CLEARWATER, Fla.--(BUSINESS WIRE)--May 11, 1999--
Pinnacle Business Management, Inc. (OTC BB:PCBM) (http://www.pcbm.com) announced Tuesday the development of integrated E-Commerce and franchisee administration software using advanced Extranet and Internet technologies. PCBM clients will be able to pre-apply over the Internet in private, from a home-based computer, a public PC such as those found in a Public Library or a Pinnacle location. The application can then be retrieved from a central data bank by the lending location of choice. This will significantly reduce transaction time in retail loan locations for both management and Pinnacle's loan clientele. The system is multilingual, fitting the loan application screens to the language preference of loan clients.
The program family, referred to as E-MAQ, contains proprietary backbone and application technologies. E-MAQ is intended to become an integral part of PCBM, to be used by franchisees, licensees and company stores alike. It includes all phases of loan application, the approval process, cash administration, loan tracking, internal ATM support and support of the Pinnacle Cash Card. PCBM is beta-testing E-MAQ on its own operations and administration. The proprietary software will then be licensed through alliances with firms already engaged in the sale and maintenance of related products. Release dates are pending.
"With flexibility, capacity and security built into E-MAQ, Pinnacle Business Management is able to maintain and control its growth over the next five years. The ability to fully track operations at thousands of locations and the development of a secure, full-scale transaction management system, as well as a branded Cash Card vehicle for our company are major achievements, crucial to our future success. PCBM is also in discussions regarding several significant licensing strategic alliances," said Bruce Hall, President of Pinnacle Business Management, Inc.
Pinnacle Business Management, Inc. will use the ongoing growth of E-Commerce popularity to enable its retail clients to easily use personal checks or Pinnacle's easily available, branded Cash Card on the Internet. The realm of E-Commerce can then include consumers who cannot, do not, or will not use Credit Cards for purchases. This proprietary technology will also enable merchants to be paid faster, and goods will be shipped sooner.
Pinnacle Business Management, Inc. intends to consolidate a fragmented industry with over 6,000 independent companies into a cohesive, self-contained consumer cash resource. In order to effect its growth strategies, Pinnacle Business Management, Inc. is expanding its market penetration through aggressive pursuit of acquisitions, rollups, affinity franchises and licensing.
Pinnacle Business Management, Inc. (OTC BB: PCBM - http://www.pcbm.com) is a publicly traded holding company. It operates through its subsidiaries Fast Title Loans, Inc. and Fast Paycheck Advance, Inc. which are both consumer lending divisions, Summit Property Group, Inc., a commercial real estate division, and a Franchising/Licensing division. These combine a strong asset and technology base, and a strong consumer finance organization, which contribute to increased income and shareholder wealth. Pinnacle Business Management, Inc. can be described as being in the business of lending money on motor vehicle titles and advancing small loans payday, with an increasing position in commercial real estate.
