This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Newtek Business Services, Inc. Issued Patent For NewTracker® Referral Processing And Tracking System

NEW YORK, Sept. 24, 2012 /PRNewswire/ --  Newtek Business Services, NASDAQ: NEWT, The Small Business Authority®, announced today that it had received Patent No. 8,271,326 on its NewTracker® Referral Processing and Tracking System, its internally developed, customer referral, tracking and processing software.  NewTracker is a cloud computing based, SAAS Platform which integrates the secure receipt, processing, tracking and reporting of business referrals and leads.  A substantial portion of Newtek's business comes from referrals from other organizations and businesses, our alliance partners.  Those referrals and all business done by Newtek are routinely input and processed on the NewTracker system.

"The ability of Newtek to efficiently and effectively process large volumes of business opportunities while maintaining the highest levels of quality control and security for businesses interested in business loans, cloud computing services, eCommerce solutions, payroll services, personal and commercial insurance, merchant processing, web services and technology solutions rests squarely on NewTracker," said Chairman and CEO Barry Sloane.  "The NewTracker system, which we have developed and refined over more than 8 years, is a clear example of the execution of Newtek's strategic, long term plan to position The Small Business Authority as the provider of choice for business and financial services to business owners and operators nationwide.

"Since, 2003, Newtek's business of acquiring small business clients seeking state-of-the-art business and financial services has been facilitated by the success of NewTracker, which enables Newtek, " The Small Business Authority," to acquire business customers on a cost efficient basis while ensuring the highest quality of customer service.  NewTracker links referring partners and Newtek together and affords 100% transparency into our back office processing.  NewTracker also greatly reduces the need for our company to rely on non-cost effective independent agents or sales representatives, who tend to control clients for their own needs and enterprises.  NewTracker provides our partners, community banks, credit unions, trade associations and independent selling agents, the ability to refer clients or leads based upon an expressed need while performing virtually no underwriting or information gathering. The underwriting and business intelligence is done by Newtek directly with the customer and, on a mandatory basis, is logged into the notes of our software, affording full transparency and an accounting and a compliance audit trail to all our regulated and non-regulated referral partners." 

Mr. Sloane continued "The NewTracker Referral Processing and Tracking System has enabled Newtek  to become a very low-cost acquirer of customers in the small- and medium-sized business space. Our Business Service Specialists receiving referrals specialize in their product line, whether that be a licensed insurance professional, payment processing specialist, loan assembler or technology expert. Our staff is not compensated on commission but instead their performance is measured based upon all of the statistics and performance criteria set up by Newtek and captured by the NewTracker system.  NewTracker also enables Newtek  to cross-market multiple products into its business clientele by keeping track of every contact and communication made with the customer throughout its relationship with Newtek.  All Newtek personnel, whether Business Service Specialists handling new business, or Customer Service Representatives handling existing clientele, are linked to NewTracker.  We will be relying on NewTracker in developing and rolling out several new business offerings for utilization directly by small- and medium-sized businesses.

"NewTracker has basically put a barcode on a service offering, similar to the way overnight delivery services can track a package from intake to delivery throughout their systems.  Any referring party can, on a real time, 24/7 basis, obtain an update on what we are doing with their referred customer. Many of our clients get automatic reports sent to them daily. Due to the transparency we offer, we have over the course of time achieved the highest level of customer service for our alliance partners."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,086.63 -26.91 -0.16%
S&P 500 1,987.01 +3.48 0.18%
NASDAQ 4,473.6970 +17.6810 0.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs