IFS International, Inc. Wednesday announced that Alfa Bank, a major Moscow, Russia-based banking corporation, licensed IFS’ TPII product to manage its network of Automatic Teller Machines, Point of Sale terminals and payment card systems. The Banking Production Centre (BPC), IFS’ authorized distributor in the Russian Federation, will serve as the prime contractor on the project, overseeing the installation and certification of the system. The TPII software will run on Stratus hardware and will drive a network of devices accepting Visa, Europay, Union Card, American Express, Diners, and JCB cards throughout the Russian Federation.
Vladimir Izoutin, Head of Alfa Bank Card Division, justified the bank’s choice as, “Alfa Bank proved itself to be a leading player on the post-crisis plastic card market in Russia. The growing earnings on business volumes allow us to plan strategic investments in modern technology in order to secure our leadership in long term. The choice of the TPII solution is a result of a tender to participate in which we invited all the internationally recognizable suppliers. Our decision in favor of TPII and IFS is based on two major factors — TPII is a proven innovative product designed with new millennium technology trends in mind, and IFS — is a company who has demonstrated its strong commitment to the Russian market even when the times were not so easy.”
Anatoly Loginov, Executive Director of BPC, commented, “Alfa Bank is the first major Russian Banking Corporation to purchase a payment card system since the melt down of the Russian economy. Given the increasing strength of the economy, it is no surprise to us that they selected IFS’ TPII solution to enhance the quality and range of services that they are currently offering their customers.”
David Hodge, CEO and President of IFS International, stated, “IFS is pleased to become associated with another Russian Federation bank. Once again, the partnership between IFS and BPC is providing major banks with the ability to extend their service offerings and leverage existing technologies to compete in the global marketplace. Furthermore, it is clear that our ‘global team’ initiative, that allows for firms like BPC to provide local support for TPII in foreign markets, continues to meet and even exceed local market requirements.”
IFS International, Inc. and Network Controls International, Inc. are divisions of IFS International, Inc., which has headquarters in the USA and subsidiary offices in the USA, UK, Singapore, Australia, and Germany.
IFS International, Inc. develops, markets, and supports software products for the Electronic Funds Transfer (EFT) market. IFS International’s TPII suite of software products provide support for Automatic Teller Machine (ATM), Point of Sale (POS), network switches, smart-card, card management, bank teller platform, home banking and call-center solutions. NCI, Inc. provides complementary products, such as NCI Business Centre, an enterprise-wide retail bank branch solution designed to deliver traditional and Internet/Intranet based transactions.
IFS securities are traded on the Nasdaq SmallCap Market: IFSH Common Stock; IFSHW Redeemable Common Stock Purchase Warrants.Details