Platinum Shell

The largest co-branded gasoline credit card program is going platinum. Chase Manhattan and Shell confirmed Tuesday they are gearing up to launch the ‘Shell Platinum Credit Card from Chase’. Under the program, cardholders will receive a 5% rebate on Shell gasoline purchases and a 1% rebate on all other purchases, with no cap on the amount of free gasoline that can be earned. Chase will offer a six-month 5.99% APR for purchases and balance transfers. There will be no annual fee for the first year. The fee is waived each year thereafter with nine Shell purchases. Chase said this morning that more than $450 million in Shell gasoline rebates have been earned by cardholders since the card’s launch in 1993.

Receivables: $31,900,000,000 Active Accounts: 12,300,000
YTD Volume: $27,300,000,000 Gross Accounts: 19,900,000
Source: CardData (


Cashing-In Chips

San Francisco-based InnoVentry Corp. announced this morning it is selling its Entertainment Division to casino king Global Cash Access. Under the terms of the agreement, GCA will acquire the ‘Atreva Express’, ‘Atreva Credit Card Access’ and ‘Cash Center’ lines of products and services at more than 60 gaming establishments throughout the U.S. InnoVentry say it is selling the division to focus research and development, sales, and marketing efforts on the retail division of the business, which includes the ‘RPM’ check-cashing machines. The ‘RPM’ machines offer secure check cashing, utilizing advanced facial recognition technology to identify the customer. Over the past three years, more than two million checks have been cashed at InnoVentry’s ‘RPM’s nationwide for $450 million in cash dispensed volume. GCA is a joint venture of Bank of America, First Data and USA Processing and provides cash services at more than 1,200 casinos nationwide. InnoVentry is jointly owned by Wells Fargo and Cash America International.


MoneyGram Philippines

MoneyGram has added AMA Bank as an agent in the Philippines, effectively doubling the number of company locations for sending and receiving money transfers in the country.

The company said its newest network expansion increased agents from 279 to 500 with the addition of AMA Bank’s branches and affiliates at educational institutions and video shops.

The AMA Bank locations add to the existing MoneyGram locations at Equitable PCI Bank, the country’s second largest bank. Equitable PCI Bank has been a MoneyGram agent for five years.

According to Tony Samour of MoneyGram, the network expansion works to reach more customers.

“Now we are more accessible to Filipinos in the outer islands and more remote areas of the country,” he said. “And there is increased convenience to our customers because we now have agents in hundreds of retail locations as well.”

Samour said the video shops are open longer hours than the typical financial institution or bank branch. The students and overseas workers studying at AMA’s computer schools are also expected to be heavy users of the popular money transfer services.

MoneyGram Payment Systems, Inc., a subsidiary of Travelers Express Company, is a leading money transfer services company with more than 30,000 locations in more than 135 countries around the world. Travelers Express is a subsidiary of Viad Corp (NYSE:VVI), and provides payment services in the financial, retail and money transfer areas.

To find a MoneyGram agent, go to [][1]. For more information on Travelers Express go to [][2], for Viad Corp, [][3].



PayBase Web Series

Bottomline Technologies the premier provider of Web-enabled billing, payment and electronic banking solutions announced general availability of PayBase Web Series. Web Series is a landmark step in the evolution of Bottomline’s PayBase software and provides a secure Internet-based system for organizations to manage their payment process via a Web browser.

The new Web Series brings together Bottomline’s ten years of experience in payment automation and system integration into a single easy to maintain, but powerful payment engine. Web Series provides organizations with the capability to process very high transaction volume while interfacing with numerous users in various geographic locations.

“We are thrilled that our core payments business with the PayBase product continues to be a strong source of revenues as we add on incremental business opportunities with the new NetTransact and BankQuest product lines,” said Dan McGurl, president and CEO of Bottomline Technologies. “PayBase Web Series allows us to target large new customers and expand functionality for our over 2,500 existing corporate and government customers. It continues our long-standing heritage of providing premier enterprise solutions for all payment processing needs.”

Web Series can provide a much lower total cost of operation for companies by providing access via the Web to multiple locations rather than server-based software which requires dedicated resources. The new product will also incorporate advanced financial management and reporting capabilities previously unavailable.

