||IFS International, Inc.
IFS International Inc., incorporating the IFS International and
NCI divisions, develops, markets and supports software solutions
for financial transaction processing, serving domestic and international
customers in banking, finance and electronic commerce.
TPII is IFS Internationals family of open architecture software
products for payment card ATM/EFTPOS terminal management, payment
card authorization, domestic and international transaction switching
and management information. The product also supports Stored Value
Card (Chip card) reloads and was heavily influenced by IFSs large
customer base and RDBMS technology with the aim of meeting customers
business requirements into the 21st Century.
The Twin Safe Server combines an innovative software server and
teller application to support the ASCOM Twin Safe cash recycling
device in retail banking environments world wide.
Business Center is NCIs browser-based, networked system that
meets financial institutions business requirements of delivery
channel management, including teller, marketing, call center,
platform and virtual banking plus management information, by bringing
together state-of the-art network and database technology.
As the financial industry migrates from older "legacy" technologies
to the new technologies of the products detailed above, IFS International
also provides a selection of 4700 banking terminal conversion
and migration products that are being used as "stepping stone"
solutions by major banking corporations around the world.
TP-CMS is IFS Internationals newest addition to the Companys
product portfolio. TP-CMS is currently in closed release and is
due for global release during the second half of 1999. The product
is an open architecture payment card management solution for credit,
debit, electronic purse and biometric cards. Incorporating the
latest technologies available for information management, TP-CMS
enables IFS to provide a complete migration of a banks payment
card systems to start-of-the-art solutions.
As open architecture systems, the IFS products are certified with
the Oracle RDBMS and all the industry standard hardware systems
including: IBM AIX, Tandem UX, Digital Alpha, HP-UX, Sequent,
Unisys, NCR, Sco UNIX and Microsoft Windows NT.
IFS parent company is headquartered in Troy, New York, and has
subsidiary offices in North Carolina, Singapore, United Kingdom,
Germany and Australia.
IFS has customers in over 35 countries and include:
|Allied Irish Bank, Ireland
||Moscow Savings Bank, Russia
|American Savings Bank, USA
||Nakornthon Bank, Thailand
|Baltic Card Center, Latvia
||National City Corporation, USA
|Bank of Kuwait & Middle East, Kuwait
||Pankade Kaardikeskus, Estonia
|Bank Handlowy, Poland
||Sampath bank, Sri Lanka
||Siam City Bank, Thailand
|Budapest Bank, Hungary
||St. George Bank, Australia
|Czech Savings Bank, Czech Republic
||Toronto Dominion Bank, Canada
|Capital Federal Savings, USA
||Trustees Savings Bank, Ireland
||Transilvania Banca, Romania
||TuranAlem Bank, Kazakhstam
||VISA Citibank, USA
||VISA International, Japan & UK
|KredytBank PBI, Poland
Milestones and Key Developments
7/99 - IFS plan to launch new payment card management product,
6/99 - IFS announces provision of Visa Cash Smart Card System
for major Japanese program.
5/99 - IFS announces expansion of Asian and Australian operations.
IFS takes equity position and licenses TPII products to major
Bangladesh transaction processing switch.
4/99 - IFS appoints DMS as distributor in Sri Lanka and licenses
TPII to Sampath Bank in Sri Lanka.
3/99 - IFS agrees to assist Visa International in implementation
of Common Electronic Purse specifications (CEPS). Gaylon Howe,
Senior Vice President, Chip Products at Visa stated, "IFS will
play an important role in providing support for Visa members as
they start to implement Visa Cash electronic purse programs based
on CEPS. By working with us on Visas implementation of the CEPS
specifications IFS is helping to maximize the potential of this
new technology and to encourage growth around the world."
2/99 - IFS upgrades Russian distributor to partner status; announces
a TPII upgrade in Kazakhstan and a new TPII license to Alfa Bank.
1/99 - IFS initiates marketing campaign in South America.
12/98 - IFS unveils and demonstrates a comprehensive home banking
system through the first public live demonstration of the TPII
and Business Center products at the BAI Retail Delivery Conference
in Las Vegas, Nevada.
