New VisaNet Head

Scott Thompson has been named Executive Vice President, Systems Development and Customer Service, for Visa U.S.A., with overall responsibility for the VisaNet Services Group.

Thompson joins Visa after five years as Chief Information Officer for Barclays Global Investors in San Francisco, where he spearheaded all systems and technical operations activities for the firm, which manages mare than $400 billion in assets. In addition, he successfully implemented a new strategic platform and technology infrastructure based on UNIX technologies, overseeing a staff of more than 200 technology professionals. He also redirected development efforts at the firm toward client-served methodology.

“Scott Thompson is a seasoned systems development professional, bringing more than 15 years of experience in information systems and operations to Visa U.S.A.,” said Carl Pascarella, president and chief executive officer, Visa U.S.A. “He has a proven track record in effectively mastering technology systems, and we are extremely pleased to have him on board.”

Prior to Barclays Global Investors, Thompson was a Partner at Coopers & Lybrand, where he was responsible for delivering information technology solutions to the firm’s financial services industry clients.

“I am excited by the size, scope, and importance of the VisaNet Systems, not only as they exist today, but also as we will develop them for the future,” said Thompson. “As the industry leader, Visa U.S.A. has assembled a stellar systems development team. I’m thrilled to be a part of it.”

VisaNet is Visa’s global payment processing network that provides the telecommunications and data processing infrastructure that connects 21,000 member financial institutions, nearly 600 million Visa cards and more than 14 million Visa acceptance locations. VisaNet recently set and all-time record, processing more than $1 trillion in Visa transactions in the 12 months ended March 31, 1997. VisaNet enables Visa member financial institutions to offer Visa cardholders a variety of services and a level of satisfaction that continually reinforces consumers’ preference of the Visa brand.

Visa is the preferred payment brand and the largest consumer payment system worldwide. It plays a pivotal role in advancing new payment products and technologies to benefit more than 21,000 member finanacial institutions, their cardholders and the global economy. Visa’s nearly 600 million cards are accepted at more than 14 million worldwide locations, including more than 370,000 ATMs in the Visa Global ATM Network. Visa’s Internet address is [][1]



Extra Card Insurance

If you’re like most people, each time you rely on the conveniences of automated banking — be it on-line or at the automatic teller machine (ATM) — you pause to wonder if your account will reflect the withdrawal, deposit (especially of cash) or transfer accurately.

You are rushing to a restaurant, do you really need that receipt? Will such an acknowledgment of the transaction stand up if a problem appears on your account?

As familiar as we have become with automation in most aspects of our lives, these and other concerns are still shared by a majority of people using ATMs and electronic banking services at a rapidly growing rate. The concerns are well-founded because the risk of theft, fraudulent use or other problems from various electronic aberrations are documented.

Meeting these concerns, some personal insurance companies offer protection against loss through electronic banking.

“Most people don’t realize that their homeowners insurance policies may cover loss through electronic banking when unauthorized access or other events affect their account unexpectedly,” said Randolph J. Smith, Senior Vice President for Atlantic Mutual’s Personal Insurance Division. “Recognizing that automation continues to assume a larger role in our lives, added protections like these for consumers are essential.”

The statistics tell the cold reality: The United States Secret Service, for one, has reports of computer hackers who have broken into on-line banking services and companies offering purchases via the Internet to obtain credit card numbers and other personal financial information. And, according to VISA USA, Inc., credit card companies’ fraud losses currently approximate $475 million per year from people using stolen or lost cards, or using fraud schemes to obtain account numbers of unwary cardholders.

Resolving these disputes can be very difficult when there is no clear coverage for liabilities, as not all institutions have or require uniform coverages regarding electronic banking transactions. And while credit card issuers now live by systems for coverage and limited liability that have become popularly understood, the question still remains, what about the risk of loss through banking directly? Who is responsible for what if there is a discrepancy that cannot be easily resolved?

No transaction in the electronic universe should be considered entirely fail-safe. But there are some simple precautions that people can take to minimize their risk when using electronic services:

On-line Banking from Home or Office

1. Your password is the key to your account — keep all passwords secret, never give them to anyone, including bank employees. 2. Always sign off when you leave your computer area: never leave your Internet bank account open when you leave your desk either at home or at the office — if the PC is left unattended with the browser running with a valid user name and password active, anyone can gain access to the account. 3. Keep your computer free of viruses. 4. Consider not banking electronically during the work day when distractions may cause you to forget that you have an account active and open, or to make erroneous entries.

