Re:AFFI--Positive outlook may give some life to AFFI and hope to shareholders. TA shows that AFFI is at bottom, and IMO, isn't that where you want to buy them? After doing DD on AFFI, consider this recent article (via Yahoo thread):
Aug 16 Article in American Banker
by: mark1mod0 3118 of 3126
Boost for Affinity: AMS Licenses Decision System ( American Banker )
SECTION: Technology
Affinity Technology Group may be on the comeback trail.
The Columbia, S.C., company, a pioneer of quick-decision consumer loan kiosks, has licensed its patented technology to American Management Systems Inc. for at least $1 million. Additional licensing fees are likely as AMS customers buy the technology.
The patent covers automated credit decisions made when consumers enter information into a network, such as the Internet. It was granted in September and looms large in Affinity's attempt to
reverse a precitious decline in Affinity's revenue and stock price since the initial public offering in April 1996.
With 32 million shares outstanding, the stock closed Friday at 87.5 cents, a far cry from its initial offering price of $13 and the record $24.25 set soon after the IPO.
Sandy Devine, who leads AMS' consumer financial services practice, said Affinity's patent really affects any organization that does lending on the Internet.
We felt a prudent course of action for us would be to provide access to this patent to our clients, said Ms. Devine, a vice president.
AMS, based in Fairfax, Va., is a software developer and systems
integrator whose customers include the 100 largest banks in North America.
Among its products is Strata, which helps banks make credit decisions over the Web; and the Automated Credit Application Processing System for high-volume lenders.
Affinity's patent was needed so that ACAPS users could extend their lending business to the Internet, Ms. Devine said. The patent covers automated credit decisions, in which consumers enter information through the Internet and other networks.
Murray Smith, president and chief executive officer of Affinity, said the
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Posted: 08/15/1999 02:36 pm EDT as a reply to: Msg 3117 by dkk69
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