Tag Archives: Zoot

Zoot Receives Industry Patent for Test File Modification Tool

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Bozeman, Mont. (PRWEB) August 30, 2012

Zoot, a leading provider of advanced instant credit decisioning and loan origination solutions, announced today that the U.S. Patent and Trademark Workplace granted the issuance of U.S. Patent Quantity eight,239,757 for the companys technique and technique for generating and modifying test data files utilised when testing the accuracy of a financial institutions credit decisioning logic.

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Prior to this invention, the only option financial institutions had for testing their decisioning logic was to manually produce a adequate test bed of test data files, run them by way of their system, manually overview every automated choice and compare it with hand-calculated outcomes to guarantee that it was making the appropriate decision, mentioned Tom Johnson, vice president of company improvement for Zoot Enterprises and a single of the named co-inventors on the patent. Our resolution offers an efficient, accurate and automated procedure for improving banks testing procedures.

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Zoots test file modification tool treatments the technological challenges for economic institutions of making and editing files to accurately and completely test every single aspect of their credit decisioning logic. Moreover, the tool automates the method through the use of an intuitive and effortless-to-use graphical user interface (GUI) that makes it possible for users to fully test their automated logic. The remedy both reduces danger and lowers costs.

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Some of the circumstances of a banks decisioning logic can be extremely rare, occurring less than when in ten,000 credit files. The consequence of that piece of logic becoming wrong in a production environment could imply the loss of hundreds of thousands of dollars each and every time it is encountered, based on the size of loans getting authorized by the automated technique, stated Johnson. Making use of this tool, software program developers no longer need to commit countless hours making and hand-editing test information files or rely on a volume test that may possibly miss particular circumstances.

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Tom Johnson, Pete Quinlan and Kevin Fletcher are inventors of the patent issued to Zoot Enterprises on August 7, 2012. For much more info about how this invention can help financial institutions testing procedures check out Zoots test file modification tool webpage.

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About Zoot&#13

Bozeman, Mont.-primarily based Zoot Enterprises, Inc. provides comprehensive credit decisioning, loan origination and credit threat management options to enable customers exclusive business objectives, leading to lengthy-term relationships with top U.S. and international monetary institutions. Zoots fast, high-volume processing atmosphere has the capacity to approach billions of transactions per year. Go to http://www.zootweb.com or get in touch with 406.556.7555 for more details. Zoot believed leaders are now featured on zootweb.com/blog.

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Much more Loan Modification Press Releases

Zoot Enterprises Announces Productive 2012

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Bozeman, Mont. (PRWEB) January 30, 2013

Zoot, a international provider of advanced loan origination, account acquisition and credit threat management solutions, today announced a number of achievements in 2012. The firm launched a new solution developed to assess and monitor merchant threat, received a patent for its test file modification tool and expanded partnerships that utilize Zoot technology to drive innovation.

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We are pleased to continue a positive trajectory of development with each current and new consumers. As we move into 2013 were hiring for far more than 20 new positions this month and anticipate extra growth all through the year, mentioned Dennis Dixon, president of Zoot Enterprises. 1 of Zoots core strengths is addressing sector gaps for our clientele. In 2012 we created solutions and expanded our partnerships to assist our clientele with much more effective account opening, proactive threat management and elevated consumer satisfaction.

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Zoot launched zMerchantSM onboarding and risk monitoring remedy in response to an sector need to have for realtime evaluation of new merchant applications by merchant acquirers, ISOs and other folks looking for to establish new merchant accounts. The resolution also proactively monitors merchant transactions and applies automated triggers to indicate risk of loss. zMerchant gives acquirers access to company and customer credit information as well as option credit and fraud data, delivering the flexibility to assess every merchants unique risk.

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In August of 2012, the U.S. Patent and Trademark Office granted the issuance of U.S. Patent Quantity eight,239,757 for Zoots technique and method for making and modifying test data files used when testing the accuracy of a financial institutions credit decisioning logic. The solution offers an efficient, accurate and automated approach for enhancing banks testing procedures. Employing this tool, software program developers no longer require to commit numerous hours creating and hand-editing test data files or rely on a volume test that may well miss particular situations.

