Zoot Enterprises Reports on 2011 Achievements

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Company earns industry recognition, launches new solution, adds new business partnerships.

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Our clients are investing in technology that gives them the tools to increase their efficiency, with the flexibility to adapt and innovate in a new financial landscape.

Zoot, a leading provider of advanced instant credit decisioning and loan origination solutions, today announced several achievements in 2011. The company was recognized for its real-time sophisticated risk and marketing decisioning analytics by CEB TowerGroup, launched a new solution to enhance demand deposit account (DDA) opening for banks and expanded our market presence via new client relationships, international growth and strategic business partnerships.

In October of 2011, CEB TowerGroup released a research report titled “Technology Solutions to Manage Instant Credit Card Decisions and Improve Customer Acquisition & Retention”. The report states that to succeed in this fast-paced split-second decisioning business environment requires sophisticated technology solutions. Instant decisioning, credit risk management and the ability to optimize for product selection and credit line are identified as key elements that technology solutions need to have the capacity to support. Zoot is one of five leading technology companies with these capabilities.

Zoot also launched zInitiate℠ account opening solution. The solution is designed to address the changing retail demand deposit landscape and give banks new options for the most effective, profitable demand deposit account (DDA) opening. zInitiate leads the next generation of account opening solutions by facilitating instant DDA decisioning at a lower cost while also prescreening customers for deposit and credit cross-sell offers. The solution integrates the necessary data types to efficiently support traditional DDA opening (closed for cause, fraud, KYC and OFAC), in addition to using bureaus and alternative data providers to optimize the evaluation of consumers, including those with limited credit history.

Zoot formed additional business partnerships in 2011 that expand the company’s reach into new markets. The partnerships enable Zoot to reach more financial institutions and retailers and create a comprehensive, more robust set of solutions through combined capabilities. These strategic relationships include First Data Corporation, IDAnalytics and LexisNexis.

Additionally, the company achieved PCI Level 1 certification, SSAE16/SOC1, ISAE3402 international certification and SAP certified integration for Zoot’s LogicLink℠ ERP Adaptor 1.0. Zoot expanded its presence internationally in Central America and Europe and added 11 new clients including; global auto lenders, Fortune 500 retailers, a top 10 bank and a leader in online global payments. Uptime for Zoot’s core systems exceeded 99.999 percent.

“During the economic downturn Zoot continued to add new clients and additional technology platforms for existing clients. We saw the industry shift toward getting back to basics, with a heavy focus on regulatory compliance and mitigating risk,” said Dennis Dixon, president of Zoot Enterprises. “As the economy recovers we are seeing a greater emphasis on increased lending and portfolio growth, for example a rise in private label credit cards. Our clients are investing in technology that gives them the tools to increase their efficiency, with the flexibility to adapt and innovate in a new financial landscape.”

About Zoot
Bozeman, Mont.-based Zoot Enterprises, Inc. provides comprehensive credit decisioning, loan origination and credit risk management solutions to enable clients’ unique business objectives, leading to long-term relationships with top U.S. and international financial institutions. Zoot’s rapid, high-volume processing environment has the capacity to process billions of transactions per year. Visit http://www.zootweb.com or call 406.556.7555 for more information. Zoot thought leaders are now featured on zootweb.com/blog.

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Karen Gordon
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