Keeping your ATM Card Yours Alone

1. Treat your ATM card like cash. Always keep your card in a safe place. 2. Keep your “secret code” a secret. Your ATM card will only work with your personal identification number (PIN). Memorize your code — never write it on your card or store it near the card. Never tell your code to anyone. And never let someone else enter your code for you (including bank employees). 3. Do not share any information about your ATM card over the telephone. No one needs to know your secret code, not even your financial institution. 4. Report a lost or stolen card at once. Even though your ATM card cannot be used without your secret code, promptly report a lost or stolen card. 5. Check your receipts against your monthly statements to guard against ATM fraud. You can get a receipt every time you make an ATM transaction. Verify each transaction by checking the receipts against your monthly account statements.

The Atlantic Mutual Companies, including Mutual Insurance Company and Centennial Insurance Co., provide personal, commercial and marine classes of property and casualty insurance through independent agents and brokers. Founded in New York in 1842, Atlantic Mutual has offices throughout the United States. Atlantic Mutual routinely offers advice to individuals and businesses on how to manage their environments safely and productively.


Digital’s New Debit Card

Digital Equipment Corporation today announced the Client Services Support Card, a prepaid debit card that enables customers to purchase telephone support service conveniently in time increments of 30, 60, 120 and 180 minutes. A new concept in desktop application support, the Client Services Support Card offers customers the same ease of use as a prepaid telephone calling card in buying and accessing services at any time, from any location. It offers an uncomplicated, affordable solution to the support needs of an increasingly mobile workforce in a multivendor, networked world.

“Anyone who has had a presentation crash at 2 a.m. with no help desk to call can appreciate Digital’s Support Card,” said Patrick O’Connor, director of marketing for Digital products and services at Pioneer-Standard Electronics, a Digital reseller. “Digital recognizes the fact that today’s PC users range from traditional, nine-to-five corporate users to road warriors and telecommuters, and the amount of application support they need is just as diverse. Digital is focusing the support on the user, not the hardware.”

Easy-to-Buy, Easy-to-Use Services

The Client Services Support Card takes its cue from popular debit cards similar to those offered by banks and phone companies. Individual users in small and large enterprises simply dial a toll-free number and enter a personal identification number (PIN). The service can be purchased and renewed over the phone with a credit card, and is available exclusively through Digital’s authorized resellers.

Customers can access service on more than 200 of the most popular desktop applications. The wide array of business software applications supported includes word processing, electronic mail, Internet access, spreadsheet, graphics, and presentation packages from major vendors such as Microsoft, Lotus, Adobe, and Netscape. Time is not debited until the customer is connected with a support expert, and satisfaction is guaranteed or Digital will credit the customer’s card.

Changing Face of Today’s Workforce

Large and small organizations today increasingly share a common end-user profile, the COHO (company office/home office) or mobile user. Moreover, as most companies rely on rapidly changing technology in a networked world in order to achieve their business objectives faster, the demand for available, high-quality service is also burgeoning.

“The Client Services Support Card is another innovative concept from the world’s leading multivendor, lifecycle services provider,” said Peter Mercury, vice president and general manager of Digital Worldwide Services’ multivendor customer services business. “This new service supports our strategy to address the service needs of an expanding audience of technology users while reducing the complexity of buying and using services. Digital is applying the expertise and sophistication gained from more than 10 years’ experience providing multivendor services to many of the world’s largest enterprises. Now, many more users can take advantage of Digital’s world-class support in an uncomplicated, packaged service offering.”

Managing IT Support Costs

Large and small enterprises alike face escalating costs and infrastructure issues in conducting business. The Digital Support Card helps companies improve productivity, reduce costs and manage technology to meet their business objectives by providing:

— A cost-effective alternative to fulfilling the off-hour service needs of an increasingly mobile workforce.

— Flexibility to obtain desktop application support anywhere, any time. Users control the amount of support time and pay only for the support they use.

— A world-class multivendor solution for companies that do not need annual, comprehensive service contracts or wish to supplement them with flexible departmental alternatives.

— A means to complement, supplement or, for smaller companies, replace the help desk, potentially reducing overall IT support and administrative costs.

— Accountability users can track and manage service usage.

Availability and Pricing

The Client Services Support Card is available now in the U.S. and Canada, and in select markets in Europe. Per-card prices in North America:

U.S. Canada

30 minutes @$69 $97 Cdn.
60 minutes @$119 $167 Cdn.
120 minutes @$219 $307 Cdn.
180 minutes @$319 $447 Cdn.

