TRM 3Q/99

TRM Corporation TRM Corporation announces its performance for the fiscal period ending September 30, 1999. Gross revenue for the quarter increased to $16.3 million from $15.8 million in the third quarter of 1998. Earnings before interest, taxes and depreciation increased 17% to $2.8 million from $2.3 for the same period the prior year. Net income, before the preferred dividend, was $206 thousand as compared with $484 thousand for the same period last year resulting in fully-diluted earnings per share, after the dividend, of -$0.02 as compared with $0.01 for the same period last year.

The Company successfully increased the expansion rate of its ATM operations during the third quarter, ending the period with 292 units deployed on September 30, 1999, a 107% increase in units over the previous quarter. In addition, TRM established itself as the first non-bank deployer of ATMs to significantly operate in both the United States and Europe having deployed units in the United Kingdom during the period. “We are very excited and optimistic about our ATM expansion, especially in Europe where the Company has a sizable infrastructure supporting over 8,000 CopyCenter placements in retail locations,” stated Fred Stockton, CEO and President. ATM operations revenue significantly increased 166% to $502 thousand as compared with $189 thousand in the previous quarter. Although the ATM business generated a net loss of $258 thousand during the quarter, the loss was as planned and primarily related to investment in the expansion of the business and the acceleration of machine roll-outs. TRM ended the quarter with an order backlog for new ATM sites in excess of 600 locations primarily in the United States.

The TRM CopyCenter business continues its healthy, strong cashflow as the NextGen(TM) unit replacement and optimization program has been completed resulting in labor cost savings and creating operating efficiencies. The CopyCenter operations generated $90 thousand of net income or $0.01 fully-diluted earnings per share after the preferred dividend for the quarter ended September 30, 1999 as compared with $81 thousand and $0.01 for the same period last year despite: 1) a $535 thousand increase in depreciation expense, 2) a 4% increase in retail sales discounts necessary to incent retailers to sign longer-term contracts (i.e. 3-5 year photocopy service agreements) and 3) non-recurring interest income of $235 thousand generated from the investment of the proceeds from the preferred stock offering realized in the same period last year but unavailable this period. As of September 30, 1999, 32,638 TRM CopyCenter locations were installed in North America and Europe.

Mr. Stockton noted, “With the operational changes in place to insure the continued growth and health of our CopyCenter business, we are poised to aggressively expand our ATM operations. We believe the tremendous opportunity to develop a global distribution network of connected ATMs through which not only cash but numerous other services and products may be delivered will enable TRM to truly become a rapidly growing enterprise.”

For more details on TRM’s 3Q/99 visit CardData ([www.carddata.com][1])

[1]: http://www.carddata.com

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Cap One Hires HR VP

Tim McGough, formerly Managing Partners of Hewitt associates (a management consultant firm) , joined Capital One as Vice president of Human Resources . Mr. McGough will be responsible for managing Capital One’s compensation, benefits and human resources payroll and information systems. Dennis Liberson , Capital One’s Senior Vice President for Human Resources said, ‘At Capital One we recognize that to create a world-class organization, we need a world-class human resources team. The human resources department enables Capital One to continue recruiting and retaining the high calibar of associates we employ around the world. We’re pleased that Tim joined our team and we’re excited about the knowledge and experience he will bring to our fast paced organization’.

Capital One is ranked by Fortune magazine as the 41st best place to work in the country. Capital One credits its innovative and groundbreaking human resource strategies for propelling it as a leading employer. Among the program that differentiate the company from other employers are the associate selection process ; a number of ongoing training and development courses ; outstanding benefits, including three weeks vacation ; and performance-based compensation.

Headquartered in Fall Church , Virginia , Capital One Financial Corporation (www.capitalone.com) is a holding company whose principal whose principal subsidiaries, Capital One Bank and Capital One, F.S.B., offer financial products and services to consumers. Capital one’s subsidiaries collectively had 20.8 million customers and $18.5 billion in managed loans outstanding at September 30, 1999, and are among the largest providers of MasterCard and Visa credit cards in the World. Capital One is listed on the New York Stock Exchange under the ticker symbol ‘COF’.

