A-Mark Precious Metals’ Secured Lending Subsidiary, Collateral Finance Corporation, Launches Enhanced Website and Expanded ...
May 22 2019 - 8:00AM
Collateral Finance Corporation (CFC), a California
licensed finance lender and a subsidiary of
A-Mark Precious
Metals, Inc. (NASDAQ: AMRK), a leading full-service
provider of products and services to the global precious metals
market, today launched a redesigned website (www.CFCGoldLoans.com).
The combination of the new website and a recently introduced online
application and account management system is expected to both
greatly enhance the customer experience and position CFC to grow
its loan portfolio. These improvements are consistent with A-Mark’s
broader corporate strategy of deploying class-leading technology
across its platform.
The new website presents CFC’s loan program in an engaging
format that informs potential borrowers of how they can realize
bullion and numismatic liquidity without having to sell their
assets. Visitors to the website are encouraged to complete an
online loan application while existing customers can log in to
their accounts to pay invoices by the Automated Clearing House
(ACH) Network, bank wire or credit cards. Depending on market
conditions and other factors, customers may also request additional
borrowings.
CFC’s new digital platform has been designed to integrate into
the websites of leading third-party dealers that want to offer
precious metal loans to their customers. Whether under the CFC
banner or “white labeled” with the name of a dealer partner, these
programs are expected to expand CFC’s customer base by introducing
a notably larger number of precious metals holders to CFC’s loan
program. CFC anticipates its first platform integration with a
third-party dealer will go live later this year.
“CFC is excited to launch its new website that has been designed
to complement its recently introduced online application and
account management engine,” said Steve Reiner, A-Mark’s EVP of
Finance Products & Ancillary Services. “These impactful and
highly-differentiated resources, when combined with CFC’s
approximately 15 years of market leadership and the financial
wherewithal provided by the $100 million asset backed
securitization that A-Mark closed last year, provide CFC with a
powerful mix of consumer awareness, user-friendly platforms and the
financial resources to expand its collateralized lending
business.”
Armik Zakian, Chief Information and Digital Transformation
Officer at A-Mark, added: “The launch of CFC’s new website marks
the latest initiative in our overall strategy of injecting
technological innovations into the A-Mark ecosystem. These
improvements will help us to efficiently secure new business,
provide our customers with an improved experience and establish an
environment for continuous innovation.”
About A-Mark Precious MetalsFounded in 1965,
A-Mark Precious Metals, Inc. (NASDAQ: AMRK) is a leading
full-service precious metals trading company and wholesaler of
gold, silver, platinum and palladium bullion and related products.
The company’s global customer base includes sovereign and private
mints, manufacturers and fabricators, refiners, dealers and online
retailers, financial institutions, industrial users, investors,
collectors and retail customers. The company conducts its
operations through three complementary segments: Wholesale Trading
& Ancillary Services, Secured Lending and Direct Sales.
A-Mark operates several business units in its Wholesale Trading
& Ancillary Services segment, including Industrial, Coin and
Bar, Trading and Finance, Transcontinental Depository Services
(TDS), Logistics and Mint. Its Industrial unit services
manufacturers and fabricators of products utilizing precious
metals, while its Coin and Bar unit deals in over 200 different
products for distribution to dealers and other qualified
purchasers. As a U.S. Mint-authorized purchaser of gold, silver and
platinum coins, A-Mark purchases bullion products directly from the
U.S. Mint for sale to customers. A-Mark also has distributorships
with other sovereign mints, including in Australia, Austria,
Canada, China, Mexico, South Africa and the United Kingdom. Through
its TDS subsidiary, A-Mark provides customers with storage and
management solutions for precious metals worldwide. Through its A-M
Global Logistics subsidiary, A-Mark provides customers an array of
complementary services, including storage, shipping, and delivery
of precious metals and custom coins on a secure basis. A-Mark also
holds a majority stake in a joint venture that owns the minting
operations known as SilverTowne Mint, which enables A-Mark to mint
proprietary products as well as provides greater access to
fabricated silver products.
The company operates its Secured Lending segment through its
wholly-owned subsidiary, CFC. Founded in 2005, CFC is a California
licensed finance lender that originates and acquires loans secured
by bullion and numismatic coins. Its customers include coin and
precious metal dealers, investors and collectors.
A-Mark operates its Direct Sales segment through its
wholly-owned subsidiary Goldline Inc., a direct retailer of
precious metals to the investor community. Goldline markets
A-Mark’s precious metal products through various channels,
including radio, television and the Internet.
A-Mark is headquartered in El Segundo, California and with
offices and facilities in Vienna, Austria and Las Vegas, Nevada.
For more information, visit www.amark.com.
Company Contact:Thor Gjerdrum, PresidentA-Mark
Precious Metals, Inc.1-310-587-1414thor@amark.com
Investor Relations Contact:Matt GloverGateway
Investor Relations1-949-574-3860AMRK@gatewayIR.com
A Mark Precious Metals (NASDAQ:AMRK)
Historical Stock Chart
From Mar 2024 to Apr 2024
A Mark Precious Metals (NASDAQ:AMRK)
Historical Stock Chart
From Apr 2023 to Apr 2024