SmartCash ATMs in San Fran

Greenland Corporation announced the sale and installation of two SmartCash ATM machines in San Francisco, California.

Dr. Lou Montulli, CEO of Greenland Corporation stated, “On September 10, 1999, Greenland Corporation completed the sale and installation of two SmartCash ATM machines in San Francisco, California. The installations were at the Better Food Market located on 3149 Balboa Street, and the Filmore Market located on 1669 Filmore Street. Each location is your normal grocery store that services, in one instance, a primarily Korean client base, and in the other a primarily multicultural client base. Both machines feature check cashing, ATM, and money order services.”

Dr. Montulli further indicated that the next installations are scheduled for Atlanta, Georgia; Hickory, North Carolina; Sacramento, California; and Balto, Maryland.

Greenland Corporation is a manufacturing corporation with existing product and product under development. The Company is currently introducing an automated payroll check-cashing machine with full ATM functionality, and money order dispensing services. A future service to be included with the machine is advance payday loans.


Hard Body Hybrid Terminal

Mag-Tek Inc. unveiled this week a new line of card readers required for applications where both mag stripe cards and smart cards are used. The ‘IntelliStripe 60’ and ‘IntellStripe 65’ lines of vandal-resistant, hybrid card readers are utilized in unattended self-service applications such as pay phones, vending machines, ATMs and kiosks. The ‘IntelliStripe 60 and 65’ are modular in design enabling full customization. Options include: triple track magnetic card reading, eight or 16 contacts for smart cards, security gate, card latch/lock, fraud/wire detection system, power fail card release system and various mounting and bezel configurations. Both of these readers are durable in design and will provide a minimum of 1 million operations. The ‘IntelliStripe 60’ has very low power consumption and can be placed in a sleep mode when not in use. The reader can operate at 3 or 5 volts. The ‘IntelliStripe 65’ has an on-board microprocessor. The on-board microprocessor supports the maximum allowable data transfer rate of 115kbs.


TSYS Enters Pre-Paid

Total System Services signed an agreement yesterday to purchase a 40% equity position in Prepaid Technologies. Birmingham, AL-based PT is a product development and sales company for stored value cards. The deal provides for TSYS to ratchet-up its equity position in the future. According to the terms of the agreement, TSYS and PT will jointly market VISA and MasterCard branded prepaid card products, beginning with prepaid payroll cards, to TSYS clients and other financial institutions. The prepaid cards, marketed as ‘IN’ cards, are stored value cards utilizing existing mag stripe technology and current bank processing systems to create fully electronic transactions. Targeted markets for prepaid cards include expense cards, gift cards, incentive cards and payroll cards. Prepaid payroll cards target the unbanked consumers.


SmartDisk Names News Board Members

SmartDisk Corporation, a company focused on providing simple, innovative solutions that advance and enhance the use of miniature storage media and smart cards, Thursday announced that it has named Hatim A. Tyabji to its board of directors. Mr. Tyabji is currently chairman and CEO of Saraide, a world leader in the delivery of Internet-based services to wireless devices, and serves on the board of directors of Ariba, Best Buy, Deluxe Corporation, Novatel Wireless and PubliCARD Inc.

“Hatim possesses more than 30 years of corporate leadership experience including senior management positions at VeriFone, Inc. and Sperry Corporation,” said Addison M. Fischer, Chairman, SmartDisk Corporation. “He brings to SmartDisk an invaluable, well-rounded understanding of the information technology industry.”

Mr. Tyabji has served as chairman and CEO of Saraide since the company’s launch in February 1999. In this short time period, the company has successfully positioned itself as an industry leader in the wireless data services market. Under Mr. Tyabji’s direction, Saraide has attracted significant investment from industry leaders such as Nortel, Microcell, Omnipoint, GSM Capital and Ericsson. The company has also executed the acquisition of wireless data pioneer, GSM Information Network B.V. (GIN), the Netherlands.

From 1986 to 1998, Mr. Tyabji was president and CEO of VeriFone, Inc. and a member of the company’s board of directors. He also served as chairman from 1992 to 1998. Under his direction, VeriFone’s annual revenues grew to $600 million, and the company evolved into a global provider of comprehensive system solutions.