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StarMedia Prefers VISA

StarMedia Network, the leading Internet media company for Spanish- and Portuguese-language audiences worldwide, and Visa International, the “best way to pay and be paid” in Latin America and throughout the world, announced Monday that they have entered into a strategic e-commerce alliance to promote the use of Visa cards as the preferred method of online payment for visitors to StarMedia Network’s popular Shopping areas featuring premium local and international brands.

StarMedia Network Chairman and C.E.O. Fernando Espuelas made the announcement at the “Internet in Latin America” conference in Miami Beach, Florida.

Under the terms of the agreement, StarMedia Network, Visa International, and Visa Member banks in Latin America and the Caribbean, will collaborate on a number of “StarMedia Prefers Visa” and other e-commerce promotions, including a StarMedia Network CD-ROM mailing to select Visa cardholders. StarMedia Network and Visa International will also present e-commerce seminars and workshops to educate merchants and cardholders on the benefits of secure, “anywhere; anytime” online shopping.

“The strategic marketing partnership with Visa, the undisputed market leader, advances our dual objective of expanding and improving our e-commerce offerings to the growing community of StarMedia Network users and online shoppers throughout the Spanish and Portuguese-language speaking world,” said Espuelas. “The accompanying marketing campaign will also serve to educate users and retailers throughout the region on the benefits of making secure online shopping,” he added.

According to a recent study conducted by The Boston Consulting Group and Visa International, Latin America and Caribbean Region, Latin American online retailers will generate $77 million in sales in 1999. The BCG report forecasts online retailing in the region to grow as high as $3.8 billion by 2003. StarMedia Network Chairman and C.E.O. Espuelas cited this growth and the potential the region offers retailers and consumers alike; noting that the partnership with Visa International will allow StarMedia to expand its leadership position by providing the “best online shopping experience to its users.”

“It’s only natural that StarMedia Network and Visa International take a leadership role in developing e-commerce in Latin America. StarMedia Network is the leading Internet media company for Spanish and Portuguese-speaking users in the world today, with over 1.4 billion ‘page views’ last quarter alone, and close to 2 million e-mail subscribers. Similarly, Visa is the leading and most widely recognized payment system in the world — with more cards in circulation than all of our competitors combined, and with a card sales volume well-exceeding one trillion dollars,” said Jonathan Sanchez-Jaimes, President, Visa International, Latin America and Caribbean Region. “Our research shows us that Internet media companies with online shopping capabilities, such as StarMedia Network, will play an important part in the growth of Latin American e-commerce. Visa is — and will continue to be — part of that growth. Our agreement with StarMedia Network leads the way in ensuring that our Member banks, merchants and cardholders experience the full benefits of online shopping and secures Visa’s place as the Internet’s ‘natural currency,'” he added.

About StarMedia Network

StarMedia Network is the leading Internet media company targeting Latin America and other Spanish- and Portuguese-speaking markets worldwide. The company is committed to providing Spanish and Portuguese speakers with a complete selection of services and products that take full advantage of Internet technologies. StarMedia Network operates StarMedia ([http://www.starmedia.com][1]), the leading global online community for Spanish and Portuguese speakers; Periscopio ([http://www.periscopio.com][2]), a new, powerful information portal for Spanish speakers worldwide; LatinRed ([http://www.latinred.com][3]), one of the largest Spanish language online communities; OpenChile ([http://www.openchile.cl][4]), a local Chilean portal; Zeek! ([http://www.zeek.com.br][5]) and Cade? ([http://www.cade.com.br][6]), two of the leading online directories in Brazil; StarMedia Acceso/Acesso, a premium Internet access service in Latin America; StarMedia Broadband, StarMedia Network’s new broadband services arm; and StarMedia Mobile, its wireless division. Founded in 1996, the company employs over 600 people with operations in Argentina, Brazil, Chile, Colombia, Mexico, Puerto Rico, Spain, Uruguay, Venezuela, and major U.S. cities.

