Zoot Enterprises Reports Record Client Growth in 2008
Company has successful year despite turbulent economy.
February 25, 2009
Bozeman, Mont– Zoot, a leading provider of advanced instant credit decisioning and loan origination solutions,announced record client growth in 2008. Despite economic turmoil in the financial industry, the privately held company continues to expand its client list and remains strong financially.
In 2008 the company’s client roster increased by nearly 30 percent. Zoot’s new customers include Daimler Financial Services, First Hawaiian Bank, a top- 20, and two top-10 U.S. banks.
“The ability to provide a positive return on technology investments is increasingly important when times are tough. Zoot’s solutions enable our clients to achieve significant efficiencies through automation, while managing credit risk effectively,” said Dennis Dixon, president of Zoot. “Even with the economic recession and extreme turmoil within the financial services space, it’s not all gloom and doom, as witnessed by our company’s client growth.”
“In today’s economy it is important to not only protect our company from risk but also be able to serve our customers well,” said Steve Hathaway, senior manager risk instruments, Daimler Financial Services. “Zoot’s tools give us the ability to configure our solutions to meet any situation and make real-time changes to our credit policies. As the market changes, so can we, without impacting our ability to efficiently serve our dealers and their retail customers.”
Rene Inafuku, assistant vice president, First Hawaiian Bank Retail Credit Products Center, states, "Working collaboratively with Zoot we were able to combine their expertise with our business ideas to create a system that is very flexible and more cost efficient."
Additionally, Zoot activated a third data center in Salt Lake City, Utah. Zoot established the Tier 4 data center to enhance service to its clients by expanding the distributed processing approach while maintaining a high level of security. The new location creates a broader connection to the telecommunications grid, provides a higher level of redundancy and is extremely energy efficient.
Zoot was also named the 2008 Business of the Year by Prospera Business Network. The award recognized the company’s record of success as a leader in the financial services industry and for its many generous contributions to the Gallatin Valley community. The award is presented each year to a local business that provides a positive impact to the economic development of the area.
“Zoot is entering its 19th year in business and 2009 is already shaping up to be a great one. We recently signed a contract with a top retailer to replace their credit card decisioning and loan origination solutions,” said Chris Nelson, founder and CEO of Zoot. “The economic crisis has driven interest in Zoot’s tools that enable effective development and testing of new risk policy, showing a strong market need for speed, ease and accuracy when managing credit risk. We’re looking forward to taking our expertise on the road through our Executive Forum events in Cleveland and Minneapolis during the second and third quarters of 2009.”
Designed for high performance, Zoot’s hosted environment consistently processed nearly 550,000 transactions per day, totaling more than 200 million in 2008. During the past five years, the company has averaged 99.99 percent uptime in its core environment, reaching 99.996 in 2008.
Zoot is SAS-70 Type 1 and Type 2 compliant, and Zoot’s Chief Technology Officer Tony Rosanova serves as a member of the service provider working group for the BITS Financial Services Roundtable. Zoot maintained PCI certification in 2008 in response to the Payment Card Industry Data Security Standard (PCI DSS).
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.
Editor's Note:
A Tier 4 data center is considered the most robust in the industry with the lowest possibility of failures. Tier 4 centers are designed to host mission critical servers and computer systems, with fully redundant subsystems (cooling, power, network links, storage, etc.) and compartmentalized security zones controlled by biometric access controls methods.
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