Among its additional functions, Web Series allows aggregation of account information from multiple banks into customized reports. This provides financial managers with visibility to cash positions across all corporate bank accounts via a secure Web browser. This can be a powerful financial decision tool for an organization striving for optimal cash positions.

“This product reaffirms Bottomline’s commitment to our current users and prospective customers by providing a clear path to the Web for payment processing,” said Phil Grannan, vice president of product management for Bottomline’s e-Payments product offerings. “Web Series can be quickly installed for new customers to help them realize the benefits of automating payments. It also provides our current corporate customers with the ability to upgrade the capacity and functionality of their existing technology.”

PayBase Web Series is ideal for organizations with multiple physical locations such as insurance companies, banks, brokerage firms, temporary agencies, leasing companies and franchisers. It can also improve business processes for organizations with widespread operations such as state and local governments, oil companies and retail organizations.

Dairy Farmers of America (DFA) is a Bottomline customer that is leveraging the benefits of the new Web Series in its operations. DFA works with nearly 20,000 dairy producers nationwide and processes over 100,000 payments per month on behalf of its members. Bottomline’s Web Series will help DFA to automate these payments across multiple sites into a central processing system at the company’s headquarters.

“Payment automation is absolutely necessary for us to be an effective solution and enhance our relationships with our members,” said Dwight Ingalsbe, Data Center Manager for DFA. “After evaluating all of the products on the market, we are convinced that Bottomline has the most comprehensive solution and we are excited to have them as a business partner.”

Within the United States, Web Series supports Laserchecks, wire payments and all National Automated Clearing House Association (NACHA) standards. For international commerce, Web Series supports S.W.I.F.T. international payments and cross border payments.

PayBase Web Series will also support new NACHA entry classes that will be effective in September. The new standards include point of purchase (POP) – an entry class that allows an organization to receive a paper check from a consumer and turn it into an ACH debit for quick and inexpensive collection through the ACH network. The product also supports re-presented check entries (RCK) – an entry class that enables an organization to significantly improve the collection rate on paper checks returned for insufficient funds.

About Bottomline Technologies

Bottomline Technologies(R) (NASDAQ: EPAY) is the leading provider of Web-enabled billing, payment, and electronic banking solutions for the business-to-business market. Bottomline’s three integrated e-business offerings enable corporations and financial institutions worldwide to integrate, automate, and streamline the entire financial supply chain. PayBase(R) provides a pathway from traditional paper checks to electronic payments, as well as sophisticated messaging, remittance, and anti-fraud tools. NetTransact(TM), the Company’s business-to-business bill presentment and payment suite, enables enterprise billers and their trading partners to electronically present, adjudicate, and pay bills on-line. Bottomline’s BankQuest(TM) is a corporate and institutional browser-based electronic banking platform that provides information reporting and transactional services for cash management, trade finance, and securities processing. Today, Bottomline’s offerings are utilized by over 2,500 organizations representing every major industry sector. Founded in 1989, Bottomline maintains its headquarters in Portsmouth, NH and has satellite offices located in most major cities. For more information, dial (800) 243-2528 or visit Bottomline on the web at [][1]



Teen Technology

NY-based Solspark Inc., formerly netgen inc., announced Tuesday the availability of a turn-key teen payment platform that allows banks to access the teen market by issuing stored value payment mechanisms. The Solspark payment platform enables parents to place specific merchant category and spending controls on the teen account. The payment platform is part of Solspark’s proprietary permissions-based payment technology that integrates with all existing payment platforms. Solspark also announced yesterday the formation of its Senior Advisory Board which includes the following participants, among others: Pete Hart, former CEO of MasterCard and Advanta; Jeffrey Chittenden, formerly EVP at First USA Bank, and Bill Stewart, former CEO of eVISA and former EVP at VISA.


2Q Card Data

[][1] While First Union continues to shop its portfolio on the market, second quarter results gathered by CardData show a $170 million drop in receivables and a reduction in active accounts by nearly 200,000. Wells Fargo Card Services’ portfolio was essentially flat for 2Q/00. Meanwhile Wachovia continues to digest its purchase of the Partners First portfolio showing a $400 million decrease in receivables between 1Q/00 and 2Q/00.