Prior to his appointment at VeriFone, Mr. Tyabji spent 13 years in management positions at Sperry Corporation.

Mr. Tyabji holds a B.S. in electrical engineering from the College of Engineering in Poona, India, and a M.S. in electrical engineering from the State University of New York at Buffalo. Mr. Tyabji also has an MBA in international business from Syracuse University and is a graduate of the Stanford Executive Program. In addition, he serves on the Dean’s Council at the State University of New York at Buffalo, and is a member of the advisory board of the Leavey School of Business at Santa Clara University.

SmartDisk Corporation, a company focused on providing simple, innovative solutions that advance and enhance the use of miniature storage media and smart cards, also announced that it has appointed Joseph M. Tucci to its board of directors. Mr. Tucci also serves as deputy CEO and is a management board member of Getronics.

“We are pleased to have someone of Joe’s caliber on the SmartDisk board of directors,” said Addison M. Fischer, Chairman, SmartDisk Corporation. “His vast experience and expertise in the technology industry make him a valuable resource for our company.”

Mr. Tucci was named deputy CEO and management board member of Getronics in June 1999, when the company acquired Wang Global. From January 1993, he served as president and chief executive officer of Wang and was elected its board chairman and CEO in October 1993. Under his leadership, Wang evolved from a worldwide manufacturer of mid-range computers into a global leader in networked technology services and solutions. Prior to January 1993, Mr. Tucci was Wang’s executive vice president of operations and was responsible for all sales, marketing, service and support.

Before joining Wang, Mr. Tucci was president of U.S. Information Systems with Unisys Corporation, a position to which he was appointed shortly after the company’s creation by the 1986 merger of Sperry and Burroughs. At that time, he also had been named to the seven-member Unisys management board. In addition, in 1987, Mr. Tucci served as president of Unisys’ public sector systems division, a $750 million business, and, from 1985 to 1987, was group vice president of Sperry/Univac’s U.S. commercial operations, a $1.2 billion organization with 6,800 employees.

Mr. Tucci holds a BA from Manhattan College and an MS from Columbia University.

SmartDisk Corporation, a company focused on providing simple, innovative solutions that advance and enhance the use of miniature storage media and smart cards, also announced that it has named Anthony A. Ibarguen to its board of directors. Mr. Ibarguen is currently president and COO of Tech Data Corporation, a Fortune 500 company and, with $11.5 billion in sales last year, the world’s second largest full-line distributor of technology products. He also is a member of Tech Data’s board of directors.

“Tony has extensive experience in the technology sector, with emphasis upon large-scale distribution and information services,” said Addison M. Fischer, Chairman, SmartDisk Corporation. “His industry savvy and business acumen will be a valuable asset to SmartDisk.”

Mr. Ibarguen joined Tech Data Corporation in September 1996 as president of the Americas and was appointed president and COO in March 1997. Tech Data is distinguished in the industry today for its consistent success and innovation. The company’s financial results, Internet commerce capabilities and value-added services have continued to outpace competitors under Mr. Ibarguen’s leadership. Tech Data’s pioneering FactoryDirect program, for example, has been heralded as the most progressive development to date in streamlining the supply chain for IT solutions.

Prior to joining Tech Data, he was executive vice president of sales and marketing at ENTEX Information Services, Inc. He began his career at IBM in marketing.

Mr. Ibarguen holds a bachelor’s degree in marketing from Boston College and an MBA degree from Harvard University.

About SmartDisk Corporation

SmartDisk Corporation designs, develops and markets products that simplify the digital lifestyle. Its patented product solutions enable the easy transfer of images, music, voice and data among personal computers, the Internet and various types of digital appliances that use flash memory cards and/or smart cards. SmartDisk’s objective is to utilize its proprietary technology to capitalize on the growing demand for digital appliances and increased usage of the Internet. The market for SmartDisk’s solutions includes users of the ubiquitous and resilient 3.5-inch floppy disk drive, found worldwide on most personal computers. SmartDisk’s investors include Toshiba Corporation, Fischer, Hitachi, NEC, SanDisk, SCM Microsystems and others. For more information, go to [][1].



