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I am wondering if their are any nFront or Digital Insight employees on this board? Also some info on ATA, here is the local "Press Release" that was issued and the link. (link: ,Copyright © The Sacramento Bee)

AnyTime Access sold for $140 million: Capital firm deals in loans by phone
By Clint Swett
Bee Staff Writer
(Published April 1, 2000)

AnyTime Access, the fast-growing Sacramento company that specializes in processing loans via the phone, has been sold to a Southern California company for $140 million in stock.

AnyTime agreed to be purchased by Digital Insight Corp., a Calabasas-based firm that helps financial institutions set up online banking operations. AnyTime will become a division of Digital Insight and continue to operate its call centers in Sacramento at current staffing levels of about 180 people. AnyTime's founder and chief executive officer, Tom Bollum, will become general manager of the new division.

Bollum called the sale a boon for AnyTime, saying it would help the division accelerate its growth dramatically. Digital Insight offers Internet banking services to more than 700 banks and other financial institutions worldwide, including the Golden One credit union in Sacramento.

Though the majority of AnyTime's stock is held by institutional investors, venture capitalists and Bollum, most employees have stock or stock options, which will convert to Digital Insight stock once the deal is completed within about 60 days. But Wall Street was not as bullish on the deal as Bollum. Digital Insight's stock closed Friday at $51.25, down $6.75.

Kevin McDonnell, Digital Insight's chief financial officer, said his company made the purchase to add to its portfolio of services for the banking industry. Beyond developing and hosting Internet banking operations, the company is expanding into online lending and will now offer by-phone loan processing using Anytime's staff of 110 loan officers.

According to McDonnell, a typical transaction might go like this: A customer logs onto a bank's Web site, which is operated by Digital Insight, and go to a loan page. After filling out an online loan application, the customer could either be accepted or rejected by special loan-evaluation software, depending on whether he or she met the bank's lending criteria.

If the application fell into a gray area, the customer would be asked to call an 800-number, which would be answered by an AnyTime Access employee, who would ask further questions to evaluate the loan, McDonnell said.

That function will supplement work AnyTime will continue to do -- handling loan applications for about 170 financial institutions across the United States.

Founded in 1989, AnyTime Access moved to Sacramento from San Jose in 1993. Since then it's grown rapidly, expanding from 10 credit union clients in 1996 to 170 today. Its 1999 revenues totaled about $12 million. As a private company, AnyTime does not disclose its profits or losses.

Digital Insight, with about 300 employees, had 1999 revenue of $17.5 million and posted a loss of $6.3 million for the year.
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