The Internet is fundamentally changing how lenders conduct business, interact with customers and partners, and more importantly, conduct their core business. This TowerGroup Research Note provides an overview of ARC Systems, beginning with an analysis of the credit industry landscape and the trend toward outsourcing components of the mortgage fulfillment process to gain a competitive advantage. The Note then focuses on the ARC Systems business model and examines the firm's flagship service, LendTech2000 (LT2K), including the systems technology and capabilities. It also discusses the opportunities and challenges that face such service bureau solutions and the potential market and product expansion opportunities available to ARC Systems.