CyberGold Goes Public

Cybergold announced Thursday that its initial public offering of 5,000,000 shares of common stock has been priced at $9 per share through underwriters led by SG Cowen Securities Corporation. Cybergold has granted underwriters SG Cowen Securities Corporation, CIBC World Markets Corporation, Volpe Brown Whelan & Company, and E*Offering Corporation an option to purchase up to 750,000 shares to cover over-allotments.

The common stock will begin trading on the NASDAQ National Market under the symbol “CGLD.”

Cybergold intends to use the proceeds from the offering to market and promote its brand as well as for general corporate purposes including working capital and capital expenditures.

Copies of the final prospectus related to the offering can be obtained from SG Cowen Securities Corporation at One Financial Square, 28th floor, New York, NY 10005, telephone: (212) 495-6000; CIBC World Markets Prospectus Department, World Financial Center, 200 Liberty Street, New York, NY 10281, telephone: (212) 667-7000; Volpe Brown Whelan & Company at One Maritime Plaza, 5th floor, San Francisco, CA 94111, telephone: (415) 274-4400; or E*Offering Corporation at One Market Street, Steuart Tower, 4th floor, San Francisco, CA 94105, telephone: (415) 618-6200.

Cybergold is a leading provider of Internet-based direct marketing and advertising solutions, including incentive programs which reward consumers with cash for their attention or specific response to ads and promotions. Cybergold’s business revolves around its Earn & Spend Community(TM), where its over 2.6 million members can use the incentive money they earn to buy digital content, services and products. The company’s pay-for-performance service offers advertisers and online merchants lower, more predictable customer acquisition costs. Cybergold consistently ranks among the 100 most visited web sites, according to PC Data Online. Cybergold’s partnerships include: Visa USA, MBNA, AOL, EarthLink, E*TRADE, Quintel and Autobytel. Headquartered in Oakland, California, Cybergold also has offices in Dallas, New York, and Washington D.C. It counts Intel (Nasdaq:INTC) among its corporate investors.


Destiny/Fleet Agreement

Destiny, formerly Destiny Software, announced Thursay that Fleet Credit Card Services, Horsham, PA, has entered into a multi-million dollar agreement for its e-business services. Destiny will work closely with Fleet’s credit card unit to develop and refine Fleet’s web strategy and to continuously launch leading online credit card offerings.

Fleet and Destiny will leverage the latest in web technology to deliver next generation services to consumers. The Internet platform will include targeted acquisitions, cross-marketing and customer management capabilities, intelligent applications and interactive, personalized customer services.

![][1] “Today’s announcement illustrates Fleet’s commitment to a unique and powerful presence on the Internet. Fleet recognizes that the rules are different on the web and that institutions must compete differently,” commented Lucinda Duncalfe, chief executive of Destiny. “Our set of web-based services combined with Fleet’s marketing prowess should produce industry leading results in very short timeframes. The web is changing the landscape of financial services and this long-term commitment to constant innovation is the way to ensure competitive advantage.”

“Our goal is to provide a unique and differentiated online experience for our customers throughout their entire relationship with Fleet, from initial marketing contact through acquisition, servicing and ongoing relationship management,” commented Joe Saunders, Chairman and Chief Executive Officer of Fleet Credit Card Services. “The Internet creates tremendous opportunity for us, but we also recognize that it demands a new orientation. Together with Destiny, we have all of the necessary skills to lead in this new arena.”

“Destiny’s deep understanding of our market and web technologies will be invaluable as we deliver innovative products and services to attract and retain cardholders. With today’s announcement, we’ve made Destiny an integral part of our team to achieve these goals and become a pioneer on the web,” added Warren Wilcox, Executive Vice President of Planning and Development for Fleet Credit Card Services.

Under the terms of the multi-year agreement, Fleet has retained Destiny to provide all of the services needed to build an online business, including strategic consulting, technology architecture, web design, electronic relationship management, application development, and systems integration.

