Capital One 1998 Annual Report Download - page 15

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Please find page 15 of the 1998 Capital One annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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We’d like to shift the gears of auto
finance.
Capital One’s first acquisition,
completed last summer, takes the
company into another large sector of
consumer finance. Summit Acceptance
Corporation, based in Dallas, Texas,
provides auto loans to borrowers across the country. We
see Summit as a platform for testing our Information-
Based Strategy, which we believe has the potential to
transform an industry still largely reliant on traditional
marketing and lending practices. We are beginning by
integrating our technologies and scientifically testing
new marketing ideas. Summit’s management has built a
solid company with a successful track record and is well
suited to partner with Capital One.
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