About Visa

As the “World’s Best Way to Pay,” Visa is the leading payment brand and the largest payment system in the world with more volume than all other major payment cards combined. Visa plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa has more than 70 smart card programs in 33 countries and on the Internet, with 23 million Visa chip cards, including 8 million Visa Cash cards. Visa is pioneering SET Secure Electronic Transaction(TM) programs to enable and advance Internet commerce. There are over 850 million Visa, Visa Electron, Interlink, PLUS and Visa Cash cards, which generate more than US$1.4 trillion in annual volume. Visa-branded cards are accepted at over 17 million worldwide locations, including at more than 500,000 ATMs in the Visa Global ATM Network. Visa, Latin America and Caribbean Region, Internet address is [http://www.Visalatam.com][7].

[1]: http://www.starmedia.com/
[2]: http://www.periscopio.com/
[3]: http://www.latinred.com/
[4]: http://www.openchile.cl/
[5]: http://www.zeek.com.br/
[6]: http://www.cade.com.br/
[7]: http://www.visalatam.com/

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ScoreNet

For more profitable marketing and customer management strategies, ScoreNet Service from Fair, Isaac and Company, Inc., now provides convenient delivery of revenue scores from all three major U.S. credit bureaus-most recently Equifax. Revenue scores help credit grantors find the “24-carat” opportunities in their prospect mailbase or customer portfolio by determining which customers have the potential to build and revolve large balances. In general, ScoreNet Service gives credit grantors more time to manage their portfolios by streamlining the time-consuming tasks of obtaining, auditing and processing credit bureau information, including risk, attrition, collection, bankruptcy and revenue scores.

“Obtaining regularly updated revenue scores and credit bureau information allows credit grantors to accurately segment their customer base and focus their marketing efforts on tomorrow’s most profitable accounts,” said David Klinetobe, ScoreNet product manager at Fair, Isaac. “Instead of requesting and auditing data from each of the three national credit bureaus, ScoreNet provides a single source for credit bureau information delivery, giving credit grantors more time to manage their portfolios.”

Klinetobe added that in addition to revenue scores, credit bureau attributes are also now available from Equifax via ScoreNet. “Attributes provide a more in-depth understanding of credit customers and are valuable in portfolio segmentation. Credit grantors can use them to tailor marketing and customer management strategies, using attributes for line increases, balance transfers and cross-sell programs.”

Fair, Isaac helps companies make faster, more profitable decisions about marketing, customers, operations and portfolios. Widely recognized for its pioneering work in predictive technology, the company provides advanced decision-making solutions to the financial services, retail, telecommunications and pharmaceutical industries. Headquartered in San Rafael, Calif., Fair, Isaac employs 1600 people in 18 offices worldwide. For the fiscal year ended September 30, 1999, the company reported net income of $30 million on revenues of $277 million. For more information visit [http://www.fairisaac.com][1].

[1]: http://www.fairisaac.com/

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USPS ATM Pilot

The U.S. Treasury Department, the U.S. Postal Service and KeyCorp announced a pilot program to place ATMs in post office lobbies to determine the level of general public response to the presence of ATMs in six under-served areas, including usage for distributing government benefits to citizens. The initial program will involve ATMs at three urban locations in Maryland and three rural locations in Florida. Officials will study the potential for distributing Social Security payments, federal retirement payments, and other benefits via ATM before deciding whether to expand the program nationwide. The U.S. Postal Service operates some 33,000 post offices around the United States, and KeyCorp presently serves as depository agent for more than 5,000 post offices in 13 states. The Postal Service is KeyCorp’s largest depository/cash management services customer, with transactions of more than $6.7 billion per year.

