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E-LOAN Selects PeopleSupport as Outsourcing Provider for Auto
Loan Unit
LOS ANGELES, Dec. 15 /PRNewswire-FirstCall/ -- PeopleSupport, Inc.
(NASDAQ:PSPT), an offshore business process outsourcing (BPO) provider that
offers customer management and accounts receivable management services for
U.S.-based clients from its facilities in the Philippines, today announced that
it has been selected as an outsourcing provider for the Auto Loan Unit of
E-LOAN(R) (NASDAQ:EELN), an online consumer direct lender. PeopleSupport eReps
based in the Philippines perform information verification checks for
underwriting and fraud prevention purposes for E-LOAN auto loan customers.
"We are delighted that E-LOAN, a company known for high caliber customer
support, chose PeopleSupport as its offshore BPO provider for its Auto Loan
Unit," said Lance Rosenzweig, PeopleSupport's Founder, Chairman and Chief
Executive Officer. "The 2-year agreement, a strategic win for PeopleSupport,
will help strengthen our traction in the financial services industry and
provide the basis for others in the industry to outsource their customer
management needs to PeopleSupport. We look forward to strengthening and
deepening our relationship with E-LOAN by providing an exceptional service
experience to E-LOAN's customer base."
"Engaging in offshore outsourcing has become a competitive reality for our
industry," said Chris Larsen, E-LOAN's Chairman and Chief Executive Officer.
"Successfully competing on this level depends upon making our BPO program
transparent to consumers and working with a trusted partner with a proven track
record. PeopleSupport is a perfect fit because of its excellent reputation and
commitment to upholding E-LOAN's industry leading consumer privacy and security
standards. With this foundation, we are confident that this strategic
relationship will benefit E-LOAN and our customers by improving cost
efficiencies and enhancing our service capabilities."
E-LOAN discloses its outsourcing programs to consumers and provides them with
the opportunity to opt-out before they complete their application.
PeopleSupport is bound by strict privacy and security standards, which include
the prohibition of selling, sharing or retaining sensitive customer
information. In addition, PeopleSupport uses an IPSec encrypted connection to
provide the highest level of security.
About PeopleSupport
PeopleSupport, Inc. (NASDAQ:PSPT), is an offshore business process outsourcing
(BPO) provider that offers customer management services for U.S.-based clients
from its facilities in the Philippines. PeopleSupport also provides accounts
receivable management services and is planning to provide other back office
management services. PeopleSupport is one of the largest outsourced service
providers in the Philippines based on the size of its workforce, with over
3,500 college-educated, fluent English speaking Philippine personnel.
Headquartered in Los Angeles, California, PeopleSupport provides services to
clients in a variety of industries, including travel and hospitality,
technology, telecommunications, retail, consumer products and financial
services. For more information, visit http://www.peoplesupport.com/.
Forward-Looking Statements
Certain statements in this press release, including, without limitation, those
related to PeopleSupport's expectations about its relationship with E-LOAN, are
forward-looking statements that are based on current expectations and that
involve risks and uncertainties. Risks and uncertainties may cause results to
differ materially from those expected. Factors that could cause the
anticipated results to differ from those expected include: the company's
ability to successfully deliver the service levels required in its agreement
with E-LOAN; a reduction in demand for E-LOAN's services that could reduce the
demand for the company's services to E-LOAN; unanticipated technological
changes and requirements; risks generally associated with operations in the
Philippines; changes in government regulations related to handling financial
transactions offshore; and other risks identified from time-to-time in the
company's SEC filings. These forward-looking statements represent estimates
and assumptions only as of the date they are made. The company undertakes no
obligation to update or revise these forward-looking statements to reflect
circumstances or events that occur after the date the forward-looking
statements were made. You should review the risks described in reports and
registration statements that the company files from time to time with the SEC
to better understand the risks the company faces.
About E-LOAN
E-LOAN is an online consumer direct lender dedicated to providing borrowers
across the credit spectrum with a more enjoyable and affordable way to obtain
mortgage, auto and home equity loans. By making credit scores freely available
to consumers and integrating them with a suite of sophisticated advice tools,
E-LOAN is pioneering the nascent debt management advice category -- helping
consumers proactively manage their loan portfolios to lower their overall
borrowing costs. The company relentlessly advocates eliminating the
unnecessary processes, fees, hassle, haggle and lack of transparency
traditionally associated with the consumer loan experience. Protecting
consumers' financial privacy is a paramount concern, prompting E-LOAN to
implement industry leading privacy practices and advocate strong consumer
financial privacy protection laws. In June 2004, an independent study
conducted by TRUSTe and The Ponemon Institute ranked E-LOAN as one of the top
20 most trusted companies for privacy in America. E-LOAN was the highest
ranked online financial services company to make the top 20.
Consumers can log onto http://www.eloan.com/ or call 1-888-E-LOAN-22 to access
E-LOAN's products, services and team of dedicated loan and debt advice
professionals. E-LOAN is publicly traded on the Nasdaq National Market under
the symbol EELN. From inception through September 2004, E-LOAN has originated
and sold over $22.8 billion in consumer loans.
DATASOURCE: PeopleSupport, Inc.
CONTACT: Peter Hargittay, Marketing and Communications of PeopleSupport,
+1-310-824-6182, fax, +1-310-824-6299, ; or
Tiffany Fox, Public & Investor Relations of E-LOAN, +1-925-847-6314,
Web site: http://www.eloan.com/
http://www.peoplesupport.com/