Advanced Credit Technologies, Inc. adds strategic Board Member to facilitate domestic Banking sector
VENICE, FL--(Marketwired - Sep 28, 2017) - Advanced Credit Technologies, Inc. (OTCQB: ACRT): The Board of Directors of the Company approved the election Rex Schuette to serve on the Company's board of directors. The number of directors of the Company was amended to five (5). Mr. Schuette will serve as a director of the Company; he will not serve on any committees as none exist at this time.
Mr. Schuette's vast experience and knowledge in the financial services sector will be instrumental in guiding the Company forward with its banking relationships. Mr. Schuette was an Executive Vice President and Chief Financial Officer of United Community Banks, Inc. ("United") for the past 16 years until his recent retirement in May of this year. United is one of the largest full-service banks in the Southeast region of the United States, with over 168 offices and over $11 billion in assets. While at United, Mr. Schuette managed and directed all accounting, financial and reporting activities for the bank, and was also responsible for mergers and acquisitions, investor relations, strategic and capital planning. Prior to his time at United, Mr. Schuette spent sixteen years at State Street Corporation, a global financial services company, where he served as the company's Senior Vice President and Chief Accounting Officer. Mr. Schuette has also served as the Chief Financial Officer of Bank One (Lead Bank), Deputy Comptroller of Harris Trust Savings Bank, and Assistant Controller of the National Bank of Detroit. The knowledge and experience that Mr. Schuette brings to the Board will be an important and strategic component of the Company's continued growth in the banking industry, both domestically and abroad.
Advanced Credit Technologies, Inc. President Chris Jackson stated, "We are pleased to welcome Mr. Schuette to our Board. Mr. Schuette's vast experience and knowledge within the financial sector will be instrumental in guiding the Company forward with our banking relationships." The Company considers our relationship with Mr. Schuette to be very strategic as we grow throughout the banking industry, both domestically and abroad.
Advanced Credit Technologies, Inc. ("ACRT", 'We" or the "Company") is a development stage technology company focused on fraud prevention and credit management.
The Company offers a proprietary software platform branded as CyberloQ™. While previously the Company licensed CyberloQ, in the third quarter of 2017, the Company acquired the CyberloQ technology and is now the exclusive owner of CyberloQ.
CyberloQ is a banking fraud prevention technology that is offered to institutional clients in order to combat fraudulent transactions and unauthorized access to customer accounts. Through the use of a customer's smart-phone, CyberloQ uses a multi-factor authentication system to control access to a bank card, transaction type or amount, website, database or digital service. The mobile applications for CyberloQ have been built, and the Company is currently beta-testing the technology in the banking ecosystem.
In addition to CyberloQ, the Company offers a proprietary software platform under the brand name Turnscor® which allows customers to monitor and manage their credit from the privacy of their own homes. Although individuals can sign-up for Turnscor on their own, the Company also intends to market Turnscor to certain institutional clients, where appropriate, in conjunction with CyberloQ as a value-added benefit to offer their customers.