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Canadian LensCard

The ‘LensCard’ has migrated north. Royal Bank will unveil this morning the first-ever Canadian ‘LensCard’, the ‘Royal Bank VISA Gold’ credit card with a built-in lens that magnifies text up to three and a half times and helps cardholders read smaller print on sales slips, restaurant receipts, telephone listings, food labels, etc. The ‘LensCard’, originally developed by American inventor and restaurateur Alan Finkelstein, was inspired by actor Jack Nicholson, who at the end of a meal in a dimly lit restaurant, pulled out a credit card and magnifying glass to read the bill. Chase Manhattan introduced the ‘LensCard’ in the U.S. market exactly one year ago. Royal says the new card will be available in the first quarter 2000.

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Associates Taiwan MasterCard

Associates First Capital Corporation (NYSE: AFS) announced today that it will issue MasterCard credit cards in Taiwan through a newly formed company, Associates Credit Card Taiwan Inc.

“Taiwan is one of the fastest growing markets in Asia. This new capability provides us with a unique opportunity to increase our presence in the Taiwan market and offer additional services,” said Wilfred Y. Horie, senior executive vice president of International Operations.

With its new capability, The Associates will have two distinct operations in Taiwan; a credit card operation and consumer retail sales finance operation. Associates Credit Card Taiwan Inc. will issue and service credit cards out of a centralized operations center in Taiwan. Associates Finance Taiwan Inc., which was established in early 1997, will continue to provide a consumer retail sales finance business in Taiwan for the purchase of consumer goods.

Associates First Capital Corporation, established in 1918, is a leading diversified finance company providing consumer and commercial finance, leasing, insurance and related services worldwide. The Associates has operations in the United States and 13 international markets. Headquartered in Dallas, it is one of the nation’s 100 largest companies, based on total market capitalization. For more information visit The Associates Web site at [www.theassociates.com][1].

[1]: http://www.theassociates.com

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NextCard Voted #1 Brand

NextCard, Inc. announced that the NextCard Internet Visa is the number one credit card brand that PC-using consumers would consider for use according to a recent ZDNet BrandIQ research study.

Based on a national evaluation of eight credit card brands, 53% of qualified respondents indicated they were most likely to consider using a NextCard. Although a new brand with limited overall awareness, the NextCard ranked higher in consideration by as much as 60% than American Express(R), AT&T Universal(R), Diners(R), Discover(R), FirstUSA(R), MasterCard(R) and Visa.

“This result is a remarkable milestone for the NextCard brand, especially considering that our first product was launched less than two years ago,” said Jeremy Lent, founder and CEO of NextCard. “It reflects the true differentiation that NextCard has achieved, with its unique combination of a customized application process and significant eCommerce value-added.

“With our new NextCard Concierge(sm) online wallet and companion, combined with other Web shopping services, NextCard is well on its way to gaining exclusive share of wallet for our customers when they make Internet purchases.” NextCard’s customers purchase five times more online than a typical credit card user.

The groundbreaking ZDNet BrandIQ research reports on the Internet’s role in building brand recognition, and its influence on purchasing activity.

The research highlights various aspects of Internet branding, including the impact of Web-related strategies in creating online brands and the heightened competitive environment for traditionally strong brands being challenged by new Internet-based businesses. More information about the credit card research is available at ([http://www .infobeads.com/INSIDER/PAGES/TOPICS/Internet/101399/][1]).

“Our ZDNet BrandIQ research confirms that the user experience with online brands is forming, and indeed transforming, brand perceptions, and altering the competitive landscape for many businesses,” said Barry Briggs, executive vice president, ZDNet. “We’ve reached the point where having a strong online presence is now mission critical in building a successful brand.”

