EFTA Summit ’99

The Electronic Funds Transfer Association Wednesday announced that San Diego has been chosen as the site of the group’s 1999 Spring member “Summit.”

The Summit, one of two semi-annual membership meetings scheduled in 1999, will be held Tuesday, March 23, at the Loews Coronado Bay Resort, with the EFTA board of directors meeting to follow the next day.

The theme of the San Diego Summit will be “Internet Strategies: A New Commerce or a New Competitor?” Scheduled sessions will include Internet-exclusive financial service providers, according to EFTA Executive Director H. Kurt Helwig.

“Being on the West Coast will allow us to take advantage of the proximity to many of the Internet-related companies located in California,” said Helwig, “as well as being responsive to the needs of our growing West Coast membership.”

The second EFTA Summit is slated for September in Washington D.C.

The complete 1999 EFTA meeting schedule follows:

— March 23-24 Semi-annual Spring Summit and Board of Directors First Quarter Meeting, San Diego

— June 16 EFTA Board of Directors Second Quarter Meeting, Washington D.C.

— Sept. 14-15 Semi-annual Fall Summit and Board of Directors Third Quarter Meeting, Washington D.C.

— Nov. 7-10 EBT–The Next Generation II, Washington D.C.

— Dec. 7 EFTA Board of Directors Fourth Quarter Meeting, Miami.

For more information on EFTA’s Semi-annual Summit series please call 703/435-9800, or visit the web site at [www.efta.org][1].

About the Electronic Funds Transfer Association

Now in its third decade, the Electronic Funds Transfer Association is the nation’s leading inter-industry trade association dedicated to electronic payment systems and commerce. EFTA members include Fujitsu ICL Systems, Mag-Tek Inc., and Visa, Wells Fargo Bank, Benton International, and the Star ATM Network.

[1]: http://www.efta.org

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Skiing Card

First USA and the American Skiing Company are hitting mailboxes this week for the ‘American Skiing Company Edge Platinum VISA’. The program offers five reward points for each dollar spent at any American Skiing Company-owned resort and one reward point for all other card purchases. Cardholders receive a $10 Reward Certificate for each 1,000 reward points. The rewards are good towards for free lift tickets, lodging or merchandise at ASC-owned resorts. American Skiing owns Eastern resorts at Killington, Sunday River, Sugarbush, Mount Snow, Sugarloaf/USA and Attitash Bear Peak. Western resorts include Steamboat, Heavenly and The Canyons. First USA is offering its fixed 9.99% APR with no annual fee. First USA is also offering a free $40 fleece blanket for new cardholders using their card by Feb. 1. The complete solicitation is available via CardWatch ([www.cardwatch.com][1]).

[1]: http://www.cardwatch.com

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IFS at BAI

IFS International announced that it will be taking part in the BAI’s Retail Delivery ’98 Conference at the Sands Expo and Convention Center in Las Vegas from November 30th until December 4th, 1998.

The theme of the conference is “Bringing Strategic Vision to Life: Competing for Profits in the New World of Financial Services” addressing the technological changes and expanded set of banking products and services demanded by today’s consumers and will feature industry leaders and innovators.  IFS, with the TPII family of products, offers a proven solution using the newest computer technologies and is participating on Stand 1727 at the conference.

Simon Theobald, Executive Vice President, IFS International commented, “The theme of the conference is very relevant and timely.  We’re looking forward to participating and spotlighting our state-of-the art TPII system solution which integrates a wide range of electronic funds transfer functions. In particular, this year we are showcasing emerging stored value card and biometric payment card systems working in conjunction with the more traditional magnetic stripe TPII systems.”

IFS International’s subsidiary NCI International, Inc. is also participating in the conference, featuring their Business Centre(TM) product on Stand 3854.

IFS International, Inc. develops, markets, and supports software products for the Electronic Funds Transfer (EFT) market.  IFS International’s products are used to provide ATM, POS, smart-card, debit card management, bank teller, bank platform, home banking and call-centre solutions to the EFT industry. Its family of software products, marketed under the name TPII, serves as a manager of EFT systems for automated teller machines (ATM), point-of-sale (POS) and voice authorisation.  NCI International, Inc. adds complementary products including NCI Business Centre(TM), an enterprise-wide retail banking solution designed to automate all traditional as well as Internet/Intranet transactions.  IFS also provides a turnkey system for smart-card implementation.

