A-Mark Precious Metals’ Secured Lending Subsidiary, Collateral Finance Corporation, Launches Enhanced Website and Expanded Digital Platform
EL SEGUNDO, Calif., May 22, 2019 (GLOBE NEWSWIRE) -- 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 (). 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 Metals
Founded 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 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 , 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, . 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 , 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 .
Company Contact:
Thor Gjerdrum, President
A-Mark Precious Metals, Inc.
1-310-587-1414
Investor Relations Contact:
Matt Glover
Gateway Investor Relations
1-949-574-3860
