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Company
Overview
COMPANY OVERVIEW: Description NextCard, Inc., the leading issuer of consumer credit online, capitalizes on the power of the Internet to deliver unique services to the online consumer. Our company was the first to offer instant online credit card approval and provide consumers with a choice of customized offers based on their unique credit profile. NextCard provides innovative services that improve the online experience for its cardholders. NextCard's sophisticated online account management tools enable cardholders to check their account balances and history, and pay their bills online anytime. The NextCard 100% Safe Shopping PledgeSMprotects customers from credit card fraud anywhere they shop, world- and Web-wide. Finally, the NextCard Low Price GuaranteeSM ensures that cardholders get the lowest prices when they shop online or NextCard will pay the difference. Simply put, NextCard is the easiest way to buy anything online. Recognized for direct marketing expertise and exceptional online customer service, NextCard has exclusive card relationships with leading online brands, including Amazon.com, PlanetOut and MyPoints. As one of the top direct marketers on the Web, NextCard operates a network of more than 90,000 affiliates and also publishes the NextCard eCommerce IndexSM, the premier source of online purchase activity. According to the 2001 Brittain Associates "Credit Cards on the Net" study, NextCard leads the online credit card market with a 26 percent share. In addition, NextCard was named the No. 1 Internet credit card four times out of five by GomezTM. Headquartered in San Francisco, CA, NextCard has operations in Livermore, CA, and Phoenix, AZ. NextCard is listed on the NASDAQ under the ticker symbol NXCD. The company is also listed on the Russell 2000, Russell 3000 and the NASDAQ Financial 100 Index. NextBank N.A., http://www.nextbank.com/, is a wholly owned subsidiary of NextCard, Inc. Headquarters: NextCard, Inc. 595 Market Street, Suite 1800 San Francisco, CA 94105 (415) 836-9700 nextcard@nextcard.com | ||||||||||||||||||
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COMPANY OVERVIEW: Corporate Facts
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CORPORATE OVERVIEW: Products/Brands NextCard credit cards can be managed completely online, from
application and approval, to account review and payment. With our
sophisticated IT system, NextCard can process credit card and financing
applications online and grant approval in less than 30 seconds. Applicants
can choose pricing terms that best suit their needs and can lower their
Finance Charges by transferring existing card balances to NextCard.
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COMPANY OVERVIEW: Customer Service Commitment At NextCard, we are committed to innovation, value and exceptional service. We leverage Internet technology to provide cardholders with online account management tools and an Internet-enabled call center, 24-hours a day, seven days a week. This ensures that NextCard cardholders have easy access to their account information at anytime, anywhere. NextCard ensures that all cardholder information is kept private and secure. Every cardholder has access to their personal account information at My.NextCard.com. As a NextCard cardholder, you can:
NextCard was the first credit card company to use real-time online chat for sales and customer service interactions. With just a click, cardholders can initiate an interactive conversation with a live NextCard Customer Service Representative and get immediate answers to credit application or account questions. And best of all, they don't have to disconnect from their Internet connection. Live Help is completely secure, compatible with any Web browser, and requires no special software. NextCard Customer Service Representatives are available online between 7am-4pm PST, M-F. Click to Chat!
NextCard does not sell personally identifiable information to others. We provide you with the option to opt-out of information sharing. We encourage you to read our Privacy Policy as it contains important information that is helpful to you. Security No one is more serious than NextCard when it comes to cardholder
security. We have designed one of the safest and most error-free systems
around. As part of our commitment, we regularly engage third-party
consultants to audit and review our security systems to ensure that our
standards never slip.
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COMPANY OVERVIEW: Technology & Market Innovation A breakthrough Internet strategy must do MORE than imitate offline processes. NextCard has developed proprietary technology for online credit approval and customization, enabling instant approval for qualified applications, interactive product design, and automated balance transfers. These sophisticated, Java-based systems are a collection of Web applications that integrate logic and data from the major credit bureaus, national fraud databases, and the NextCard proprietary Internet Database Marketing system (IDM) and Profile-Based Pricing system. We use the Internet as a direct marketing medium and are able to mine online data to target prospective cardholders more efficiently. Our pioneering technology lets us offer personalized, interactive experiences for our cardholders. | ||||||||||||||||||
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COMPANY OVERVIEW: History & Corporate Values History NextCard was co-founded on June 6, 1996 by Jeremy and Molly Lent. Because NextCard was built on the Internet from the ground up, our culture is fast-paced and ever-changing. The first NextCard Visa was issued on December 23, 1997. Although many applied, only the best consumers passed the strict credit quality guidelines we established. It wasn't until February of 1998 that we publicly unveiled NextCard through press releases and a concerted effort to alert the media. Once the news was out, we stepped up the pace and gave online consumers the ability to apply for the NextCard Visa 24-hours a day. In July of 1998, Version 2.0 of NextCard's proprietary system was released, providing customers with Platinum and Classic credit cards. In October 1998, new customers were given the ability to transfer their balances from competitive cards to their new NextCard account as a result of unique patent-pending technology. We launched our first major product just in time for the holidays in 1998. We introduced the NextCard PictureCardSMallowing approved applicants to submit custom photographs and create their own credit card designs for the first time. We continued to innovate in April of 1999, when we updated the NextCard technology platform to allow for instant online credit. With that