|
Newsletters
|
|
|
|
|
Wireless Developer Network - Daily News
Visit the WirelessDevNet Symbian DevZone
Today's News |
Yesterday's News |
Submit News |
News-"wireless" Top Stories! |
Around-The-Web
| Wireless DevZones!
SensCom Signs Contract to Provide Technology for Wireless Banking Services to Colorado State Employees Credit Union
URL(s): www.senscom.com
SAN DIEGO, May 17, 2001--As further evidence of its ascent to the top
of wireless technology providers for the financial services industry, SensCom, a San Diego-based
application service provider (ASP), today announced it has entered into an agreement with the
Colorado State Employees Credit Union (CSECU) to provide technology that will enable members to
perform financial transactions over the wireless Internet.
SensCom provides secure wireless application technology that acts as a gateway between a
financial institution's operating system and their customers' wireless devices, including personal digital
assistants (PDAs), over the wireless Internet.
CSECU members who subscribe to the wireless Internet banking service can check account
balances and history, obtain transaction summaries, transfer funds between accounts, pay bills and
make credit card payments, order stop payments, and transfer funds to other accounts. With CSECU
in the process of establishing a credit union service organization, or CUSO, some services, like
alternative investment products, insurance, and trust accounts offered by the CUSO, will eventually
become available to its wireless banking customers at a later date.
SensCom's application servers obtain the desired information from the financial institution and
convert it into a standardized wireless format. The transaction is then sent securely across the wired
Internet to the wireless carrier gateway, where it is translated into wireless communication and passed
along to the customer's wireless device for viewing.
The contract with the Colorado State Employees includes complete service and maintenance, and
any future upgrades, according to Ernie Arterburn, vice president of Information Technology for
CSECU, which serves approximately 70,000 members. Arterburn estimates that 11,000 of its
members are currently using "wired" home banking services and is confident that many of them will
make the switch to wireless. The new service will be available to members beginning in late June.
"We're always striving to keep up with technological advancements," Arterburn said, "so when we
saw this opportunity and realized that SensCom had its interface already in place for us, and have been
successful to the degree that they have been, we jumped on it. We looked into other channels, but
they couldn't offer the same technology as immediately as SensCom could and we frankly didn't want
to wait. Our decision was based on a combination of superior product, service and good timing," he
added. SensCom's technology crosses all wireless Internet platforms and covers every wireless
Internet device on the market today.
"The Colorado State Employees Credit Union recognized that SensCom's technology for wireless
banking services will significantly strengthen their position as a technological leader in the financial
services industry and provide a leading edge, value-added service to its membership," explained Tarek
Fouad, president and chief executive officer of SensCom. "We appreciate their confidence in our
ability to deliver a superior product and to become a respected partner in their quest for dominance in
the wireless retail delivery market."
Headquartered in San Diego, SensCom's significant expertise in digital wireless network
engineering, software development and financial services enables SensCom to bring the best of
wireless Internet solutions to the financial industry. For additional information, contact SensCom at
858/362-3600 or visit them online at www.senscom.com.
|
|
|
|