First Union Wells Fargo Wachovia
RECV: $5,630,654,051 $5,527,535,308 $7,787,803,270
Q VOL: $1,813,978,866 $2,162,003,878 $2,396,976,113
ACCTS: 3,279,000 4,568,998 7,769,274
ACTIVES: 1,767,559 2,832,425 2,763,510
CARDS: 3,840,876 6,000,074 10,377,321
ND- not disclosed

Source: CardData (



Bank Plus to Unload

Bank Plus Corporation and its subsidiaries, which include Fidelity Federal Bank, FSB reported earnings from continuing operations of $6.0 million, or $0.31 per diluted share, for the second quarter of 2000 and $26.7 million, or $1.37 per diluted share, for the six months ended June 30, 2000. Excluding net gains on sales of branches of $4.7 million for the second quarter and $24.3 million for the six month period, net income from continuing operations was $1.3 million for the second quarter of 2000 and $2.4 million for the six months ended June 30, 2000. Net income from continuing operations was $10.8 million, or $0.54 per diluted share, for the second quarter of 1999, and $16.1 million, or $0.81 per diluted share, for the six months ended June 30, 1999.

The Company also reported that the Board of Directors has adopted a plan to dispose of its remaining credit card operations. As a result, the carrying values of the remaining credit card portfolios have been reduced to their estimated sales values and the credit card operations are now reported as discontinued operations in the Company’s financial statements. Income from discontinued operations was $0.1 million in the second quarter of 2000 and loss from discontinued operations was $7.3 million for first six months of 2000, as compared to losses of $26.4 million and $29.7 million for the corresponding periods in the prior year. Loss on disposal of discontinued operations was $27.9 million for the second quarter of 2000 and $60.3 million for the six months ended June 30, 2000.

The Company reported overall losses of $21.8 million or $1.12 per diluted share for the second quarter of 2000 and $41.0 million, or $2.11 per diluted share, for the six months ended June 30, 2000.

Mark K. Mason, President and Chief Executive Officer, said: “I am pleased to report that in the first half of the year we have implemented all of the strategic elements of our 2000 business plan, including the completion of our planned deposit sales, the adoption and execution of a plan of disposal of the credit card operations, and the resolution of the ADC cardholder litigation. As a result of these actions the Company anticipates a return to overall profitability in the second half of this year and is positioned to consider the feasibility of a sale in the near term.”


Continuing Operations

Primarily as a result of deposit sales, repayments of borrowings and correspondingly lower levels of interest earning assets, net interest income decreased to $14.5 million in the second quarter of 2000 as compared to $16.4 million in the first quarter of 2000 and $18.5 million in the second quarter of 1999. The impact of the reduction in interest earnings assets was partially offset by improvements in the interest margin. While increases in market interest rates have caused the Bank’s deposit costs to increase since the 1999 second quarter, increases in the yield on assets and decreases in borrowings, which have higher costs than deposits, have resulted in an increase in the net yield on interest earning assets. The increased yield on assets was the result of the repricing of the Bank’s primarily adjustable rate mortgage portfolio and improvements in the yield on its investment portfolio due to lower prepayments.

Despite increasing deposit costs, the Company’s overall costs of funds have risen more slowly than the Federal Home Loan Bank (“FHLB”) Eleventh District Cost of Funds Index (“COFI”) to which the majority of the Company’s mortgage loan portfolio is indexed. The Bank’s overall cost of funds was 4.84% for the month of June 2000 and 4.58% for the month June 1999, while COFI was 5.36% and 4.50% for the corresponding periods.

The negative provision for loan losses in the second quarter of 2000 and the first two quarters of 1999 represents reduced estimates of future loan losses and net recoveries of specific valuation reserves resulting from improvements in the asset quality of the Bank’s mortgage loan portfolio.

Excluding net gains on sales of branches, net noninterest income was $3.4 million for the second quarter of 2000 as compared to $3.6 million for the first quarter of 2000 and $3.0 million for the second quarter of 1999. In the second quarter of 1999, noninterest income was negatively impacted by $0.4 million of fees incurred in the prepayment of certain FHLB advances. Increased sales of higher margin products resulted in a 4% increase in fee income from the sale of investment products in the second quarter of 2000 as compared to the second quarter of 1999 in spite of an 18% decrease in the number of branches. On a per branch basis, fee income from the sale of investment products increased 27% in the second quarter of 2000 as compared to the second quarter of 1999.

