Capital One 2000 Annual Report Download - page 18
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Please find page 18 of the 2000 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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In 1998 we acquired Summit Acceptance Corporation, a
small, well-run auto finance company that offered us
an opportunity to put our information-based strategy
to work in an industry still run on traditional lines. We
renamed the business Capital One Auto Finance, which
strengthens the Capital One brand by taking it into
another major sector of financial services. By applying
our analytics to the business and by linking it to our
technology and customers, we have dramatically
accelerated growth and profitability. Loans outstand-
ing have tripled since the acquisition. Mass customi-
zation allows us to offer borrowers low prices and quick
approvals, ending white knuckles and holding patterns
for car buyers.
Our installment loan business has also been a
win-win for consumers and Capital One, with our prices
beating the industry’s by a wide margin.
ur flight plan for diversifi-
cation: zero in on informa-
tion-rich businesses where
we can add value for consumers
through testing, customization and
direct marketing.
O