For more information about obtaining the Client Services Support Card, call 1-800-311-3821.

About Digital

Digital Equipment Corporation, recognized for product and service excellence, is a leading supplier of high-performance, Web-based computing solutions which help enterprises compete in the global marketplace. Digital gives its customers a winning Internet advantage through a comprehensive portfolio of Internet solutions based on award-winning systems, advanced networking infrastructure, innovative software, and industry applications — including those from its business partners. The expertise and experience of Digital employees help customers plan, design, implement, manage and support Internet solutions in countries throughout the world. For the latest company information, visit Digital on the World Wide Web at .

NOTE: Digital, the Digital logo, and Client Services Support Card are trademarks of Digital Equipment Corporation.


Smart Data Expands

MasterCard expanded its business expense management software to all its corporate card programs this week via the introduction of ‘Smart Data for Windows 3.0’. MasterCard’s MIS ‘Smart Data’ package will enable corporate cardholders to generate more than 100 types of reports including multi-currency, multi-language reports for multinationals. The program can also be run on a LAN, client server or as a stand-alone application and offers extensive e-mail and export options.


Calif Phone Card Firm Charged

Attorney General Jim Ryan flied suit late Tuesday against a California multi-level marketing firm for allegedly cheating consumers through a calling card business opportunity scam.

Destiny Telecom International, 100 Hegenberger Road, Oakland, is charged with violating the state’s Consumer Fraud and Deceptive Business Practices Act.

“Consumers have a right to receive the goods and services they pay for — anything short of that is fraud,” Ryan said.

The suit alleges that the defendant charged Illinois consumers between $100 and $1,384 for “distributorships” in the company’s multi-level marketing plan promoting long-distance calling cards. Illinois consumers who became Destiny “distributors” and bought and sold the cards later found the cards were useless. The defendant allegedly failed to pay MCI Communications Corporation for outbound and inbound telephone calling services which rendered the cards inactive. Consumers say their repeated requests for refunds were ignored.

Ryan is seeking a permanent injunction, restitution, costs of the investigation, a civil penalty of $50,000 and an additional penalty of $50,000 for each act found committed with intent to defraud.


Consumer Credit Downshifts

Growth in consumer revolving debt is running about 20% lower than last year according to preliminary figures released by the Federal Reserve Friday. Total revolving debt (general purpose cards, private label cards and revolving lines of credit linked to checking accounts) now stands at $526.1 billion compared to $484.8 billion last September. The FRB says revolving credit is growing 4.5% annually versus 5.6% one year ago. Overall total consumer credit (short-term and intermediate-term credit extended to individuals exclusive of loans secured by real estate) is growing 1.9% annually, logging in at $1.23 trillion for September. Automobile loans are still sluggish, growing about 1.2% annually. According to CardWeb, Inc.’s CardData bank credit card debt is growing about 12% annually, based on mid-year data showing $405.5 billion of general purpose credit card debt. CardData will release third quarter tabulations later this week.

Sep97 Aug97 Jul97 Jun97 May97 Apr97 Mar97 Feb97 Jan97 Sep96
%GRWTH: 4.5 7.0 15.1 0.5 3.6 7.5 -2.6 12.7 17.8 5.6
$OWED: 526.1 524.1 521.0 514.6 514.3 512.8 509.6 510.7 505.3 484.8
Source: Federal Reserve; revised figures as of 11/07/97

September 1997 November 7, 1997

Consumer credit outstanding grew at a 2 percent seasonally adjusted annual rate in September, following a 4-1/4 percent rate of
increase in August. Growth of revolving and “other” credit slowed in September, while that of automobile credit edged higher.

Seasonally adjusted
1996 1997
::::::_ ::::::::::::::_

Sept. Oct. Nov. Dec. Jan. r Feb. r Mar. r Apr. r May r June r July r Aug. r Sept. p
Percent change at annual rate 2
Total 2.4 5.8 4.3 0.2 10.9 7.7 2.3 8.0 0.9 -0.4 5.9 4.2 1.9
Automobile 2.2 4.9 -0.1 5.6 0.6 0.2 -1.6 12.0 1.3 11.0 7.4 -2.1 1.2
Revolving 5.6 13.5 13.3 5.5 17.8 12.7 -2.6 7.5 3.6 0.5 15.1 7.0 4.5
Other 3 -2.6 -5.4 -4.9 -15.4 12.9 9.1 15.7 3.6 -4.0 -16.7 -11.7 7.5 -1.7