IFS is headquartered in Troy, N.Y., with offices in the United Kingdom and Singapore.  For additional information in the U.S., call +1-518-283-7900, FAX +1-518-283-7336, E-mail [marketing@ifsintl.com][1], web page .

NCI is headquartered in Charlotte, N.C. with offices in the United Kingdom, Germany and Australia.  For information about NCI, call +1-704-527-4357, FAX +1-704-523-3502, web page .

[1]: mailto:marketing@ifsintl.com

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Providian Bravo

Providian Financial confirmed Wednesday that it has signed a definitive agreement to purchase 600,000 credit card accounts from Morgan Stanley Dean Witter’s Bravo card program, representing approximately $350 million in credit card loans. While Morgan Stanley Dean Witter does not officially release portfolio breakouts, it is projected the ‘Bravo’ card program has about 1.3 million accounts and approximately $715 million in total receivables. The company pulled the plug on the ‘Bravo’ program early this year and has plans to migrate the ‘Bravo’ program into the ‘Discover’ card program or other card programs run by MSDW. Details of yesterday’s deal were not disclosed however some analysts suggest Providian is paying a 12% premium for prime ‘Bravo’ accounts. The transaction is expected to close by the end of the year. Providian said the acquisition will be “mildly accretive” to 1999 earnings. According to CardData ([www.carddata.com][1]) Providian had 8.8 million accounts representing $9.7 billion in outstandings at mid-year.

[1]: http://www.carddata.com

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Indian Card War

Within days of American Express’ announcement that it will launch credit cards in India, the State Bank of India unveiled yesterday an aggressive ‘VISA’ card program with GE Capital. The bank says it will target middle-class Indians for the first time. India has a total of 3 million credit cardholders with a card charge volume of 50 billion rupees or US$1.2 billion and outstanding balances are about 20 billion rupees or US$512 million. GE and the State Bank of India project the number of credit cardholders in India will grow to 6 million by the year 2000 with annual charge volume soaring to 140 billion rupees or US$3.3 billion. The new card program will be managed by two joint venture companies. State Bank holds a majority stake in the issuing company, while GE Capital owns a majority stake in the processing company.

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Tele-FIND Test

Name Brand Sales Inc. announced that the subsidiary, Tele-FIND Technologies Corp. has completed beta testing of its unique Tele-com based system for the identification and retrieval of personal and business properties as well as medical data and other advanced applications.  Network services for the technology are provided by AT&T.

Tele-FIND is now poised to be the dominant player in Canada for its interactive voice recognition system (IVR) and data retrieval technology. The technology imbedded in its unique subscriber based smart card incorporates a bundling of various applications for uses ranging from practical retrieval of lost or stolen property to complex medical data storage and forwarding.  With the completion of the testing stage Tele-FIND is launching this technology through a number of national retailers and distributors and medical institutions.  To ensure an effective launch, Tele- FIND has recruited a group of experienced marketing persons who have extensive backgrounds in such national sales projects. Authorization (from CTC) has been given to test market Tele-FIND at various Canadian Tire Stores and other prominent retailers in Ontario for the 1998 Christmas season.

The smart card’s medical uses responds to a growing need to control, access and deliver private medical records, especially in emergency situations.  Tele-FIND’s unique voice retrieval system enables a subscriber to record, update, relay or transmit vital health and medical information in such critical cases as for example, when the subscriber is incapacitated and is unable to convey his personalized medical history or background to hospital staff.

Retrieval of virtually any valued property, from keys to bicycles, is another practical component of the smart card.  Tele-FIND’s technology reduces the finder’s effort of returning the property to making a single toll-free call to the owner.  This system answers numerous marketing studies’ conclusions that a finder will almost always act if his task is simplified.

Revenue from the smart card and its accessories is generated from the initial sale and from on-going recharges.  The medical and property retrieval systems remain in force for as long as billable time remains on the subscriber’s account, thus ensuring high recharge ratio and card retention. As the smart card is a product of a bundling of services, other features and upsales are provided to the user.  One such feature is the conventional prepaid calling card, which offers the lowest rates charged by existing providers.

