OLYMPIA, Wash., Sept. 29, 2004 (PRIMEZONE) -- ET Financial Services announced today the initial price points for client bank access to OSCAR, ET's unique combination of technology and business processes that enables community and mid-sized banks to profitably originate and service consumer loans.
"The market reaction to OSCAR has been every bit as strong as we expected," said Brian Cregg, Vice President -- Marketing of ET Financial Services. "Banks across the country are very enthusiastic about gaining or regaining the ability to offer their consumer customers world-class service, fast decisioning and tailor-made pricing."
"Our price package is designed to drive value and encourage usage," added R. W. Christensen, Jr., President of ET. "With a private label branding and access fee as low as $50,000 for larger banks, ET sets an easy threshold for bank profitability. Because ET provides a complete solution for consumer loans -- OSCAR includes originations, servicing, collections and reporting -- banks save hundreds of thousands of dollars with ET. And they improve customer service at the same time. Our goal is to increase a bank's volumes and margins, and lower risks and portfolio volatility. All at the same time."
"We continue to pay special attention to the smaller banks, as well," added Cregg. "We offer banks with less than $500 million in assets a substantial reduction in the access fee. We want to encourage a vibrant community bank market."
About Enhanced Technology Financial Services, Inc.
ET Originates, Services, Collects and Reports on private label consumer loans for community and mid-sized banks using its proprietary OSCAR system and team. By combining ET's risk-related pricing and best-in-industry servicing, ET's client banks generate higher margins and more volume with lower risk and less volatility, simultaneously. The Washington Independent Community Bankers Association recently endorsed ET to its member banks. ET is headquartered in Olympia, Washington and markets its services to banks with assets up to $20 billion.