introduction, eligible cardholders could be approved in 30-seconds and could shop online the same day, without having to wait for their new NextCard to arrive in the mail. Since the Company went public in May of 1999, we have remained focused on rapid innovation and incredible growth. In June, NextCard was added to the NASDAQ Financial 100 Index and to the Russell 2000 Index in July. In August with over 100,000 accounts, NextCard launched the e-Commerce IndexSM, a barometer of online shopping activity. And, in September, The Industry Standard named NextCard one of the most important companies of the Internet economy. Throughout 1999 and 2000, NextCard continued to develop and expand its portfolio of co-branded credit cards. NextCard is proud to be affiliated with innovative partners: Amazon, MyPoints, and PlanetOut. In May of 2000 the Company expanded its operations and opened an Internet-enabled call center in Phoenix, AZ. Later in 2000, NextCard expanded its suite of products by introducing a Secured Card, a card that requires an initial deposit, and the NextCard Bill Center, which allows customers to pay and manage all their bills online. NextCard broke down purchasing barriers for big-ticket items on the Web with the Instant Finance Network (IFN). NextCard surpassed one million customers in June 2001. | ||||||||||||||||||
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NextCard is built on three principles: | ||||||||||||||||||
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CORPORATE OVERVIEW: Officer Biographies JEREMY
LENT, FOUNDER, CHAIRMAN AND CHIEF STRATEGY OFFICER NextCard's founder,
Jeremy Lent, is a seasoned executive with an entrepreneurial focus and
proven expertise in managing a fast-paced, rapidly growing,
technology-intensive banking business. Lent was one of the first people
who recognized early on that the Internet would fundamentally change the
financial services industry. Lent founded NextCard with his wife, Molly
Lent, in June 1996 and has served as its Chairman of the Board and Chief
Executive Officer. In October 1999, Lent was awarded the Albert Einstein
Technology Medal for innovation in technology. He assumed the role of
Chairman of the Board and Chief Strategy Officer in August
2000. JOHN HASHMAN, CHIEF EXECUTIVE OFFICER Named Chief Executive Officer in July 2000, John Hashman joined Chairman Jeremy Lent in 1997 as one of the company's first employees. Hashman came to NextCard as CFO in 1997 and managed all financial aspects of NextCard's initial and secondary public offerings in 1999, raising more than $300 million. In addition, he oversaw corporate planning and analysis, investor relations and credit facilities that raised more than $1 billion. Three years after joining NextCard, he was named President. Hashman has more than 15 years of experience and is a recognized expert on the direct marketing of consumer credit through alternative channels. Hashman was an early employee at Providian Financial, which he joined in 1986, and served in a variety of senior management roles. He initiated and managed Providian's highly successful entry into telemarketing as a means of generating new accounts. During his 11-year tenure at Providian, the company's assets increased from $100 million to $10 billion. He began his career as an accountant at BankAmerica Corporation and Pacific Bell. Hashman earned a M.B.A. in finance from the University of San Francisco and a B.S. in accounting from Southeast Missouri University. YINZI CAI, PRESIDENT AND CHIEF OPERATING OFFICER As President and COO, Yinzi Cai directs all aspects of NextCard's credit card business including marketing acquisition, customer loyalty, credit policy and risk management, new product development, operations and information technology. Yinzi joined NextCard in July 1997 as the Vice President of Decision Analytics. She is the principal architect and leading force behind the company's Internet Database Marketing system, and Profile Based Pricing system, which enables customized decisioning on the Internet. As a result, NextCard's Internet marketing, and risk management and pricing sophistication are unrivaled on the Web. Before NextCard, Cai was principal consultant in the Finance and Industry Group at American Management Systems. Cai started her career at Providian Financial, and was risk manager at GE Capital Consumer Credit Group. Born and raised in Shanghai, China, Cai received a B.S. in physics from Fu Dan University, China and a M.S. from Case Western University in management science, operations research. BRUCE RIGIONE, CHIEF FINANCIAL OFFICER AND BOARD MEMBER As NextCard's Chief Financial Officer, Bruce Rigione is responsible for all accounting, audit, and financing activities of the company. Prior to being named CFO, Rigione was the Senior Vice President of International Development. In this role, Rigione drove strategic planning efforts that shaped long-term international business strategy including expansion into the United Kingdom, and the development of key partner and co-brand relationships with Internet leaders like Amazon.com. Rigione has enjoyed a long and distinguished career in investment banking spanning nearly 20 years. Prior to joining NextCard in 1997, Rigione spearheaded the global securitization group for HSBC. In recent years, he led the asset-backed securitization group at Chase Manhattan, working closely with established credit card companies. Rigione holds a M.B.A. from Columbia University in finance and a B.A. from Fairfield University. TALAT
SADIQ, CHIEF INFORMATION OFFICER As Chief Information Officer,
technology industry veteran Talat Sadiq is responsible for building
NextCard's industry leadership position through technology innovation. He
brings nearly two decades of technology and information services
experience from leading technology, financial and computer systems
companies including Citicorp, Sun Microsystems and Dell.
Sadiq spent over 8 years at Sun Microsystems, where he was involved in
a variety of technology positions. He managed the development and
implementation of all worldwide sales support systems and then became vice
president of Global Field Technical operations where he managed Sun's
worldwide pre-sales, systems engineering group. At Citicorp, Sadiq
managed, designed, developed and deployed global trading systems
worldwide. He has extensive experience in building and managing
large-scale systems and has also worked in several entrepreneurial
environments. While at Sun and Citicorp Sadiq initiated and managed
offshore development projects to take advantage of the technology talent
and cost-effective development of software. Sadiq holds a
B.S. in electrical engineering from Cornell University. | ||||||||||||||||||
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