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CDYNE Corporation Brings XML Web Services to Debt Collection

Posted on: Thursday, 28 May 2009, 11:13 CDT

Launch of CKS Financial Combines IT and Debt Recovery Experience

CHESAPEAKE, Va., May 28 /PRNewswire/ -- CDYNE Corporation, a leading provider of data enhancement, verification, and communication Web services since 1999, announced today that it has launched a consumer debt collection arm operating under the name CKS Financial, LLC, and it will be combining the expertise of the two companies to introduce tailored XML Web services to the collections industry.

CDYNE acquired Sanders & Associates, a collection agency based in Virginia Beach, Virginia, in April 2009, in order to form the new subsidiary. CKS Financial is a full-service debt recovery agency that purchases consumer debt portfolios from and offers contingency collections to merchants, service providers, government entities, and other organizations that extend credit. CKS Financial is committed to highly ethical and professional standards, practicing the most advanced methods for effective portfolio management.

In creating CKS Financial, CDYNE is able to use its 30 years of experience in the fields of debt recovery and IT to generate new opportunities, by combining consumer debt collection with cutting-edge Web technology in the form of SAAS (software as a service), or tech industry trend "cloud computing". Specific CDYNE XML Web services used in financial applications include 411 lookup, email, phone, and address verification; all of which can be utilized to skip trace debtors.

"The acquisition of Sanders & Associates and outgrowth of CKS Financial provide us with an excellent platform to expand our current and future product offerings into the financial services industry," says Jim Keown, President and CEO of CDYNE Corporation. "Our experience in debt acquisitions and collection operations and systems makes this a natural fit. We are very pleased that John Sanders has agreed to our offer and will stay on to assist us in developing our software as a service (SAAS) products for the collections industry. Our wide range of data enhancement, correction, fraud screening and communications services are easily consumed in nearly any collection software suite. We will be evolving these products using our own collections department and bringing them to market at our traditional pay-as-you-go pricing."

About CDYNE Corporation

Since 1999, CDYNE has been a leading provider of Web service solutions encompassing a range of data enhancement, data verification, and communications tools and using XML-based technologies to ensure cross-platform compatibility. CDYNE Web Services include Phone and SMS (text) Notify!; Postal Address, Phone and Email Verification; Demographics; 411; Death Index; and IP2Geo - which pinpoints geographic location by IP address. These services help prevent fraud in real-time during the application or transaction process, append information to customer records, enable targeted marketing, and allow fast and easy contact of staff, students, customers, and others in any situation. Programmed into client systems (including POS), applications, and Web sites to enhance their operations, CDYNE Web Services process information from CDYNE's vast databases in fractions of a second. The Company's transaction-based billing model allows clients to save money by purchasing only what is consumed. CDYNE provides its services to numerous industries, including E-Commerce, Sales and Marketing, Insurance, Retail/Service Industry, Utilities, Government, Healthcare, and Banking/Finance. For more information, visit www.cdyne.com or call 1-800-984-3710. For more information on CKS Financial, please visit www.cksfin.com or call 1-800-984-3711.

Contact: Elizabeth Rack Tel: 757-544-9510 x3108 Email: ecr@cdyne.com www.cdyne.com

SOURCE CDYNE

Source: PR Newswire

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