About NextCard

NextCard, Inc. ([http://www.nextcard.com][2]), creator of The First True Internet Visa(R) in 1997, is considered the industry’s leading issuer of consumer credit on the Internet. The Company has continued to innovate with its complete GoShopping!(SM) Web site, NextCard Concierge(SM), comprehensive rewards, personalized PictureCard(SM) design and exceptional online customer service.

NextCard is a Top 5 Web advertiser whose marketing partners include Hoover’s Online Network, Bloomberg.com, Mapquest.com, ONElist, Kodak, InsWeb, USAToday.com and Weather.com. The Company has 20,000 affiliates as well as affinity and co-branded card relationships with Dilbert (United Features Syndicate), BizRate.com and Chipshot.com.

NextCard has strategic business relationships with Exodus Communications, Experian, Equifax, First Data Corporation, MyPoints.com and TransUnion.

NextCard publishes the NextCard eCommerce Index(SM), the premier source of online purchase activity and was named a “HOT 100 Company” by Upside magazine and one of “The Standard 100” most important and influential companies in the Internet economy by The Industry Standard magazine.

About ZDNet BrandIQ

Conducted in partnership with Bruskin/Goldring Research, ZDNet’s Brand IQ research targeted the US PC-owning population, aged 18 or over, using a random digital dialing telephone methodology.

The study covered 15 different categories (brokerage/financial services, desktop computers, computer reseller sites, top Internet sites, search engines, airlines, clothing, credit cards, printers, notebooks, travel sites, insurance, hotels, department stores and automobiles), and measured the differences in demographics, attitudes, and brand perceptions between Internet and non-Internet users.

The research provides a unique perspective into the attributes rated as important in forming a favorable brand impression and in determining purchase consideration.

About ZDNet

Based in San Francisco, ZDNet operates the leading Web destination ([www.zdnet.com][3]) for people who want to buy, use and learn about technology. ZDNet offers an enormous depth and breadth of original, fresh content that it serves to a growing audience ranging from IT professionals, to families, to gamers.

Winner of the Computer Press Awards’ Best Overall Online Site, ZDNet Sites consistently ranks among the Top 20 Web properties according to Media Metrix’s at home/at work study and ZDNet.com has been ranked as the number-one news, information and entertainment site in ten out of the last 14 months. ZDNet’s content is available worldwide through its four wholly owned and 16 licensed international sites.

[1]: http://www.infobeads.com/INSIDER/PAGES/TOPICS/Internet/101399/
[2]: http://www.nextcard.com/
[3]: http://www.zdnet.com/

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Marriott/VISA Promo

Marriott Certificate Marketing, a division of Marriott International, Inc. announced today the results of a recent online gift-giving survey as it simultaneously launched a special holiday discount offer with Visa U.S.A. designed to make the 1999 gift selection process a little easier.

The two companies announced that, between November 25 and December 31, 1999, people who purchase Marriott Gift Certificates* with their Visa card will save $10 on each certificate when ordered through either 1-800-813-GIFT or .

David Riddell, vice president of certificate marketing for Marriott, said that the special offer was created because “travel-related gift certificates always fit, regardless of the recipient’s size, shape or interests.” Citing the results of a recent online survey sponsored by Marriott, he said that more than 50 percent of the survey’s 500-plus respondents ranked travel-related gift certificates as the gift certificate of choice. He added that the survey showed people purchase gift certificates for two primary reasons: they give the recipient a choice while taking the worry out of picking the right gift.

“Our cardholders have told us that when it comes to holiday shopping, convenience is the top priority. Through our partnership with Marriott, Visa is pleased to offer our cardholders a value-added, effortless way to give the gift of travel this holiday season,” said Cheryl Rutenberg, vice president of sales and integrated solutions at Visa U.S.A.

Riddell said that, along with actual “best” and “worst” gifts like the ones named above, the survey asked men and women to offer gift-giving advice for each other. “There were a few surprises such as, while 64 percent of the men said ‘buy expensive’ for women, only 36 percent of the women offered the same advice. So, guys, if you thought you had to spend a lot of money to impress your woman, think again-what matters more is that you know your woman and listen for clues.”