Pennsylvania Merchant Group, an investment banking company from
West Conshohocken, PA states, "We believe major currents in the
global banking industry, such as multinational consolidation and
direct banking enabled by the Internet, are spurring the needs
for an alternative to the unwieldy legacy banking systems in place
The majority of large financial institutions around the world
still tend to rely on legacy technologies to process their transactions.
Legacy systems were clearly the most appropriate solution to banking
solutions 20, 15, even ten years ago. However, as the business
requirements of financial organizations have changed, so to has
the technology become available.
Financial institutions now require a proactive approach to their
strategic planning and a reactive approach to daily operations,
requiring not just access to information, but the interpretation
of this information in real time to allow appropriate timely business
decisions to be made. IFS TPII family of EFT products provides
this processing and real time management information through the
integral incorporation of the Oracle Relational Database and presents
this powerful functionality to the business executives of financial
organizations through an industry standard "point and click" operational
interface. The days of information requests and report variations
being sent to an operations department for processing and taking
weeks or months are over. IFS customers are using TPII to identify
and implement strategic initiatives to attract new customers while
others are still wondering how to get the information to begin
As bank branches become more like retail stores, with the mass
removal of bars at the teller windows, new solutions had to be
found for secure cash management in the branches. The NCI Twin
Safe Servers, together with cash recycling machines, are being
implemented to provide an appropriate solution that does not require
a complete overhaul of all the banks systems.
As the international payment card brand organizations, i.e Visa,
Mastercard, American Express, aggressively move the payment card
market towards the secure, value-added electronic purse (smart
card) card, once again it is IFS products that are driving this
technology with systems in the Visa International processing centers
in the USA, UK and Japan.
As banks grapple with the need to re-engineer their infrastructure
systems and look to platform products, it is the Business Center
products of NCI that provide the solution for the new delivery
channels that are being implemented such as call centers, home
banking and virtual banking.
Through the delivery of products that utilize state of the art
technology, incorporate appropriate functionality, information
interpretation and management and a simple-to-use graphical user
interface all delivered as a reliable, secure product solution,
it is the products of IFS International that the financial institutions
are migrating to as they move from the unwieldy legacy banking
systems in place today" to the next generation of banking systems.
- IFS International have firmly established themselves as one of
the market leaders in payment card processing systems. Initial
marketing focus on the emerging markets, such as Central and Eastern
Europe led to rapid growth and has been followed by successful
sales and marketing expansion world-wide. The TPII family of EFT
products is now gaining new "blue chip" customers such as CitiBank,
Sampath Bank, Trustees Savings Bank and Visa International world
wide as these organizations move from the older legacy systems
to the new technologies of IFSs products.
- NCI legacy migration products have been providing the appropriate
solution at the appropriate time to organizations grappling with
the need to sustain existing systems while moving to the new technologies
such as those offered by IFS International. Organizations such
as National City Corporation, who have taken the NCI products
to enhance and standardize teller functions in 1,300 bank branches
in six USA states, remain a market focus area for NCI.
- Both the IFS and NCI subsidiaries of IFS International are successfully
delivering new product sets, namely TP-CMS and Business Center
this year, to complement the Companys existing product line.
- Technological superiority of IFS International products have led
to rapid sales team growth with the Companys offices being expanded
in Europe and Asia. Marketing campaigns have been initiated for
the first time in Africa, India and South America with inaugural
customers for the Company recently being signed in each of these
- In the last couple of months, IFS have taken an equity stake in
a major national payment transaction processing center, in Bangladesh,
and is looking to replicate this scenario in other countries.
The equity stake in lieu of license fees for use of the TPII product,
allows IFS to now receive a fee for every transaction processed
through this national system. In the UK, IFS subsidiary, NCI
Ltd, has recently taken over the facilities management of a settlement
system for the money brokering community.
- Through a structured campaign of customer understanding, customer
care and customer management, IFS International has seen its recurring
maintenance fees for product support increase dramatically in
the past year. Furthermore, over 90% of maintenance-paying TPII
customers have purchased additional products and services from
IFS International within the last 12 months.
IFS Internationals publicly-held competitors includes Transaction
System Architects Inc. (Nasdaq: TSAI) and SLM Software (TSE: ESP).
IFS INTERNATIONAL-MEETING ITS CUSTOMERS BUSINESS REQUIREMENTS
- AROUND THE WORLD
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