Operating expenses for the second quarter of 2000 were $1.6 million or 9.5% higher than the second quarter of 1999. This increase is due primarily to increased compensation costs, costs of the Major Loan Division which began operations in the fourth quarter of 1999, and higher FDIC insurance costs offset by lower information systems expenses. Increased compensation costs are primarily due to compensation increases to retain quality personnel in a highly competitive employment market. The Company’s core information systems were converted to a new service bureau based system in the second quarter resulting in a significant decrease in data processing costs.

The Company’s efficiency ratio has been adversely impacted by a number of factors related to its current turnaround status and its existing mortgage loan portfolio. These include higher FDIC insurance premiums, low capital levels, exclusive reliance on deposit funding, and a low yielding multifamily loan portfolio. Low capital levels cause the Company to borrow incrementally more to fund the assets. Deposit funding, while generally less expensive than borrowing, requires higher operating expenses. As a result of the Company’s lack of significant new loan originations since the early 1990’s, the loan portfolio today is still largely comprised of adjustable rate multifamily loans originated in the late 1980’s and early 1990’s. These loans were originated at margins that produce yields that are approximately 60 basis points below similar loans in today’s market. On a pro forma basis, adjusting for these items, the Company anticipates that its efficiency ratio will fall within the range of peer institutions in future periods.

Asset quality in the mortgage loan portfolio continues to be favorable with delinquencies at June 30, 2000 of 0.42% for the overall portfolio and 0.10% for the multifamily portfolio, compared to levels of 0.55% and 0.16%, respectively, as of March 31, 2000. Classified loans and nonperforming assets were $49.1 million and $5.3 million at June 30, 2000 as compared to $51.5 million and $7.2 million at March 31, 2000, respectively.

Discontinued Operations

The losses from discontinued operations in the first quarter of 2000 and in the first two quarters of 1999 were primarily due to high provisions for estimated loan losses.

The loss on disposal of discontinued operations represents the valuation loss recorded by the Company to reduce the carrying values of the MMG Direct, Inc. (“MMG”), American Direct Credit, Inc. (“ADC”) and First Alliance Mortgage Company (“FAMCO”) portfolios to their estimated sales values and $3.0 million of charges related to the future termination of a third party servicing contract and the completed sale of the Company’s credit card servicing center in Beaverton, Oregon. The valuation loss related to the MMG portfolio was recorded in the first quarter of 2000 while the valuation losses related to the ADC and FAMCO portfolios were recorded in the second quarter of 2000.

Until the disposal of the credit card portfolios has been completed, the Company’s overall results of operations will continue to include the results of these discontinued operations and any changes in the anticipated proceeds from the disposal of the credit card portfolios.

As of June 30, 2000 total outstanding balances in Fidelity’s credit card portfolio were $87.4 million, comprising $74.4 million in the ADC portfolio and $13.0 million in the FAMCO real estate secured portfolio. Total delinquencies in the ADC and FAMCO portfolios were 15.8% and 20.3% at June 30, 2000 compared to 15.0% and 18.8% at March 31, 2000, respectively. The buyer of the credit card servicing center and the MMG portfolio is now servicing the ADC portfolio.


As a result of the second quarter net loss the Bank is categorized as “adequately capitalized” as of June 30, 2000 for regulatory capital purposes as compared to “well capitalized” as of March 31, 2000. The Company anticipates becoming “well capitalized” again in 2001 through earnings and balance sheet management. Common stockholders’ equity was $55.6 million at June 30, 2000 with a tangible book value per common share outstanding of $2.27.


During the quarter, the Company made its scheduled interest payment on its Senior Notes. The liquidity for interest payments in the near term is expected to be provided by preferred stock dividends from the Bank and currently projected liquidity at the holding company. The Bank has been authorized by the OTS to make payment of dividends on the Bank’s preferred stock so long as the Bank remains at least adequately capitalized for regulatory purposes. This authorization from the OTS does not constrain the OTS from restricting future dividend payments based on safety and soundness considerations or future examination findings, and no assurance can therefore be given that the OTS will permit future dividend payments by Fidelity to Bank Plus. The Bank has received no indication from the OTS that it will object to the continued payment of preferred dividends.