Amount: billions of dollars
Total 1,173.9 1,179.6 1,183.8 1,184.0 1,194.8 1,202.5 1,204.8 1,212.8 1,213.7 1,213.3 1,219.3 1,223.5 1,225.5
Automobile 386.9 388.5 388.5 390.3 390.5 390.6 390.0 394.0 394.4 398.0 400.4 399.8 400.2
Revolving 484.8 490.3 495.7 498.0 505.3 510.7 509.6 512.8 514.3 514.6 521.0 524.1 526.1
Other 3 302.2 300.8 299.6 295.7 298.9 301.2 305.1 306.0 305.0 300.8 297.8 299.7 299.3

Percent except as noted: not seasonally adjusted
Institution, terms, and type of loan
Commercial banks
Interest rates
48-mo. new car n.a. n.a. 9.03 n.a. n.a. 8.92 n.a. n.a. 9.20 n.a. n.a. 8.99 n.a.
24-mo. personal n.a. n.a. 13.62 n.a. n.a. 13.46 n.a. n.a. 13.81 n.a. n.a. 13.84 n.a.
Credit card plan
All accounts n.a. n.a. 15.62 n.a. n.a. 15.88 n.a. n.a. 15.75 n.a. n.a. 15.78 n.a.
Accounts assessed interest n.a. n.a. 15.52 n.a. n.a. 15.13 n.a. n.a. 15.72 n.a. n.a. 15.79 n.a.

New car loans at auto finance companies
Interest rates 10.52 10.40 10.31 8.60 7.17 7.44 8.08 8.56 7.80 7.64 6.71 5.93 6.12
Maturity (months) 51.9 52.5 52.3 52.3 55.1 54.6 53.5 52.8 53.2 53.3 54.6 55.5 55.4
Loan-to-value ratio 91 89 90 90 92 92 90 91 93 93 94 93 93
Amount financed (dollars) 17,182 17,435 17,719 17,670 17,090 16,837 17,198 17,620 18,060 18,171 18,281 18,329 18,520
This release is issued around the fifth business day of each month. The exact date and time may be obtained by calling (202) 452 – 3206.
Footnotes appear on reverse.

(Billions of dollars)
Not seasonally adjusted

1996 1997
::::::_ ::::::::::::::_

Sept. Oct. Nov. Dec. Jan. r Feb. r Mar. r Apr. r May r June r July r Aug. r Sept. p

Total 1,177.3 1,180.2 1,190.3 1,214.9 1,204.4 1,196.7 1,193.2 1,200.9 1,203.6 1,207.7 1,212.3 1,223.8 1,229.0

Major holders
Commercial banks 517.1 521.3 523.0 529.4 525.5 518.5 511.3 515.5 515.5 513.0 516.7 518.3 509.6
Finance companies 154.6 151.4 151.0 152.4 153.5 153.3 153.0 151.9 154.2 155.8 156.1 157.5 158.2
Credit unions 140.9 143.0 143.3 144.1 144.2 143.4 143.9 145.6 146.7 147.6 149.0 150.2 151.0
Savings institutions 44.9 44.9 44.8 44.7 45.1 45.5 45.9 46.2 46.6 47.0 47.4 47.4 47.9
Nonfinancial business 68.5 68.0 69.8 77.7 73.6 70.6 70.0 69.4 67.7 68.0 67.6 68.6 68.5
Pools of securitized assets 5 251.2 251.7 258.4 266.5 262.5 265.4 269.2 272.2 272.8 276.2 275.4 281.8 293.8

Major types of credit 6
Automobile 390.4 392.7 392.1 393.2 389.3 387.3 386.3 389.5 391.2 397.1 400.5 402.1 403.8
Commercial banks 153.1 154.8 154.8 154.0 153.0 151.8 150.5 151.2 151.8 152.5 154.3 155.0 153.4
Finance companies 88.7 88.0 87.6 86.7 86.8 87.1 85.8 83.2 85.1 87.0 88.3 88.4 88.6
Pools of securitized assets 5 49.5 49.2 49.3 52.4 49.5 48.2 49.3 53.5 51.5 53.7 53.4 53.2 55.5

Revolving 483.3 487.5 497.8 522.9 513.5 508.6 503.0 505.3 509.4 511.3 515.9 522.2 524.5
Commercial banks 211.2 215.0 217.9 228.6 223.2 215.8 207.3 209.3 212.8 213.3 219.0 217.5 209.4
Finance companies 29.4 29.6 29.9 32.5 32.3 32.2 33.2 34.3 34.4 34.0 33.1 33.6 33.1
Nonfinancial business 38.8 38.1 39.3 44.9 41.9 39.8 39.4 39.0 37.1 37.3 36.8 37.6 37.7
Pools of securitized assets 5 178.0 178.6 184.0 188.7 187.9 192.3 194.5 193.8 195.8 196.7 196.6 202.5 213.0

