HUNTINGTON WOODS, Mich., May 29, 2007 (PRIME NEWSWIRE) -- Michigan-based InStream Services(tm) (ISS), a leading provider of supply chain finance solutions, today announced a servicing agreement with the investment banking businesses of Credit Suisse.
InStream Services' proprietary technology platform offers a true supply chain finance solution which requires no contractual commitment or waiver of set-off from Obligors (Buyers). Historically, InStream Services has been most active in the automotive and manufacturing segments, but under this new agreement, will plan to accelerate growth into other industries.
"This affiliation with Credit Suisse will maximize the benefits offered by the ISS business strategy and accelerate adoption of our proprietary supply-chain finance solutions," said Tom Cross, president of InStream Services. "Our service has a proven track record in the manufacturing industry, and now that we will be supporting Credit Suisse's client network, other industries can efficiently and cost effectively access the much needed liquidity required to grow their bottom line."
InStream Services, Inc., a wholly owned subsidiary of Hennessey Capital Solutions, is a supply chain finance company based in Huntington Woods, Michigan. InStream Services' patent-pending Web-based technology delivers efficient, cost-effective working capital strategies for supply chain industries worldwide. For more information, please visit the Website at www.instreamfinancial.com.
As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 45,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.