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Community - Java Success Stories KeyCorp, one of the largest financial services companies in the U.S. is developing a new electronic commerce application that will let consumers finance new cars over the Internet. The new Java-based Key Auto Finance Loan Origination system will offer car buyers various options for making a purchase over the 'net.

Company: KeyCorp
Location: Cleveland, Ohio
Industry: Banking & Finance
URL: http://www.keybank.com

Customers will be able to shop for a new car online, as part of an alliance between KeyCorp and Auto-By-Tel (www.autobytel.com), from the comfort of their home or office. Through a series of simple clicks on Auto-By-Tel's Web page, the car buyer will be able to apply for an auto loan. Auto-By-Tel reviews these applications and prepares them for automatic processing by sending them to KeyCorp and other participating lenders via the WWW.

As a loan request comes in from the Internet, the data is entered into one of KeyCorp's IBM mainframes using IBM's CICS transaction processing software. IBM CICS Gateway for Java software ensures that they loan application can be linked with any database, server or back-end processing system at KeyCorp. This solution relies on NetDynamics server software and IBM RS/6000 UNIX servers to enable KeyCorp's existing IT systems to be extended for use in new electronic commerce transactions.

KeyCorp also plans to make a version of Key Auto Finance's Loan Origination system available to more than 6,000 automobile dealers and 1,500 recreational vehicle dealers. With this system, dealers will be able to offer automatic loan processing over the Internet to customers from their Sales Department computers. Auto loan pre-approval service over the Internet will also be offered direct to consumers from the Key AutoFinance Web site later this year.

Key companies have a presence in 46 states, including its network of KeyCenters, 1,900 ATM's, affiliate offices, and four telebanking centers (1-800-KEY2YOU) that provide financial products and services 24 hours a day, every day of the year. KeyCorp's Web site can be found at http://www.keybank.com .



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