Other 303.5 299.9 300.4 298.8 301.6 300.8 303.9 306.0 302.9 299.3 295.9 299.5 300.7
Commercial banks 152.8 151.4 150.2 146.8 149.3 150.9 153.5 155.1 150.9 147.2 143.5 145.9 146.8
Finance companies 36.5 33.8 33.6 33.2 34.4 34.0 34.0 34.3 34.7 34.8 34.7 35.4 36.6
Nonfinancial business 29.7 29.8 30.5 32.8 31.7 30.8 30.5 30.4 30.7 30.7 30.8 31.0 30.8
Pools of securitized assets 5 23.7 23.9 25.1 25.4 25.1 24.9 25.3 24.9 25.5 25.8 25.4 26.1 25.3

1. Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
2. Percent changes calculated from unrounded data.
3. Comprises mobile home loans and all other loans not included in automobile or revolving credit, such as loans for education, boats,
trailers, or vacations. These loans may be secured or unsecured.
4. Interest rates are annual percentage rates (APR) as specified by the Federal Reserve’s Regulation Z. Interest rates for new-car loans
and personal loans at commercial banks are simple unweighted averages of each bank’s most common rate charged during the first calendar
week of the middle month of each quarter. For credit card accounts, the rate for all accounts is the stated APR averaged across all
credit card accounts at all reporting banks. The rate for accounts assessed interest is the annualized ratio of total finance charges at
all reporting banks to the total average daily balances against which the finance charges were assessed (excludes accounts for which no
finance charges were assessed). Finance company data are from the subsidiaries of the three major U.S. automobile manufacturers and are
volume-weighted averages covering all loans of each type purchased during the month.
5. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of
the loan originators.
6. Includes estimates for holders that do not separately report consumer credit holding by type.
r=revised. p=preliminary.


Advanta Still Rated Negative

Standard & Poor’s ratings of Advanta Corp. and its subsidiaries still remain on CreditWatch with negative implications. The senior bank notes, subordinated notes, and CD’s of Advanta National Bank remain on CreditWatch with developing implications following the announcement of a proposed transfer of its credit card business to a Fleet Financial Group subsidiary. Following a more detailed review of the company’s sub prime mortgage business as well as its small business leasing operations, Standard & Poor’s believes that the senior debt and counterparty ratings of Advanta Corp. should go no lower than single-‘B’-plus and the senior bank notes of Advanta National Bank should go no lower than double-‘B’ minus. The transaction is anticipated to close by late 1997 or early 1998, Standard & Poor’s.

Advanta Corp.
Senior unsecured debt BB
Preferred stock B+
Long-term counterparty BB
Short-term counterparty B
Advanta National Bank
Long- term counterparty BB+
Short-term counterparty B
Advanta Capital Trust I
Preferred stock B+
Advanta National Bank
Senior Bank Notes BB+/B
Subordinated Bank Notes BB-/B


Another Holiday Projection

Holiday sales should be up 3%-4% this year acording to a study released this weekend by the International Mass Retail Association. The ‘1997 IMRA Holiday Shopping Study’ indicates 58% of consumers expect to spend the same as last year or about $813 per family. Three-fourths of consumers say they will make Christmas purchases at discount department stores. The VISA-sponsored IMRA study says this year’s hot toy products will include the Interactive Barney, Sleep and Snore Ernie, Holiday Barbie, Hot Wheels and Star Wars collectibles.


SpeedPass Upshifts

The ‘Mobil SpeedPass’ program will expand to New York and Baltimore this morning. Mobil also announced today it will introduce the next generation of ‘SpeedPass’ technology for some of its current markets. Announced one year, ‘Mobil SpeedPass’ was introduced as contactless payment system using a key tag transponder attached to the driver’s key chain. Beggining today drivers in New England and Washington, DC will also be offered a car tag transponder which attached to the rear windshield which immediately activates the pump. To enroll in ‘SpeedPass’ consumers simply designate a credit card for payment and complete an enrollment form via a toll-free 800#, Mobil’s Web Site or from take-ones at participating service stations. Mobil does not charge a usage fee.