The Top 10 He-Said, She-Said Holiday Gift Tips from Marriott**:

Buying for Women? The Men Say:

1. Go with the heart

2. Consider her need for relaxation

3. Buy jewelry

4. If you buy clothes, know her size; if not, buy smaller vs. larger

5. No household or kitchen appliances EVER

6 Listen to her for the clues that are surely there

7. Buy from a store she frequents

8. Think of her unspoken wants

9. Make it romantic

10. Make sure she knows where it’s from so she can discreetly return it

Buying for Men? The Women Say:

1. Buy what he wants, not what you want for him

2. They’re all little boys at heart and they still love cool toys

3. Ask his friends what he likes

4. Concentrate on his hobbies

5. Be daring and romantic

6. Pick up on little hints; not only will he love the gift, he’ll love that you listened

7. Nothing with a cutsie nickname printed on it

8. Give him a fishing or golfing trip with his buddies

9. Give him a gift certificate wrapped in a sexy pair of underwear

10. Don’t assume they all like sports

Additional survey** findings:

— Men spend an average of $467 on their spouse/significant other, while women spend an average of $231.

— Five years ago, 87 percent of respondents preferred to buy gifts at a retail store, while 13 percent purchased through catalogues. Today, 61 percent prefer to buy gifts at a retail store, 16 percent purchase through catalogues, and 23 percent purchase online.

— When asked what they did with their “worst” gifts, 32 percent stuck them in a closet, 16 percent recycled them, and 15 percent donated them to a charity.

(**Source: Marriott Certificate Marketing Online Survey, 1999)

*The Visa special offer applies to the following three categories of Marriott Gift Certificates: The Ultimate Weekend Night Certificate (good for one night’s stay and breakfast for two at all Marriott Hotels, Resorts and Suites and Renaissance Hotels and Resorts in the United States); The Weekend Night Certificate (good for one night’s stay and breakfast at all Courtyard, Fairfield Inn, SpringHill Suites and Residence Inn hotels and good for one night’s stay at all TownePlace Suites in the United States); and Dinner-for-Two Certificates (good for a four-course dinner for two, including unlimited non-alcoholic beverages, at all Marriott Hotels, Resorts and Suites and Renaissance Hotels and Resorts in the United States. Some specialty restaurants do not participate.) (Certain blackout dates apply to The Weekend and Ultimate Weekend Night Certificates.) In addition to the Visa-discounted Gift Certificates, Marriott also offers dollar-denominated Gift Certificates ranging from $10 – $100.

MARRIOTT INTERNATIONAL, INC. (NYSE: MAR) is a leading worldwide hospitality company with over 1,900 operating units in the United States and 56 other countries and territories. Marriott Lodging operates and franchises hotels under the Marriott, Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Ramada International brand names; develops and operates vacation ownership (timeshare) resorts under the Marriott, Ritz-Carlton and Horizons brands, operates executive apartments and conference centers, and provides furnished corporate housing through its ExecuStay by Marriott division. Other Marriott businesses include senior living communities and services, wholesale food distribution, and procurement services. The company is headquartered in Washington, D.C. and has approximately 140,000 employees. In fiscal year 1998, Marriott International reported total sales of $8.0 billion.

As the World’s Best Way to Pay, Visa is the leading payment brand and the largest consumer payment system worldwide with more volume than all other major payment cards combined. Visa plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa has more than 70 smart card programs in 33 countries and on the Internet, with 23 million Visa chip cards, including over 8 million Visa cash cards. Visa is pioneering SET Secure Electronic Transaction(TM) programs to enable and advance Internet commerce. There are more than 800 million Visa, Interlink, PLUS and Visa Cash cards, which generate nearly US$1.4 trillion in annual volume. Visa-branded cards are accepted at more than 16 million worldwide locations, including at over 500,000 ATMs in the Visa Global ATM Network. Visa’s Internet address is .

