Well I'm hoping for big things now. Rick Segal may be the right man to carry Microforum forward.
Ford Credit Licenses Microforum's CALMS(TM) Solution for Global Credit Initiative in Latin America
TORONTO, Nov. 6 /CNW/ - Microforum Inc. (TSE:MCF) today announced that it
has completed a contract with Ford Credit to incorporate Microforum's
proprietary CALMS(TM) technology into its latest online e-commerce initiative.
For competitive reasons, details are not to be disclosed at this time.
Ford Credit, the world's largest automotive finance company, will use the
CALMS(TM) technology for its global credit initiative in Latin America, which
includes Mexico, Argentina, Brazil and Chile. Ford and Microforum are
currently exploring the possibility of expansion into other regions.
CALMS(TM) allows a vendor to enter a credit application, submit it for
approval, and complete the documentation online all in a seamless environment
through the Internet. The CALMS(TM) system is a web-enabled credit origination
solution that exists online with various distribution channels, allowing
potential purchasers to go from rapid credit check to vendor payment, with
actual credit scoring taking approximately 15 seconds.
"This latest Ford contract is a terrific achievement for Microforum. We
are obviously extremely pleased that Ford has once again shown confidence in
our ability to deliver effective and efficient e-business solutions," said
Rick Segal, President and Chief Executive Officer of Microforum. "Our
proprietary CALMS(TM) platform will provide Ford Credit with a multiple
language and multiple currency Application Service Provider model, where each
country will be able to customize the platform to meet their unique cultural
nuances and business needs."
About Ford Credit
Ford Credit is a wholly-owned subsidiary of Ford Motor Company and is the
world's largest automotive finance company. Now in its 41st year, Ford Credit
provides vehicle financing in 40 countries to more than 10 million customers
and more than 11,500 automotive dealers. Ford Credit had total earnings of
$1.3 billion in 1999, with a worldwide receivables base of more than $155
billion. More information about Ford Credit can be found on the World Wide Web
at www.fordcredit.com.
About Microforum
Microforum develops Internet-based software products for E-Business, E-
Financial and Knowledge Management applications, allowing its clients to
improve operational efficiencies and reduce business costs. Toronto-based
Microforum has offices in Halifax, Vancouver, New York and Seattle. Microforum
is listed on The Toronto Stock Exchange (TSE: MCF). For more information,
please visit www.microforum.com.
Forward-Looking Statements
Investors should take note that certain statements in this press release
are forward-looking and may not give full weight to all of the potential risks
and uncertainties. These forward-looking statements include statements that
are subject to risks and uncertainties. Forward-looking statements are subject
by their nature to risks and uncertainties, and actual results, actions or
events could differ materially from those set forth in the forward-looking
statements. Any forward-looking statements speak only as of the date made. The
Company is not undertaking to update any information in the foregoing reports
until the effective date of its future reports required by the securities
laws.
%SEDAR: 00004370E
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For further information: INVESTOR INFORMATION, Warren Weeks, GPC Canada,
(416) 598-0055 (ext. 308), wweeks@gpc.ca; CORPORATE INFORMATION, Rick
Segal, President and CEO, Microforum Inc., (416) 467-4000, info@mf.com
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