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Zoot enhanced its marketplace offerings by combining the strengths of enterprise partners with Zoot technologies to produce differentiated items. Acxiom

Zoot Enterprises Announces New Fraud Engine Capabilities

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Phoenix, AZ &amp Bozeman, MT (PRWEB) March 11, 2013

Zoot, a global provider of advanced loan origination, account acquisition and credit risk management options, these days announced new fraud prevention capabilities at the CBA Reside 2013 The Future of Cash conference. Zoots fraud engine enables monetary institutions (FIs) to adapt quickly to new fraud tactics by leveraging versatile company guidelines improvement tools, knowledge in data integration and frequent testing capabilities.

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Fraud losses are on the rise for U.S. economic institutions, by as significantly as 30% year over year for numerous FIs with whom Aite Group has spoken. Thanks to the sophistication of the organized rings behind a lot of of these schemes, FIs have a really difficult job in weeding out the fraudulent applications at the point of origination, stated Julie Conroy, analysis director, retail banking &amp payments for Aite Group.

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As the sophistication of fraudulent activity increases and fraud losses escalate, we recognize the want for enhanced prevention measures for lenders, said Eric Lindeen, marketing and advertising director for Zoot Enterprises. Zoots fraud engine aggregates information from each internal bank and external data sources to provide a more extensive view of customers. A single interaction may possibly appear benign but when statistical analysis of thousands of interactions is conducted, fraud schemes are usually exposed.

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Zoots information and solutions marketplace has connections to more than 15 fraud prevention data providers and danger management businesses, such as ID Analytics. Providers of fraud associated information can assist FIs in much better understanding buyers behaviors and their likelihood of fraudulent activity, with information not traditionally obtainable in a customers credit file.

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Zoots fraud engine enables organization users to test different fraud identification methods on a large scale in a non-production testing atmosphere. Retrospective evaluations can also be carried out to establish if a new fraud prevention tactic would have made a much more efficient outcome. In addition, the solutions versatile company rule development tools enable customers to make modifications to decisioning logic swiftly as the market adjustments.

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The incorporation of ID Analytics ID Score product into Zoots fraud engine enables FIs to discover a larger percentage of fraud with their current overview rate and the same level of fraud at a lowered assessment rate. For example, at a 3% overview price, ID Score can uncover in between 40-45% of fraud activity. Zoots fraud engine combined with ID Analytics data reduces fraud, protects buyers, and drives expense savings, mentioned Garient Evans, director of Identity Danger, ID Analytics.

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Zoot executives will be accessible to discuss their fraud engine capabilities at booth quantity 58 throughout the CBA Live Conference, March 11-13, 2013 at the JW Marriott Desert Ridge in Phoenix, Arizona. ID Analytics will be hosting a forty-five minute educational webinar titled, Detailed Insight through Attributes, a discussion about fraud and compliance attributes ideal practices. On March 28th at 9:30 am PST, find out how companies can acquire the complete insight into identity danger necessary to keep ahead of evolving identity-risk threats while preserving a positive client knowledge. To register, click here.

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About Zoot

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Bozeman, Mont.-primarily based Zoot Enterprises, Inc. is a worldwide provider of advanced loan origination, account acquisition, and credit danger management solutions. For much more than 20 years the companys innovative tools and services model has enabled Zoot consumers to meet their exact organization objectives and adapt rapidly to seize marketplace possibilities. Zoots rapid, higher-volume processing environment has the capacity to approach billions of transactions per year. Pay a visit to http://www.zootweb.com or get in touch with 406.556.7555 for a lot more information. Zoot thought leaders are now featured on zootweb.com/weblog.

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About ID Analytics, Inc.

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ID Analytics is a leader in consumer danger management with patented analytics, proven expertise, and real-time insight into customer behavior. By combining proprietary information from the ID Network