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Notre Dame VISA Renews

First USA, the world’s largest Visa credit card issuer, announced that the University of Notre Dame Alumni Association has extended its endorsement of First USA as the official issuer of the University of Notre Dame Visa credit card.

The program, started in 1995, offers a no-fee, low interest Platinum Visa credit card to alumni and friends of the University of Notre Dame. Revenue from the credit card program is used to fund academic scholarships for Notre Dame students.

First USA ([http://www.firstusa.com][1]), a subsidiary of Bank One Corporation (NYSE: ONE), is the world’s largest issuer of Visa credit cards. First USA offers credit cards to consumers and businesses under the First USA, First Card and Bank One names and on behalf of more than 2,200 marketing partners. Bank One is the nation’s fifth-largest bank holding company with assets of more than $264 billion.

[1]: http://www.firstusa.com/

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AmEx Brokerage Online

American Express Company launched American Express Brokerage () – a service that combines attractive online pricing, including free equity trades for account holders with minimum balances, innovative online financial planning tools and access to American Express’ 9,300 financial advisors. The company announced plans to launch American Express Brokerage Oct. 5.

“With the launch of American Express Brokerage, there is now one place on the Web where all kinds of investors, from the beginner to the most sophisticated, will find what they need to help achieve their financial goals,” said Doug Lennick, executive vice president, Advice and Retail Distribution Group, American Express.

American Express Brokerage provides access to the tools for online investing that customers value most, including:

Low-cost equity trading. Online equity buys are free and sells are $14.95 with a minimum account balance of $25,000. For account balances of $100,000 or more, online equity buys and sells are free, although online sells are $14.95 if the stock was bought the same day. With an account balance of less than $25,000, online buys and sells are each $14.95. All equity buys and sells over 3,000 shares have an additional charge of three cents per share.

Instant online account opening. Qualified customers can open an account online and begin trading in minutes.

Financial planning tools. A comprehensive online financial planning tool will be available in the coming weeks. This tool helps investors set their goals and evaluate their financial situation through an interactive, easy-to-use “roadmap” integrating all areas of financial planning, from tax planning to estate planning to retirement and investment planning and more. Investors who use the tool will have a deeper understanding of their overall financial needs and will be able to ask smarter investment questions and make better investment choices.

The site will also include: An online asset allocation tool that helps investors determine the percentage of stocks, bonds and cash to keep in their portfolios and provides specific mutual fund selections to help clients meet their goals. An online equity evaluation tool that evaluates stocks to determine if they are a good fit for an investor’s overall portfolio based on the investor’s goals and risk tolerance.

Access to American Express financial advisors. Clients can choose to work with an American Express financial advisor to get whatever level of advice and help they need. Advisors can provide comprehensive financial planning as well as advice on individual investments. Advisors are able to offer American Express Brokerage as a tool for their clients, and Brokerage customers can use an online advisor locator to find an advisor in their area.

A choice of close to 2,000 mutual funds. These include funds from many well-known fund families, as well as the American Express index funds.

Free electronic bill payment, unlimited check writing and an American Express Gold Card. With a minimum balance of $5,000, clients have access to a cash management account featuring free, unlimited check writing, unlimited debit card use and ATM access at more than 94 percent of the ATMs in the United States, with automatic rebates for surcharges — up to $1.50 per transaction, four times per month. Customers who have qualifying assets of $25,000 or more can receive free electronic bill payment and an American Express Gold Card, with the $75 annual fee compliments of American Express. Gold Card charges will be debited from the cash management account monthly.

Professional research. Buy-side research from American Express Financial Advisors is available online, plus company profiles from Standard and Poor’s, earnings estimates from Zack’s and news and analysis from SmartMoney.com and TheStreet.com. Free real-time quotes and email price alerts are also available.