There are 12 million issued and outstanding common shares of NBS.

NBS is now Year 2000 compliant.

/For further information: please call, Leesa Kaczmarzyk at (416) 699-3990/ (NBTF.)

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Smart Play in UK

VeriFone announced Wednesday that the City of Nottingham has selected VeriFone smart card terminals for use in the ‘Shop and Save’ smart card loyalty program. The smart card pilot is designed to stimulate commerce in Nottingham’s downtown area while also rewarding customers for supporting local shops, restaurants, hotels and city amenities. The city indicated yesterday it plans to deploy 250 of the VeriFone ‘OMNI 1250’ smart card terminals at local retail outlets by Christmas. The City Council distributed 100,000 smart cards to its residents at the kick off of the program in October. When shoppers make purchases at participating outlets, the smart card terminals log points equivalent to two per cent of the purchase price into the smart card’s memory. The City of Newcastle has also indicated a desire to implement a similar program.

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Republic I-Banking

Fundtech Ltd. announced that Republic National Bank of New York, a global leader in commercial banking, has chosen the ACCESS.pro suite of products from Fundtech to provide them with world-class internet banking software as the progression of their cash management suite.

“We were looking for an innovative solution that would expand the functionality of our electronic banking options and bridge us to the 21st Century,” stated Republic First Vice President Paul Campbell. “We have relationships with thousands of clients around the world. These clients depend on our ability to remain technologically innovative and supportive in order to support them quickly and efficiently. Fundtech’s ACCESS.pro family of products will enable us to provide superior service to our client base while expanding our market reach to a far broader segment than ever before possible.”

ACCESS.pro will give Republic the opportunity to provide its clients with access to a full complement of electronic banking services via a variety of input devices including Windows PCs, Internet browsers, audio response, fax and thin-client devices. It supports English, French, Spanish, Chinese and Japanese and will greatly reduce long-term service and support costs for the bank. The electronic banking applications encompass balance reporting, book and wire transfers, check management, ACH originations, positive pay, letter-of-credit and e-mail. In addition, the system features multiple levels of security, including end-to-end encryption, network level security, authentication, authorization, confidentiality, auditing and non-repudiation. It is both Y2K and Euro compliant.

“We are pleased that Republic has decided to adopt our industry-leading electronic banking solution for their world-wide client base”, said Paul Citarella, Fundtech’s Senior Vice President and General Manager. “Republic always has been recognized as a leader in providing its clients with tools and services to help them better manage their business needs. Our ACCESS.pro products will help them maintain and strengthen their position, as well as move aggressively into other markets”.

Republic National Bank of New York is a full-service international and domestic commercial bank with locations on five continents. Republic’s services include international and domestic private banking, institutional banking, consumer banking and middle market services, as well as acting as a dealer in high-quality bonds, precious metals, foreign exchange and interest rate swaps and other derivatives. The bank is a wholly owned subsidiary of Republic New York Corporation, a holding company with assets of $50.4 billion at September 30, 1998.

Fundtech Ltd. designs, develops, markets and supports a suite of mission-critical client/server software products that enable financial institutions and large business enterprises to process payments, transfer funds and manage their cash positions electronically. The Company’s products are among the most technologically advanced and cost-effective electronic payments, funds transfer and cash management solutions. The Company’s proprietary innovative software architecture, which is based on the Windows NT and UNIX operating systems, provides modular, scaleable, and secure solutions that have been sold to more than 180 financial institutions.

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Card Tranches

Credit Lyonnais is set to become the first to issue repackaged, subordinated credit card tranches. The $900 million securitization of the Credit Lyonnais’ CIA/CCA loan portfolio is being handled by Morgan Stanley with Bear Stearns and Credit Lyonnais Securities Inc. acting as co-managers. The deal should be available for the first quarter of 99. Reportedly the transaction will consist of two tranches of single A and triple-B notes, involving 23 loans to different credit card trusts and will be the first securitization of this asset class in the 144A market.

