Applied Financial Technology, Inc. delivers risk analytics to the mortgage industry. It offers mortgage-loan default and prepayment models for fixed, adjustable, prime, and sub-prime mortgages, as well as for home equity lines of credit, home equity loans, and asset-backed securities. The company also provides option-adjusted valuation and risk management tools for mortgage- and asset-backed securities, collateralized mortgage obligations, and interest rate processes. It serves banks, mortgage banks, broker/dealers, lenders, government agencies, insurance companies, institutional investors, and hedge funds in the United States. Applied Financial Technology, Inc. has strategic alliances with BancWare Solutions; Bloomberg Financial Markets; HanoverTrade, Inc.; Chasen Enterprises; Derivative Solutions, Inc.; FSI; Intex Solutions, Inc.; McDash Analytics, Inc.; Murex; MIAC; NewBreak; PolyPaths; QRM; SS&C Technologies, Inc.; Summit Solutions; Theoretics, Inc.; Wall Street Analytics, Inc.; and ZM Financial Systems. The company was founded in 1996 as Espiel, Inc. and is headquartered in San Francisco, California with additional offices in Boston, Massachusetts; and New York, New York. As of June 25, 2007, Applied Financial Technology, Inc. is a subsidiary of Fidelity National Information Services Inc.