AFFI Message Board - Msg: 6759528

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Technology Stocks : AFFI

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To: jsavage who wrote (192)	12/9/1998 3:24:00 PM
From: jsavage	Read Replies (1) of 330

Here's an addition to my previous...... Patent expected for automated loan process Affinity Technology Group Inc. (AFFI) said it received a notice of allowance from the U.S. Patent and Trademark Office for a patent on a system real-time loan approval over a computer network without any human intervention, other than the applicant's. "The use of automated systems for decision making will make it possible to execute loan transactions online," said Murray Smith, Affinity's president. "We believe this patent will provide Affinity an ownership claim on fully automated lending through the Internet and other electronic communication networks," he added. Affinity has contracts with Citibank and The Dime savings Bank and develops technology to enable financial institutions to automate lending processes.

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