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Streamlining

Diebold announced yesterday it has centralized many of its customer and support services at the company’s new ‘Customer and Technology Support Center’ in Green, Ohio. Among services offered from Ohio: 1. Customer Response Center; 2. Systems and Software Support Group; 3. Event/status monitoring and 4. Systems Solutions Lab. With the technology and expertise located in the center, Diebold can now offer customers remote diagnostics, intelligent troubleshooting software and downloading of software fixes all via 1-800-DIEBOLD.

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Triton at BAI

Triton Systems, Inc., the nation’s leading manufacturer of cash-dispensing automated teller machines for off-premise locations, announced Triton’s participation in the Bank Administration Institute’s “BAI” Retail Delivery ’98.  Triton is the off-premise ATM market innovator and the only one of the top three ATM manufacturers that focuses solely on the off-premise ATM market.  At the show, Triton will demonstrate several products and technologies in its booth that make it more profitable and feasible for financial institutions to participate in the rapidly growing off-premise ATM market.

Triton Systems will exhibit in booth #4030 at Retail Delivery ’98 Exhibit Hall at the Sands Expo and Convention Center in Las Vegas, NV, December 1-3, 1998.  Industry-leading products and technologies to be demonstrated at Triton’s booth include:

* The Mako Cash Dispenser, a new kind of ATM that makes it feasible for banks to operate ATMs in lower volume locations.  The Mako ATM is less expensive to purchase and maintain than other alternatives, yet it has high- end features and is “media ready” for financial institutions wishing to create new revenue streams by advertising on their network of ATMs.

* The new SuperScrip terminal, a multi-function dispenser of scrip cash vouchers, coupons, tickets and more that features customized advertising capability at a fraction of the cost of a full-size ATM.

* Triton’s high-security Triton 9620 series ATM running full-motion video advertising.  This demonstration highlights Triton’s effective approach to full-motion video advertising, a key component of Triton’s upcoming comprehensive advertising package.  The few manufacturers that offer ATMs capable of running video advertisements run them on the ATM screen, visible only to the person making the ATM transaction.  In contrast, Triton ATMs run full-motion video advertisements on the ATM “topper,” which catches the attention of, and can be viewed by, other patrons nearby.

* The Triton 9640, a new multi-cassette ATM model from Triton that generates income by dispensing items such as stamps, coupons, prepaid telephone cards, and other media using friction-feed dispensing technology.

* Triton’s most popular model, the 9600, featuring Cellular Digital Packet Data (CDPD) transmission technology and a demonstration of Triton’s new visually brilliant 256-color monitor ATM screen.  CDPD, a digital wireless communications technology that bypasses the regular phone system, offers a low-cost alternative by providing the speed of lease-line transmissions at dial-up prices and eliminating the need to install a dedicated telephone line.

* The HiCo ATMjr. Plus CAS (Card Activation System). HiCo, or high coercivity encoding, is the new magnetic stripe technology being introduced to the financial card industry that offers benefits to card issuers and card holders alike.  HiCo encodes a card’s magnetic stripe with a higher magnetizing force, making it more resistant to erasure.

* The Triton VendMate sidecar on Triton’s industry-leading 9600 series cash-dispensing ATM.  The VendMate, which can be easily customized to dispense movie tickets, ski lift tickets, gift certificates, pre-paid phone cards and other media, creates new revenue opportunities for financial institutions by accepting cash and dispensing customizable vending items.

At the show, Triton also will announce certification by leading banking industry processors, making it easier for banks to deploy Triton’s cost- effective ATMs, which were the first in the industry to be based on dial-up transmission technology.  “Triton’s value proposition for financial institutions is threefold.  First, we’re making it easy for financial institutions to deploy ATMs by becoming certified by the major bank processors.  Second, we’re reducing the cost of deploying and maintaining ATMs in lower volume locations by offering feature-rich, cost-effective ATMs.  And third, we’re opening up additional revenue opportunities to supplement surcharging fees including vending items and advertising,” said Dr. Burdette.

About Triton Systems

As the leading manufacturer of cash-dispensing ATMs for off-premise locations, Triton Systems is committed to redefining and leading the retail market for cash delivery systems.  As the third largest manufacturer of ATMs and ATM management software, Triton has been named two years in a row to Inc. Magazine’s “Inc. 500” ranking of the largest privately-held companies in the U.S.  Triton was also named one of America’s top 25 most successful small manufacturers by Industry Week Growing Companies in November 1998.

