconds — this includes all applications, including our most complex decisions. Our average time for a decision, including pulling a credit report from a bureau, is 2.907 seconds. Transactions through the loan origination system will require longer because of the level of human interaction required to complete the transaction. The time required for a complete credit card transaction, from application to booking, excluding the time for keystrokes, is about 49 seconds. A home equity application from application to booking (including credit scoring, automated appraisal, and documents, but excluding data entry time) is about 260 seconds.

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Does Zoot only offer solutions through its hosted environment?
No, although most of our clients find that the redundancy, reliability, and connectivity in our hosted environment make it their first choice. Most of Zoot's solutions can be offered in a licensed format to be run on house systems.

What makes Zoot's distributed network unique? How scalable is Zoot?
Zoot's distributed network is designed to meet three primary goals: 1) be highly reliable, 2) be very scalable, and 3) allow rapid enhancements without interruption. It accomplishes these goals through a unique and proprietary model. All network tasks are created as standalone modules that can be run on any number of servers. The workload is then distributed automatically between all servers supporting that service. If any server should become unresponsive, it is automatically disabled. Scalability is handled by simply adding additional inexpensive servers to the array (similar to the RAID approach used for hard disks in production servers). As a result of this design, Zoot can add capacity to the network realtime without interruption to production processing.

What types of network connection does Zoot support?
Zoot supports a wide range of network types and can be very flexible in facilitating your connection. We support a nationwide VPN, a nationwide frame relay network, dedicated line connections (56Kb to DS-3), public Internet with encryption, and public Internet with VPN. Our network supports a range of transport technologies, including TCP/IP and SNA. Application-level communications may be via web browser, system-to-system communications, file transfer or queuing. Outbound communications may also be sent by email or fax.

What is Zoot's preferred network connection methodology?
We have found the best performance, most reasonable startup and support costs, and easiest adoption is achieved with an open design based on Internet technologies. The most common configuration would be a browser-based application, communicating with TCP-IP over a persistent frame relay connection.

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Can Zoot interface with my system, my LOS, my mainframe, and all of my vendors?
Yes. From the beginning, Zoot has specialized in creating custom interfaces. We have built interfaces to more than 75 systems of record and dozens of data providers.

Can Zoot do cross-sell applications?
Yes. All of our solutions can support cross-sell, up-sell, down-sell, and any other model you can develop. We have cross-sell experts on staff that can help you develop a company-wide approach to cross-sell.

How often does Zoot release new versions of its software?
Product release schedules are established for each class of software at Zoot. The timing varies from every three months for new and evolving products to annual releases for mature products. Releases of client enhancements and custom applications are made much more frequently.

How does Zoot charge for its services?
Pricing is based on several components. First, the set up includes customization and configuration for your unique installation needs. Standard templates have a minimal set up change, so pricing will vary according to your requirements. Second, transaction pricing for each application processed covers the costs of supporting and maintaining our environment. Third, some platforms require an annual maintenance fee to cover the cost of adding new capabilities into the system. Finally, exceptional support requirements that fall outside of our standard support will incur an additional charge.

What kind of reporting is available?
Zoot offers a wide variety of reporting capabilities for the various components of our custom applications. We utilize Seagate, Info, and Crystal Reports to produce custom reports from our decisioning and LOS environments. The most common reports are summaries of transactions by decision, branch, score, source, and decline reason.

Web application users have several WebTrends reporting options available. Our most advanced web-reporting option provides detailed information on all data captured in the server logs.

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What training opportunities does Zoot offer? Is there a charge for training?
Training is available for all of Zoot's products. Most products can be effectively implemented with just the documentation or minimal training. We offer full training for all company-internal administrators, and we can set up end-user training courses if necessary. We encourage a "train-the-trainer" methodology, where one or more of your staff is able to train other users in your organization. Initial training and materials are included in base pricing for most products. User manuals and training guides are available for all applications. Advanced training is billable and refresher courses can be scheduled on an as-needed basis.

Is Zoot Enterprises a public company? Can I buy stock? When is the IPO?
Zoot is privately held. We have no plans for going public in the near future, but remain open to the idea that it might be appropriate someday. There is an employee stock ownership program, but Zoot stock is not available for public sale or purchase. We are not seeking any investors or venture capital at this time. There is no annual report or public financial disclosure available.

How many employees does Zoot have? Is Zoot hiring?
Naturally, the number of employees is always changing due to attrition and growth. If you are interested in employment, please visit our careers page. We do not have a formal internship program at this time, but do occasionally hire interns if we have a specific project or need. If you are interested in an internship, please visit our careers page and submit an application.

Why is Zoot Enterprises located in Bozeman, Montana?
Chris Nelson, Zoot's founder and CEO, was born in Billings, Montana and spent most of his work life in Montana before founding Zoot in 1990. Today, the majority of Zoot's employees are graduates of Montana universities. We have found the work ethic, education, and creativity of our Montana workers second to none. Besides, how can you beat living in the Rocky Mountains with all of the beauty and recreation that is available here?

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