IFS International, Inc.announced that following the
acquisition of TSB Bank Ireland by the Irish Life and Permanent Group plc
(IL&P) in Ireland, TPII has been selected to manage the entire network of
Automated Teller Machines (ATM) for the new group. As a result of the
acquisition IL&P are to create a new banking entity branded as Permanent TSB.
TPII was originally installed at TSB Ireland in 1994 and will continue to
run and manage the network of ATMs for the Permanent TSB network. The
existing Irish Permanent ATMs are now being migrated from the current
outsourced processing center solution to TPII.
IL&P carried out a thorough evaluation of the existing TPII system, based
on the technical architecture of the product, its performance, the cost of
ownership and potential to meet future requirements. As a result of this
evaluation, IL&P has confirmed that the existing TPII system will be expanded
to accommodate the requirements of the newly enlarged bank.
Alistair Clarke, Regional Director, EMEA, said, “IFS is delighted that
TPII has been chosen by the IL&P Group as the long-term solution for
transaction processing. IFS is looking forward to working and cooperating
with IL&P Group as this forward-thinking organization works toward its
Maurice O’Connor, Head of IT at TSB Bank, commented, “We are pleased to
continue our relationship with IFS International, Inc. We have found TPII to
be a resilient product ideally suited to support the expanding ATM network of
In additional unrelated news, in a press release dated June 6, 2001, the
Company indicated that the outstanding convertible notes, originally issued
over 12 months ago, had been reduced to $118,000. The Company is now pleased
to inform shareholders that the outstanding balance of these convertible
notes, with an original value of over $1,000,000, has been converted and is no
About IFS International Holdings, Inc.
IFS International, Inc. and Network Controls International, Inc. are
subsidiaries of IFS International Holdings, Inc., which has headquarters in
the USA and subsidiary offices in the USA, UK and Australia.
IFS International, Inc. develops, markets and supports software products
for the electronic financial market. IFS International’s TPII and TP-CMS
products provide support for ATMs, Point of Sale devices, network switches,
smart cards and card management. IFS International’s subsidiary, Global
Insight Group, is a supplier of strategic business and technical
implementation support services to the Retail Finance Industry.
NCI, Inc. develops innovative retail delivery applications like NCI
Business Centre(TM) which combines network centric and browser-based
technologies in “One Application” to automate all delivery channels such as
branch teller, platform service, call center, Internet banking and customer