Triton’s product line includes the industry-leading 9600 series cash- dispensing ATMs, with various communication network interfaces such as CDPD. Additional products include the Triton Connect Software Package for accessing and controlling ATMs from a centralized location, ATMjr Demonstrators and Card Activation System for financial institutions, SuperScrip terminal, the new Mako Cash Dispenser and the VendMate sidecar, which accepts cash and dispenses vending items such as tickets, certificates, and phone cards.

Triton ATMs are in use in over 20,000 locations in the U.S., with recent expansion into Canada, Latin America and other regions throughout the world. The company is headquartered in Long Beach, Mississippi.  For more information, visit the Triton Systems website at or contact Mary Edith Dressel, [mdressel@trtn.com][1], 800-367-7191, ext. 3122.

[1]: mailto:mdressel@trtn.com

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Homeside E-Bill

Through an agreement with CheckFree , Jacksonville, Fla.-based HomeSide Lending now makes it easier for its 1.4 million customers to receive and pay their monthly mortgage bill using their personal computer.  HomeSide Lending recently began marketing its new E-Bill Payment Services to its customers through quarterly mortgage statements and the company’s Web site, and plans to continue an aggressive campaign during the next three months.

“We’re already receiving a very positive response to this new service,” said Megan Fannin, first vice president of HomeSide Lending.  “Within just a few weeks, we have seen a dramatic increase in the number of customers indicating they would like to begin receiving and paying their bills electronically, and we expect the number of new enrollments to continue to grow.”

Powered by the CheckFree E-Bill service, HomeSide Lending customers are now able to receive an electronic version of their monthly bill, complete with color graphics, logos and full-billing detail, on their personal computer.  Customers simply click to approve the bill for payment, and the amount of the bill is deducted electronically from their designated bank account.  HomeSide Lending E-Bill Payment Services customers can also save past bills on their computer or print them for future reference.

HomeSide Lending customers can enroll to receive and pay their monthly mortgage statement by visiting the CheckFree E-Bill Web site at [https://www.mybills.com/ebill][1].  A link to the site is also available through HomeSide Lending’s Web site at .

“HomeSide Lending is one of a growing number of companies that are making it easier for their customers to receive and pay bills,” said Matt Lewis, senior vice president of Electronic Commerce Product Management and Marketing for CheckFree.  “E-Bill is more convenient to use than paper, and it makes the HomeSide brand more valuable to their customers.”

The ability to view and pay bills over the Internet allows consumers to manage personal finances with their home computer.  CheckFree E-Bill enables the consumer to go to one Web site, receive and pay multiple bills without the cost of postage, and eliminate the hassle of check writing.

Companies currently offering electronic bills to their customers through contracts with CheckFree include many of the nation’s larger billers and the nation’s largest statement processor.  Combined, these companies represent the potential for more than 400 million electronic transactions per month.  Recent CheckFree E-Bill agreements include AT&T, Bank One, Intuit’s Quicken.com, Public Service Company of New Mexico, Southern California Edison and Washington Water Power.

About HomeSide Lending

HomeSide Lending Inc., is one of the world’s largest full-service residential mortgage banking companies.  Headquartered in Jacksonville, Fla., HomeSide originates or purchases home loans in all 50 states and has a servicing portfolio of approximately $115 billion, representing more than 1.4 million homeowners.

About CheckFree

Founded in 1981, CheckFree (), the operating subsidiary of CheckFree Holdings Corporation, is the leading provider of electronic commerce services, software and related products for more than 2.5 million consumers, 1,000 businesses and 850 financial institutions.  CheckFree designs, develops and markets services that enable its customers to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure transactions on the Internet.

CheckFree introduced the nation’s first live, market-tested system for electronic bill presentment and payment in March 1997, after completing a successful two-year pilot program.  CheckFree E-Bill is the only fully integrated, end-to-end system for electronic presentment, payment and tracking of richly formatted bills over the Internet.  CheckFree E-Bill uses existing payment systems and allows consumers to access and pay their bills through the Web site of their choice.  A demo of CheckFree E-Bill is available at the CheckFree Web site.  For corporate sales information, call 1-800-532-9696.

[1]: https://sss.mybills.com/ebill

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