Zoot White Paper Provides Industry Insight to Instant Prescreen Capabilities

Offers strategy to acquire and retain qualified customers in a challenging market

April 7, 2008

BOZEMAN, Mont— Zoot, a leading provider of advanced instant credit decisioning and loan origination solutions based in Bozeman, Mont., announced today the release of a white paper titled, “Operational Excellence: The Prescreen Revolution.”
Analyst firm TowerGroup predicts that in response to market changes, lenders in 2008 will need to reform every aspect of their credit operations, including the adoption of more innovative business strategies. Zoot’s white paper introduces new approaches for selling more credit products in today’s volatile market. The ability for financial institutions to instantly prescreen consumers for additional credit products, and offer those products in realtime, could revolutionize the way institutions acquire new and service existing customers.
The white paper offers insight into instant prescreen as a viable strategy for increasing acceptance rates of credit products. Most traditional acquisition strategies, such as direct mail prescreen, require large financial investments and are increasingly ineffective and inefficient. A solution that capitalizes on an institution’s existing customer base is necessary, and having the technology to support this is critical to the success of the institution in 2008 and beyond.
“Zoot’s instant prescreen solution, Prescreen-of-One, has allowed financial institutions to consistently achieve acceptance rates around 20 percent, which is 40 times higher or nearly a 4,000 percent increase in the typical response rates for direct mail in any industry. The cost of implementing instant prescreen is more than offset by the additional revenue that it drives, making the ROI tangible within months,” stated Tom Johnson, vice president of product development at Zoot.

The implementations of instant prescreen are as varied as the number of products and customer contact points at a financial institution. After the solution is implemented, the financial institution’s business users can rapidly create, change and modify the business rules, processes, and attributes of their instant prescreen platform.
Additionally, instant prescreen enables financial institutions to create new business development opportunities with affiliates and third parties.

Download the white paper by visiting http://zootweb.com/press_newsletter.php.

About Zoot
Bozeman, Mont.-based Zoot Enterprises provides credit decisioning and loan origination solutions through a configurable, scalable and reliable platform to large and innovative U.S. financial services institutions. Visit http://www.zootweb.com or call 406.556.7555 for more information.

Editors Note: In 2007, Zoot Enterprises processed more than 240 million transactions, which is nearly 660,000 transactions per day. More than 98 percent of these transactions were processed in less than 2 seconds. Additionally, during the past five years, the company has averaged 99.99 percent uptime in its core environment.

# # # #