About Fleet Credit Card Services

Fleet Credit Card Services, based in Horsham, Pennsylvania, is the nation’s eighth largest bankcard issuer. Part of Fleet Financial Group, Fleet Credit Card Services has more than $14 billion in managed receivables and more than eight million credit card customers.

Fleet Financial Group, headquartered in Boston and listed on the New York Stock Exchange (NYSE: FLT), is a diversified financial services company with $107 billion in assets and $87 billion in assets under management. Fleet is the nation’s sixth largest commercial lender and New England’s leading small business lender. Fleet’s products and services include consumer banking, government banking, mortgage banking, private banking, corporate finance, commercial real estate lending, credit cards, insurance services, cash management, trade services, export finance, capital markets, equipment leasing and asset-based lending. Fleet also provides a wide array of investment management services for both individuals and institutional clients and operates the nation’s third largest discount brokerage firm through its Quick & Reilly, Inc. subsidiary. With 1,150 branches and 2,400 ATMs, Fleet also provides 24-hour telephone banking as well as on-line banking services for individuals and businesses.

About Destiny

Destiny is a leading provider of e-business solutions to the world’s premier financial institutions. Through its integrated set of e-business services, which include online strategy, web design/branding, architecture consulting, electronic relationship management, and systems integration, Destiny helps financial services companies build competitively differentiated web businesses. Destiny’s extensive experience and innovative approach to working with clients, WebCycle(SM), ensures the utmost in speed to market and flexibility. Destiny’s clients include Bank of America, The Northern Trust Company, Chase Manhattan, Fleet Financial, and First USA (a Bank One subsidiary). The company’s web site is located at [][2].

[1]: /graphic/fleet/fleet.gif


BankServ Internet

San Francisco-based BankServ has formed a new Internet Payments division and has named Gary R. Craft to head the unit. Craft, former electronic financial services analyst for online investment banking firm E-Offering and a principal at BancBoston Robertson Stephens, will serve as CEO of the new entity. Bankserv says the new unit will facilitate merchant settlement and lower the overall cost of accepting payments online. BankServ is in the process of securing a new round of private financing to fund the Internet Payments unit. The company is preparing to launch an IPO sometime next year. Early investors in BankServ include Thomson Financial Services. Thomson Corporation units include American Banker/Bond Buyer and Faulkner & Gray.



The Board of Directors of Credit Management Solutions, Inc. announced Thursday that it has appointed Scott L. Freiman, Executive Vice President and co-founder of the Company, to assume new responsibilities as President and Chief Executive Officer following Peter M. Leger’s decision to resign from the Company.

In two related moves that will add further depth to the management structure of CMSI, Miles H. Grody, Senior Vice President, will assume the position of Chief Operating Officer, and John J. McDonnell, Jr. has been appointed Chairman of the Board, succeeding James R. DeFrancesco. As the Company’s co-founder and largest individual shareholder, Mr. DeFrancesco will continue his role as a Director and serve as an advisor to the Company.

Mr. Leger, who had been serving as CMSI’s President since early in the fourth quarter of last year when he joined CMSI from Automatic Data Processing, attributed his decision to leave the Company to personal reasons, citing the fact that since joining CMSI he has been largely separated from his family, who have not been able to relocate to the area from Chicago.

Mr. Freiman, 36, has served as the Company’s Executive Vice President and as a Director since 1987. Most recently Mr. Freiman has served as Business Line Manager for the Company’s e-Commerce/ Internet Commerce Division where he was instrumental in formulating the Company’s e/i-Commerce strategies. From 1985 to 1987, he was Technology Director of American Financial Corporation, an automobile finance/leasing company, where he worked with Mr. DeFrancesco to create the Company’s credit origination software. Prior to 1985, Mr. Freiman served as a development engineer for IBM and AT&T Bell Laboratories.

