John M. Lopes, Chief Executive Officer of
WebEngine Corporation is
pleased to announce that the Corporation has been invited to make a
presentation to the Governor of the National Bank of Yugoslavia and the Board
of Directors of P&P Banka, Belgrade for a complete re-development of the
bank’s existing technical infrastructure and sixteen of its branches located
through out Yugoslavia. WebEngine is the only company invited to present a
proposal to the bank. It is scheduled that WebEngine will present its multi-
faceted proposal over the course of this coming week. The WebEngine proposal
is valued at US$5 million. “Pending acceptance of the proposal, this will mark
the first step in WebEngine’s strategy to market its products and services to
the Eastern European financial services sector,” remarked John M. Lopes,
President & CEO, WebEngine.
The current proposal involves developing Internet banking capabilities,
replacing 300 work stations with state of the art hardware and software,
creating a new Virtual Private Network and Local Access Network for switching
secure transactions for more than 500 automated teller machines (ATMs) as well
as supplying tools and applications for treasury monitoring and securities
trading. WebEngine, in conjunction with P&P Bank, will also pilot a project of
selected bank merchants for a Point of Sale (POS), debit card, credit card,
and loyalty card program to 5,000 of P&P Bank’s more than 20,000 merchants.
“These infrastructure upgrades are necessary for both the bank and its
merchants to provide value-added services to consumers and to facilitate the
evolution of both merchant banking and retail consumer deposits,” commented
Dr. Peter Lukesch, director of P&P Bank and WebEngine.
Publicly-listed on the CDNX (YWE), WebEngine Corporation is a financial
transaction facilitator. The Company develops and markets sophisticated
solutions and provides advisory services to enable its clients to integrate
leading edge processing and security capabilities into their operations. Its
range of product offerings includes secure banking system infrastructure
development, credit card processing, clearing and settlement.
About P&P Bank:
Headquartered in Belgrade and with branches located throughout
Yugoslavia, Prva Preduzetnicka Banka A.D., is focused on serving small and mid-
sized companies. The Bank was established in 1992 to encourage the development
of private entrepreneurship in Yugoslavia and is focused on delivering
innovative financial services to its clients. P&P Bank has more than 13,000
depositors and in excess of 23,000 active accounts. (The Bank has assets of
approximately 3.4 billion dinars (US$51 million), the bulk of which (45%) is
held in cash.