Bank Plus Corporation is the holding company for Fidelity Federal Bank, FSB, which offers a broad range of consumer financial services, including demand and time deposits and mortgage loans. In addition, through its affiliate Gateway Investment Services, Inc., a NASD-registered broker/dealer, Fidelity provides customers of the Bank with investment products, including mutual funds, annuities and insurance. Fidelity operates through 30 full-service branches, 29 of which are located in Los Angeles and Orange counties in Southern California.

For more details on Bank Plus’ 2Q/00 results visit CardData ([][1])



Cell Phone Volume

The amount of wireless phone charges billed to the ‘American Express Corporate Card’ is increasing by approximately 30% year-over-year. AmEx says its internal research indicates that 25% of its corporate cardholders are using their cards to pay for their telecom expenses to reduce administrative burden of processing separate invoices. AmEx said a recent poll of 600 U.S. business travelers found that wireless phones are now carried by 53% of corporate travelers, a 28% jump over last year. The survey also revealed that 59% of all calls on the road are now made using wireless phones, up two percentage points from last year, while the use of pay phones is sharply decreasing, down to 7.6% from 11% a year ago. Internet and email access account for 8% of on-the-road telecom charges.


Trintech – Planet Payment

Trintech Group PLC, a leading provider of secure electronic payment infrastructure solutions and Planet Payment, a leading provider of global multi-currency Internet payment solutions, announced an agreement to develop and deploy a secure mobile commerce payment solution to banks, eMerchants and technology companies worldwide.

The integration of Trintech’s PayWare eIssuer and mAccess server technology is the second phase in an ongoing strategic alliance agreement between the two companies that enables Planet Payment to substantially expand its service offerings into mobile commerce with a complete payment infrastructure solution for eMerchants, financial institutions, telecommunication companies and technology companies, including ASPs, CSPs and wireless application service providers. Planet Payment enables its partners to offer their customers secure shopping online using their mobile phones while allowing its merchants to accept credit card payments in almost any currency. Planet Payment intends to fully integrate mAccess and eIssuer with its own multi-currency payment services to facilitate global mCommerce among host providers, consumers, merchants and other Planet Payment third parties.

Merrill Lynch, in a recent report, estimates that there were 472 million wireless subscribers worldwide at the end of 1999 and expects this total to grow to 1.5 billion users by 2003. With the addition of this mobile commerce functionality, Planet Payment further strengthens its position in the industry as a leading provider of multi-currency payment solutions for global e-commerce, whether the transaction happens online through a personal computer, mobile telephony or other wireless Internet access devices.

Consumers wishing to shop online using their mobile phones or other handheld devices through Planet Payment first set up a virtual payment profile through their Internet portal, local access provider or financial services institution, which securely stores the information so it can be quickly accessed for a wireless e-commerce transaction. The Trintech products facilitating the transaction will be located in Planet Payment’s facility. Planet Payment aims to expand upon its role as a trusted service provider by offering mobile commerce services to any and all interested parties.

“With this venture we will enable mobile phone users anywhere who wish to shop online using the convenience of their wireless devices to do so – securely, confidently and with the payment vehicle of their choice. This relationship with Trintech continues our stated strategy to become the global leader in providing multi-currency Internet payment solutions to merchants, technology companies and financial institutions,” says Philip Beck, CEO of Planet Payment. “We believe that Trintech has clearly demonstrated its leadership position in eCommerce and now mCommerce with its eIssuer and mAccess products. We plan to combine our multi-currency Internet skills with the unrivalled ePayment domain expertise of Trintech to provide our customers with a powerful mCommerce product suite.”

“We are absolutely committed to providing ePayment solutions that facilitate the rising tide of mCommerce,” says John McGuire, CEO of Trintech. “By partnering with a market leader like Planet Payment, we can further reach wireless financial services. This allows banks to enjoy the substantial synergies that accrue from the combination of our joint range of wireless products.”

About PayWare mAccess

PayWare mAccess is a modular, server-based mCommerce payment solution that enables card issuing banks, portals/ASPs, content converters and wireless network operators to securely process card payment transactions from a variety of wireless devices, including cell phones, PDAs and set-top boxes. When deployed in conjunction with a server-based consumer payment technology, such as Trintech’s PayWare eIssuer, wireless users benefit greatly from enhanced security and “one touch” form fill of mobile commerce merchant payment pages.

