ARGO Data Resource Corporation Announces David McCune to Head Technology Panel for Bankers Integration Group, Inc.
LAGUNA NIGUEL, Calif., May 3, 2004 -- Bankers Integration Group, Inc. ("BIG"), a technology company operating a web-based risk analysis engine that lets an Auto Dealer process finance applications with lender approval in a matter of seconds, jointly announced today with its strategic partner ARGO Data Resource Corporation ("ARGO"), a market leader that provides automated delivery and lending systems for financial services companies, that David McCune, ARGO's Corporate Vice President, will join the Board of Advisors of BIG. ARGO supplies interface technology between a lender's loan origination system ("LOS") and BIG's patent pending web-based risk analysis engine known as BIGFNI(TM).
As a member of BIG's Board of Advisors, Mr. McCune will form and head-up a technology panel made up of members recruited from major lending institutions and Dealer Management System ("DMS") technology providers. The panel's mandate will be to frame the blueprint for developing a system that permits a dealer to electronically transmit finance applications, contracts and all associated loan documents directly to a lender's back end, and will also allow electronic securitization of a lender's loan portfolio. The ultimate goal is to fully integrate the most popular DMS systems with the back-end systems of financial institutions. ARGO and BIG believe that by expanding the functionality of BIGFNI(TM), both dealers and lenders will experience significant cost savings, and automobile dealers will also benefit from faster funding and lenders from the increased efficiencies of electronic securitizations.
"I am very pleased to be spearheading this effort to deliver an innovative fully integrated solution for automobile dealers and lenders," said David McCune, Corporate Vice President of ARGO. "Expanding the functionality of the BIGFNI system to allow for the electronic transmission of financing contracts and related documents will greatly assist ARGO in meeting the goals of our lending clients. In addition, BIGFNI's ability to be used for electronic securitization sets it apart from any other competing system and offers a unique opportunity for our customers."
"We greatly value our strategic relationship with ARGO, a company that represents the gold standard in financial services technology, and look forward to working even more closely with ARGO as David moves our joint effort forward," said Ted Cunningham, Vice Chairman of Bankers Integration Group and former Executive Vice President of Global Sales and Marketing for the Chrysler Group. "When fully implemented, the BIGFNI system will be the most comprehensive product in the marketplace, offering both lenders and dealers significant cost savings in addition to other substantial benefits."
About ARGO Data Resource Corporation:
ARGO Data Resource Corporation, based in Dallas, Texas, a market leader among the top financial institutions in the U.S., automates retail delivery and lending systems for financial services companies. ARGO has been providing solutions to the financial services industry since 1980 and excels at implementing cost-effective, best-of-breed solutions. ARGO's strong revenue growth and twenty-three years of experience demonstrate stability and longevity that is unsurpassed in the software industry.
About Bankers Integration Group, Inc.
Bankers Integration Group, Inc., with its headquarters in Laguna Niguel, California, is an application service provider to the finance and insurance industries. Its patent pending web-based risk analysis engine, BIGFNI(TM), allows automobile dealers and lenders to decision financing in real time with funding and final delivery through ePackaging. Partnering with leading financial institutions, the BIGFNI software engine operates over the Internet through a standard browser, interpreting credit data, rendering a credit decision, and matching buyers with loan programs based on credit history drawn from the three major credit bureaus, vehicle type, and a lender's underwriting criteria. The system is designed to host a variety of prime and non-prime lenders. For more information about Bankers Integration Group, visit the company's Web site at www.bigfni.com or contact Michael R. Dunn, Chairman and CEO, at 1-800-633-9171 ext. 126.