Key Projects

Wells Fargo Bank turns to RTM for the “15 Minute Loan Program”

The Challenge

As the popularity of the Internet soared, Wells Fargo found itself facing increasing competition from Web-based mortgage loan originators. To fend off this threat to its customer base and to serve mortgage customers more effectively, Wells Fargo needed a Web-based mortgage application process that would stand out from the competition.

The Solution

RTM implemented the “15 minute loan” program for Wells Fargo. This program allows a consumer to complete a mortgage loan application through the Wells Fargo Web site and receive preliminary approval within 15 minutes. RTMG created the Web page design and integrated the loan application process with the bank’s databases and interfaces to credit reporting and scoring services, providing Wells Fargo with a product more responsive and easier to use than those from Web-only loan originators.

Background

Wells Fargo is one of the oldest and most respected names in banking. Wells Fargo has $370 billion in assets and 136,000 team members, ranked fourth in assets at March 31, 2003, among its peers. With the acquisition of Norwest Bancorp of Minneapolis, Wells Fargo became a national leader in mortgage lending.

Overcoming Performance Problems

The Challenge

RTM integrated the Nashville center to the Fastrak X.25 clearing network for swipe terminal transactions. This enabled First Data to redeploy the systems in Nashville to process the new POS transaction stream, thus preserving and increasing its share of the transaction processing market.

The Solution

First Data found that its Nashville credit card payment clearing center was isolated from the emerging global networks for transaction processing. As more credit card transactions migrated from paper charge slips to point-of-sale card swipe terminals, the Nashville center’s capabilities were becoming underutilized.

Background

Since its flagship subsidiary Western Union Financial Services, Inc. pioneered the first electronic money transfer in 1871, First Data has been sending money safely, securely, and reliably. From that auspicious beginning to becoming the first processor of both VISA® and MasterCard® bank-issued credit cards in 1976, First Data has been instrumental in every development involving the electronic transfer of money. Whether by linking banks through the first ATM network (1981) or forming partnerships that created the earliest Internet portals, First Data has been erasing geographic boundaries to connect people across the globe.

Designing Interactive TV Products

The Challenge

With the internet fast becoming a force in consumer entertainment, RCA needed an entry into the internet-enabled interactive television market that would marry their existing internet and television expertise.

The Solution

RTM designed the reference architecture for Internet TV devices that were then used to actually launch the first interactive TV product. This set-top box eventually became the basis for both the WebTV product and company, which was later acquired by Microsoft.

Background

With its flagship RCA and GE brand names, Thomson manufactures and markets color TV sets, VCRs, digital satellite decoders, DVD players, camcorders, home audio systems, telephones, and a myriad of accessories. As the world’s largest supplier of large/ very large color TV picture tubes, they actively develop new digital entertainment products that allow consumers to interact with new media through the internet and other digital systems. Developing and renewing itself by taking advantage of converging technologies and markets in television, computers, and telecommunications, Thomson invests in such high value-added activities as components and new television-related services as electronic program guides, interactive TV, and home internet access products.

Assessing The Technical Viability of Prospective Investments

The Challenge

As Cargill’s businesses evolved into new areas, the company formed a venture funding group specifically to evaluate and create investment opportunities to complement Cargill’s core businesses.

The Solution

RTM provided expert guidance on whether current and/or prospective portfolio candidate companies had the necessary technology infrastructure in place. Specific evaluation included whether technology assets and skill deficiencies posed any long-term challenges to the companies’ viability.

Background

Cargill, the largest privately-held corporation in the world, is an international marketer, processor and distributor of agricultural, food, financial and industrial products and services with 97,000 employees in 59 countries. The company provides distinctive customer solutions in supply chain management, food applications, and health and nutrition.