About Planet Payment

Planet Payment ([][1]) is a global leader in providing multi-currency Internet payment solutions to merchants, technology companies and financial institutions worldwide. Planet Payment’s affordable solution enables Internet merchants to securely accept Visa(R), MasterCard(R), American Express(R) and other major debit and credit cards in a secure, real time environment, 24 hours a day and in over 140 currencies – whether the buyer is using a personal computer, mobile telephone, or other wireless device. The Planet Payment Gateway, powered by Authorize.Net, ([][2]) is compatible with over 100 of the leading shopping cart technologies. Planet Payment can be contacted in the U.S. at 950 Third Avenue, New York, NY 10022 (Tel: 212/980-5100). Planet Payment can be reached on the Web at [][3]. Email correspondence should be sent to

About Trintech

Trintech Group PLC is a leading provider of secure electronic payment infrastructure solutions for real world, Internet and wireless transactions. The company, which was founded in 1987, offers a complete range of payment software products for credit, debit, commercial and procurement card applications. Trintech’s secure product range is deployed in over 35 countries worldwide and cover the payment requirements of consumers, card issuing banks, merchant acquiring institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs, Portals and large corporations. Trintech’s range of scalable, open systems architecture solutions for UNIX(R) and Windows NT(TM) platforms covers consumer, merchant and financial institution requirements for all card-based payments, including e-commerce and the emerging world of mobile commerce. Trintech can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94403 (Tel: 650/227-7000) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000). Trintech can be reached on the Web at [][4]. Investor information can be found at [][5].



Cash Crunch

Palm Beach, FL-based reported yesterday it is running out of cash quickly but its burn rate is cooling. As of June 30, the publicly-traded infomediary had $7.5 million in cash available after posting a second quarter loss of $3.3 million. However in its path-to-survivability initiative, was able to unload its online insurance business for $4.3 million cash in mid-July. Bankrate was losing about $600,000 per month operating the Pivot online insurance service. The Pivot sale will raise Bankrate’s cash on-hand to more than $11 million and should reduce its quarterly losses to about $1.5 million. Barrons projected would run out-of-cash by year’s end. However the firm should be able to continue operations for at least another twelve months. Bankrate said yesterday that its cost reduction efforts have been broad-based across the company which have included elimination of its broadcast group, significant reductions in marketing and PR, and reductions in force that bring the firm back to pre-IPO staffing levels. went public in May 1999 as Intelligent Life Corp. trading as high as $15 per share. The firm’s stock price has been hovering around $1 per share this summer. (CF Library 5/14/99).


Globeset Makeover

Globeset, the leading global supplier of secure ePayments infrastructure services and products, has named Jonathan Wineberg as senior vice president, Development.

In his new role, Wineberg will lead Globeset’s worldwide development of eCommerce infrastructure solutions, which provide a globally consistent and secure connection — anytime, anywhere — among financial services providers, electronic exchanges, buyers and sellers. He will also oversee Globeset’s application services area which hosts both Globeset and third-party software for clients.

Wineberg previously served as senior vice president of engineering and product development for EIS International, Inc., a provider of telephony-based contact center technology based in Herndon, Va.

“Jonathan has extensive experience in both software development and product management and will play a key role in helping us expand and enhance our family of eCommerce products,” said Tony Reed, Globeset’s chief operating officer.

The originator and co-author of four patent applications, Wineberg holds a Bachelor of Science degree in electrical engineering from the University of Akron, Ohio, and has completed graduate work at Johns Hopkins and Syracuse universities. He also is a member of IEEE and the Society of Industrial and Applied Mathematics.

About Globeset

Globeset is the leading global supplier of secure ePayments infrastructure services and products for buyers, sellers and financial services providers. The company’s ePayments infrastructure provides a globally consistent and secure connection — anytime, anywhere — among financial services providers, electronic exchanges, buyers and sellers. This infrastructure simplifies process flows and reduces costs associated with ePayments.

Globeset delivers services and products directly and through resellers and system integration partners that supply financial services providers, corporations and electronic marketplaces. Partners and customers are supported with application hosting services, consulting, education, customization, maintenance and support. The company’s ePayment services and products include personal and enterprise commerce agents, banking applications and corporate applications. For more information, visit the company’s Web site at: [][1].