Mr. Grody, 43, has been a Senior Vice President and a Director of the Company since June 1995 and has held various senior positions including General Counsel, Corporate Secretary and Business Line Manager for the Company’s Credit Decisioning Division. From January 1993 to June 1995, Mr. Grody served as Chief Operating Officer and Director of Tomahawk II, Inc., a document imaging and conversion services company. From January 1992 to January 1993, Mr. Grody was a partner in the law firm of Rowan & Grody, P.C. From 1988 to January 1992, Mr. Grody was Corporate Counsel for Perot Systems Corporation.

Mr. McDonnell, 61, has served as a Director of CMSI since November, 1996. He has been President, Chief Executive Officer and a Director of Transaction Network Services, Inc. of Reston, VA, a nationwide communications network company specializing in transaction-oriented data services, since founding that firm in 1990. Transaction Network Services announced in late August a definitive agreement to be acquired by PSINet Inc. of Herndon, VA, the first and largest independent facilities based commercial Internet Service Provider (ISP). That transaction is valued at approximately $720 million.

“Jack McDonnell is a seasoned industry veteran who has built TNI into the leading worldwide provider of e-Commerce data communications, processing more than 20 million transactions per day from 2 million businesses. TNI handles over 70 percent of the dialed electronic Point of Sale transactions in the U.S. His level of experience adds considerable depth to the talent pool represented by our outside directors,” said Mr. DeFrancesco.

Mr. McDonnell commented, “On behalf of the Company, I would like to thank Peter Leger for his contributions to CMSI during his tenure as an officer and director. I have every confidence that the current management team will continue to successfully execute the Company’s business plans and strategies, especially those related to the Company’s e/i-Commerce initiatives.”

About CMSI

Since it was founded in 1987, CMSI’s credit automation and loan marketing technology services and software have been the choice of the world’s largest and most demanding lending institutions. Building on its leadership, the Company is rapidly becoming a premier provider of Internet-based online lending and leasing technology, including student loans, telecommunications, utility and small business applications. CMSI offers a portfolio of products through service bureau alliances that are sold on a per-transaction fee basis by its partners. The Company’s e-commerce products and services are built around its patented CreditConnection(R) technology, which links borrowers and credit originators such as automobile dealers to the industry’s most extensive national network of leading prime and non-prime lenders.


Internet ATM

Union Planters installed the first production model Internet ATM which will offer customers Internet access and financial management tools through its ATM network. The new technology was jointly developed by Diebold and FundsXpress. Union Planters’ customers will have access to Internet-based banking content and other financial service information previously available only through a PC located in a home or office. The first installation, at the Union Planters administrative center in Cordova, TN, allows users to continue to do all of the current ATM functions plus utilize the Internet to access additional account information from ‘UPOnline’, the bank’s secure Internet banking service. Diebold’s ‘OPTinet’ software technology enables the ATM to leverage the existing authorization network and connect to a financial institution’s Internet site for additional transaction or marketing information.


Driver’s Edge Connection and Citibank joined up Thursday for to be the exclusive online car-buying service for Citibank’s ‘Driver’s Edge’ credit cardholders. Beginning this month, Citibank ‘Driver’s Edge’ cardholders will be encouraged to use to research, select and finance their next car. is currently promoting the partnership with a free, enter-to-win sweepstakes. For a limited time, consumers will have the opportunity to visit and complete a Citibank ‘Driver’s Edge Platinum Select’ credit card application for the chance to win a $5,000 credit towards the purchase of any new or used vehicle on The sweepstakes ends this month. Citibank ‘Driver’s Edge’ cardholders will also be given one free used car listing each year, placing their ad in a database consulted by millions of car shoppers each month. Citibank’s ‘Driver’s Edge’ program allows members to earn up to $500 a year in rebates that can be redeemed at the lease or purchase of any car, new or used.


Equifax & Fair Isaac Renew Vows

Equifax and Fair, Isaac and Company, Inc. yesterday announced that they have extended their longstanding commitment to provide products and services to the financial services industry. Several new joint products as well as enhancements to existing products and services will be released in the next few months. These innovative solutions will provide credit grantors with tools to better manage the profitability of their consumer-lending portfolios.

