eCredit nFusion Selected as a 2004 MITX Technology Awards Finalist

DEDHAM, MA – eCredit® today announced that nFusion®, its integrated credit and collections automation suite, has been selected as a finalist in the Business Operations category for the first annual MITX Technology Awards. Held by the Massachusetts Innovation & Technology Exchange, the MITX Technology Awards recognize innovative technologies developed in New England, as well as the individuals and organizations that have made significant contributions to advance technology and innovation in the region.

“We were incredibly pleased with the caliber of technology applications submitted into this year’s competition,” said Leslie Cushing, Executive Director of MITX. “It is a true testament to New England’s position at the forefront of technology and innovation and we are thrilled to provide the opportunity to showcase our region’s accomplishments.”

nFusion has helped drive value this year for companies from a diverse range of vertical industries, including leading national rental and leasing agents, wholesalers and distributors, financial services companies and a leading national newspaper. Offered in application service provider (ASP) and customer hosted environments, the nFusion suite goes beyond addressing the key pain points of today’s credit and collections departments by enabling companies to gain additional synergies across business process and organizational boundaries. With nFusion, credit information can drive more effective collections strategies, and collections data can improve and inform the credit process. As a result, nFusion not only brings together information that improves credit and collections operations, but also enables advanced modeling and predictive results through its comprehensive portfolio management capabilities.

“This past year has been one of significant growth for eCredit,” said Jeff Dickerson, eCredit president. “We have made a considerable investment in the development of nFusion, and are honored to see the suite recognized by MITX as a finalist in the category of Business Operations. This recognition is a testament to the success eCredit has continued to see in delivering the industry’s strongest integrated credit and collections automation software solutions.”

eCredit will be recognized with the other finalists in the category of Business Operations at an awards ceremony attended by 200 of the region’s top technology and business professionals. Winners will be announced at the ceremony at the Four Seasons Hotel on Wednesday, September 22, 2004.

MITX will also present several awards of distinction, including the Lifetime Achievement Award to Ray Stata, Chairman of Analog Devices. Additional awards include the “What’s Next” Awards to be presented to up to three companies that have created emerging technologies that are expected to have profound impacts on the technology environment within the next few years. The “Innovation Influencer of the Year” Award will be given to an individual or organization that has done the most to promote New England-based innovation.

The 2004 MITX Technology Awards are sponsored by Bank of America, Nixon Peabody LLP, TD Capital, Technology Review and The Barbarian Group.

About nFusion
eCredit nFusion is the most comprehensive Web-based credit and collections automation suite of applications available today. The nFusion suite offers credit and collections modules which can be utilized by themselves, or in a completely integrated and seamless environment. As a result, nFusion combines the power of credit decision automation, portfolio and customer risk analysis, and scoring with workflow management capabilities and collections automation features to streamline the financial value chain. As the only solution available today to truly integrate both collections and credit functionality, nFusion offers breakthrough advancements to improve business credit decision processes, reduce costs, optimize risk exposure, improve revenues, reduce DSO, accelerate cash flow and improve productivity.

About eCredit
Since 1993, eCredit has delivered credit risk management and collections software and services to Fortune 1000 companies and financial institutions. The company improves credit and collections decision-making practices to deliver process efficiencies, optimized risk management, reduced operating costs, and increased revenues. Included among the company’s customers are ChevronTexaco, Cisco, CIT Group, Sun Microsystems, and Ryder System, Inc. Headquartered in Dedham, Massachusetts, eCredit is funded by Apex Venture Partners, Internet Capital Group, North Hill Ventures and Sterling Venture Partners. For additional information, visit eCredit on the Web at www.ecredit.com.

About MITX
The Massachusetts Innovation & Technology Exchange (MITX), formerly known as MIMC, accelerates business opportunities and professional development for those who seek to create business advantage through the innovative application of technology and services. Serving more than 2,500 members from multiple industries including Internet, nanotechnology, interactive marketing, healthcare, and financial services, MITX is the region’s premier association for thought leadership, technology trends, building business relationships and professional training and development. MITX also offers its members the chance to promote their companies to targeted audiences through sponsorships, speaking opportunities and networking. MITX is headquartered in Boston. For more information please go to www.mitx.org.