Advanced Call Center

Scopus Technology unveiled its new call center solution today, staking the claim as the world’s first call center solution speciallfy tailroed to adress the customer acquisition and retentio challenges faced by financial services organizations. ‘Scopus Finance Central’ is a pre-packaged suite of customer care applications including automated workflow, seamless intetgration and intelligent call guides. The package also incorporates best practices and relationship-centric sales processes. Scopus says ‘Finance Central’ builds on its current customer care systems experience with VISA, Bank of America, Fleet, ABN Amro, Bank of Indonesia and Nedcor.


Outer Space Card Transactions

What’s more important than voting from outer space at this time of year? Shopping. While circling the world at approximately 17,000 mph and 200 miles above Earth, Flight Commander Anatoly Solovyev and Flight Engineer Pavel Vinogradov got a head start on filling their families’ holiday wish lists. With the help of Virtual Emporium and Mission Control near Moscow, the Cosmonauts have selected everything from Gateway computers to Chicago Bulls Sportswear with their Visa bank card account.

“Our mission is to make shopping easy for everyone, no matter where they are,” said Tuck Rickards, founder and CEO of Virtual Emporium, a pioneer in online shopping. “If you can vote from outer space, you ought to be able to shop from outer space.”

The Cosmonauts have been in orbit for more than 90 days, and will not return until mid-February. The Mir core capsule was launched in 1986, and this is the first time that Cosmonauts onboard ever have selected products to send to loved ones for the holidays.

Flight Engineer Pavel Vinogradov said, “The opportunity to personally select holiday gifts myself brings our loved ones closer and is especially meaningful to us, and it is much better than shopping on a cold Moscow day.”

Using Virtual Emporium’s online Personal Shopper application, the Mir Cosmonauts have selected a Gateway personal computer, a Nordic Track exercise machine, Barbie dolls, telephones, and Chicago Bulls sportswear, to name a few.

At 12:30pm est. Virtual Emporium expects to receive confirmation of their requests electronically at its NYC Store via Energia LTD and Mission Control. At that time, these items will be purchased through Virtual Emporium’s shopping service at using the Cosmonauts’ Visa bank card account. The Cosmonauts will also become permanent members of the Virtual Emporium community by registering for Firefly Passports. Virtual Emporium will be using Firefly’s Passport Office software to offer customers unique, personalized shopping experiences.

“We are grateful to Virtual Emporium for bringing the holiday spirit to the space station, but can you help my family get my presents to me?” said Flight Commander Anatoly Solovyev.

Virtual Emporium, Inc., based in Cambridge, Mass., is a leading online shopping community that packages cutting-edge, consumer-oriented technologies with links to the best secure Web merchants. Its online shopping service at and its flagship store at 412 Columbus Avenue in New York City allows consumers to access the top 250 online merchants using a revolutionary shopping interface with a price comparison tool, gift finder, merchandise showcases, and shopping news.

RSC Space Corporation Energia (RSC Energia, ) is Russia’s oldest space organization. RSC Energia operates the Mir space station, manufactures the Proton booster’s Block D upper stage and maintains other support facilities for the Russian Space Agency. The Company is also the prime contractor for the Russian segment of the International Space Station.


First Annapolis Hires Risk Expert

Daniel Kreis has joined First Annapolis Consulting as a Senior Associate. Mr. Kreil will head the consumer and small business risk management services of First Annapolis Consulting. He will specialize in target marketing, loan fulfillment, credit underwriting, decision systems and account management strategies.

Mr. Kreis has 15 years of risk and operations management experience. He has worked with clients in the credit card, installment load, leasing, retail, utility and finance industries. His experience includes risk management responsibility for the credit card portfolios of First National Bank of Maryland and PNC. Previously, he was the regional director of the Mid-Atlantic and Mexican markets for Fair, Isaac and Company, Inc.

Fred White, President, states “We are delighted to have Dan join our team, and expect that the credit and risk management experience that he brings will be of great value to our clients.” Mr. Kreis is a published author and frequent speaker on risk management topics. He holds a B.A. in Economics and Finance from the University of Maryland at Baltimore County.

First Annapolis Consulting is a full-service, general management consulting firm specializing in financial services, specifically credit card issuing, merchant acquiring, private label card, commercial card, electronic banking and mortgage banking. The company offers a variety of services including planning, financial analysis and management, marketing strategy and research, operations planning and re-engineering, and general management advisory services. Our subsidiary corporation, First Annapolis Capital, privides merger and acquisition advisory services related to credit cards, ATMs, and other electronic banking businesses.