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EFGO [ Esprit Financial Group, Inc ]
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[QUOTE]Originally posted by BooDog: [QB] Esprit Financial Group Inc. (Esprit) (EFGO.PK) to Integrate Lexis Nexis ID Verification And Risk View Scoring Solution Thursday May 10, 6:00 am ET LAS VEGAS, NV, May 10 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) [URL=http://www.espritfinancialgroup.com]www.espritfinancialgroup.com[/URL] is pleased to announce Esprit's payday loan software division Cash Now is integrating Lexis Nexis ID Verification and risk view scoring solution in the company's next generation of E5 Payday Software Platform scheduled for release later in 2007. Mr. Garr Winters, Esprit's CEO said, "Some who do not fully understand the operational aspects of our business may underestimate the significance of this strategic alliance. However, competitors in the payday loan software and sub-prime business lending industry itself will fully understand the importance. Cash Now licensees will now have access to the most comprehensive credit scoring facility within the industry, and a competitive advantage over other payday loan lenders." The software provided by Lexis Nexis will integrate into Esprit's E5 software system and allow the licensee to conduct both ID Verification and to view the risk in an easy to understand scoring table. Mr. Winters added, "We are extremely excited about this integration and we can see great benefits to our licensees and we can see this solution assisting our sales team in generating more sales." As many as 50 million Americans aren't covered by traditional credit scoring methods such as FICO and credit bureaus. These are disproportionately over-represented in the sub-prime financial services sector. Now, there's a fast, easy way for Cash Now licensees to assess their credit risk. LexisNexis® RiskView(TM) is a powerful new tool that uses public records and non-traditional data in order to create a score for consumers and businesses that have been deemed "thin file" or "no hit" by traditional bureaus. Mr. Winters goes on to note, "We believe we can extend our relationship with Lexis Nexis into our Structured Debt Resolution division. This will provide lending institutions a non-confrontational environment within which to deal with high risk debt holders, while simultaneously providing a rich data set of information regarding the credit risk associated with those applying to a resolution plan to manage their debt. About Lexis Nexis LexisNexis® is a leading provider of comprehensive information and business solutions to professionals in a variety of areas - legal, risk management, corporate, government, law enforcement, accounting and academic. The Company provides access to 5 billion searchable documents from more than 32,000 legal, news and business sources. Corporations and legal professionals can also manage, organize and integrate their work processes using our unique set of solutions. About Esprit Financial Group Inc. Esprit Financial Group Inc. (d.b.a. Cash Now) is a public company engaged in a diversified number of online financial services. PayDay Loans: The Company is a pioneer in the payday loan industry, and continues to develop the most comprehensive menu of services in the cash advance industry and will retain the Cash Now brand for many of these services. Operations include licensing of a comprehensive suite of Internet-based payday loan and check cashing software and private label back end office systems for the sub prime market, under the Cash Now banner [URL=http://www.cashnow.org.]www.cashnow.org.[/URL] The Company also operates [URL=http://www.cashnow.net,]www.cashnow.net,[/URL] which generates leads of consumers looking for payday loans on behalf of our licensees. The company's proven business model comprises operations in the U.S. and Canadian markets as well as several foreign markets. Additionally, the Company's website is the most advanced payday-lending portal, offering key insight to clients and potential clients alike. Forex: Additionally, the Company's Forex Trading division offers an innovative low-cost online Forex trading service at [URL=http://www.cashnow.com.]www.cashnow.com.[/URL] The Company acts as an Introducing Broker for Advanced Markets, Inc., and is targeted to serious day traders. All transactions are handled on a streaming pass-through basis. There is no trading desk, and no manipulation of quotes that lag the actual interbank market. Importantly, traders can continue to trade actively even during volatile periods that result from major news events of publishing of market reports. Advanced Electronic Funds Management: The Company's Advanced Electronic Funds Management (AEFM) division offers Cash Now Check 21 - an advanced checking clearing service that can significantly reduce holdback periods by banking institutions, particularly valuable for international markets. Its EM2 (Electronic Money Management System) product is a comprehensive e-wallet capable of managing multiple bank accounts, remitting funds worldwide and provide banking capabilities to consumers without requiring that they have a bank account. Structured Debt Resolution: This division will offer services that allow banks, financial institutions and other creditors to invite defaulted clients to negotiate a settlement online, in a neutral and non-confrontational manner, bypassing traditional collection calls and mail delivered notices of default. [/QB][/QUOTE]
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