William J. Calpin, senior vice president, Equifax North American Information Services, said, “This agreement opens up new opportunities to provide lenders with additional and enhanced credit management solutions from Equifax and Fair, Isaac. While our two companies compete in some markets, we continue to recognize the synergy that has come from working together to bring new analytical credit risk and marketing solutions to market. It is Equifax’s belief that by making a variety of credit management solutions available to our customers, we can best serve their interests in providing the solutions that best meet their needs. This extended relationship with Fair, Isaac helps Equifax fulfill that belief.”

Cheri St. John, Fair, Isaac senior vice president, North American Alliance Management, added, “Our respective companies are committed to offering innovative solutions to the financial services industry. This agreement aligns us to jointly pursue the introduction of effective solutions that will enable lenders to improve credit and marketing decisions for their prospective and existing customers.”

The companies have agreed to introduce the following products and services:

— Next generation credit risk score. The advanced next generation credit risk score is an alternative to Equifax’s and Fair, Isaac’s BEACON(R) score. This groundbreaking risk assessment score leverages the highly predictive power contained in Equifax’s rich consumer credit database. The next generation credit risk score predicts the likelihood of 90-day or worse delinquency in a consumer-lending situation and will therefore rank order the risk of serious delinquency, charge-off, repossession, foreclosure and bankruptcy.

— Revenue Evaluator score. Designed to be used in conjunction with credit risk scores, this bankcard scoring tool can help lenders identify prospects and customers that are most likely to generate and maintain profitable balances. The Revenue Evaluator score rank orders the amount of revenue likely to be generated from an account over the next twelve months. By pre-identifying customers likely to provide profitable returns, the issuer can implement acquisition and retention strategies that maximize and protect the account’s long term value.

— Bankcard attrition score. Used in combination with risk and revenue scores, this jointly offered score predicts the likelihood that an existing bankcard account’s balance will decline by 50 percent or more over twelve months. This scoring system allows bankcard issuers to retain valuable customers by identifying those who may stop using their card. The issuer may then design and implement proactive marketing strategies for retaining its most valuable clients.

— ScoreNet(R) Service is a Fair, Isaac account management credit bureau information delivery service. A variety of soon-to-be-available service enhancements will allow credit grantors to obtain a broader array of information from Equifax such as the revenue, attrition and next generation risk scoring tools and credit profile attributes. The expanded information available through ScoreNet Service will increase the ability for credit grantors to evaluate, understand and manage their consumer lending portfolios.

Fair, Isaac ([][1]) delivers critical decision-making solutions that help businesses improve their performance in acquiring, growing and serving their customers. The company works in the financial services, e-Business, telecommunications and healthcare markets providing transaction-level decision-making processes and solutions to help clients make quicker, more profitable decisions. Headquartered in San Rafael, Calif., Fair, Isaac employs some 1,600 people in 18 offices worldwide. For the fiscal year ended September 30, 1998, the company reported net income of $24.3 million ($1.68 per share, diluted) on revenues of $245.5 million.

Equifax ([][2]), a worldwide leader in shaping global commerce, brings buyers and sellers together through its information management, transaction processing and knowledge-based businesses. Atlanta-based Equifax serves the financial services, retail, credit card, telecommunications/utilities, transportation, information technology and healthcare industries and government. Equifax adds knowledge, expertise, convenience and security to provide value-added solutions and processes for its customers wherever they do business, including the Internet and other networks. Entering its second century in business, Equifax employs about 11,000 associates in 17 countries with sales in almost 50 and has more than $1.7 billion in revenue.



Extensity Signs AmEx

VISA-backed Extensity Inc. formed a new alliance with American Express Wednesday to integrate the AmEx ‘Corporate Purchasing Card’ into Extensity ‘Purchase Reqs’, Extensity’s solution for automating internal procurement request and approval processes. The agreement enables companies to create a seamless system to allows employees to directly purchase smaller-ticket items without the complicated paperwork of traditional procurement systems. Extensity ‘Purchase Reqs’ is part of the Extensity ‘E-Business Application Suite 4.0’, which includes Extensity ‘Expense Reports’, Extensity ‘Travel Plans’ and Extensity ‘TimeSheets’.