Service. American Express professionals are available 24 hours a day, seven days a week, to answer technical and investment questions at 1-800 AXP-8800.

“Our aim is to be a leading destination site in financial services online,” said Ruediger Adolf, senior vice president, Strategic Planning and Business Development, American Express Company. “Now, with just the click of a mouse, customers can move from American Express Brokerage, to Membership B@nking, to personal or Corporate Card accounts, and even book a trip – all at americanexpress.com.”

American Express first introduced an online investing capability, Financial Direct, in 1996. Financial Direct customers have been automatically upgraded to the more comprehensive American Express Brokerage account.

American Express Company ([http://www.americanexpress.com][1]) gives consumers, small businesses and corporations access to a range of Internet products and services:

Through My American Express, consumers can tailor the American Express Web site so that those services of particular interest will automatically appear on the start page. Options include the ability to view and pay American Express Card bills online; view Membership Rewards program points; consolidate and track travel rewards programs in a single, centralized location; make travel reservations and find last minute travel bargains; and receive special online offers.

Consumers interested in online financial services can conduct online banking with free bill payment and ATM rebates.

Resources for small businesses include tips on incorporation, managing staff, and franchising business opportunities. Corporate customers can choose from retirement planning, purchasing, travel and expense management services.

American Express Company is a diversified worldwide travel, network, and financial services provider founded in 1850. American Express Company and its subsidiaries are leaders in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking. For more information, visit [http://www.americanexpress.com][2].

American Express Financial Advisors, Inc. Member NASD and SIPC. Insurance products are issued by IDS Life Insurance Company, except in New York, where IDS Life Insurance Company of New York is the issuer. American Express Company is separate from American Express Financial Advisors Inc. and is not a broker-dealer.

For more complete information on Investment products, including fees and expenses, consumers may obtain a prospectus by calling 1-800 AXP-8800, option 1. Consumers should read the prospectus before investing or sending money.

Investments are not insured by the FDIC, are not deposits or obligations of or guaranteed by a financial institution, involve investment risks including possible loss of principal. All deposit products and services are offered by American Express Centurion Bank, member FDIC.

American Express Travel related Services Company, Inc., offers charge cards, credit cards and travel services.

[1]: http://www.americanexpress.com/
[2]: http://www.americanexpress.com/

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Risk Management Report

Despite being one of the most important risk functions within a financial institution, credit risk management remains one of the least automated practices in the risk industry. As a result, the credit risk management is currently one of the fastest growing segments of risk management technology investments. A primary driver catalyzing this segment is a growing trend among many industry players toward active portfolio management. In a new report titled “Achieving Active Portfolio Management,” Meridien Research examines recent advances in technology underlying the most advanced credit risk management practices.

The 26-page report examines the current state of the art technology for default probability estimation and credit exposure qualifications, as well as solutions that exist to facilitate active portfolio management. Profiles of leading vendors providing credit risk technology are included in the report. In addition, the report delves into the three major components of an active credit risk management architecture: data, exposure calculator and portfolio analysis tools. The inputs to the system, the data, run through two distinct processes: exposure calculation and portfolio analysis. The primary outputs are the expected loss information, used for loss provisioning, capital allocation, pricing and portfolio optimization.

“The tools that the industry provides for credit decision making have improved markedly over the past five years,” says Deborah Williams, research director of Meridien Research’s risk management group. “However, the future direction of the technology will depend on several drivers, one of the most important being competitive pressures. All things being equal, institutions that do a better job of managing their credit risk exposures will be more profitable in the long run. A significant portion of this will, in turn, depend on technology savvy.”

The report provides two case studies to illustrate the application of credit risk technology of financial institutions. NatWest, England’s fourth largest bank, provides an excellent example of a best practices approach that could be emulated by other institutions. The Basler Kantonalbank, a Swiss regional bank, adopted a credit risk management system to support its derivatives and foreign exchange trading.

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