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Leading ASP in Wireless Solutions for Financial Industry Launches 2nd Generation Technology Solution
SAN DIEGO, March 22, 2001--SensCom, a leading wireless application service provider (WASP) for the financial industry, today announced the launch of its new multi-vertical platform (MVP V1.0) technology.
MVP will enable financial institutions, and ultimately many other service-based industries, to offer a multitude of secure wireless Internet services and mobile-commerce applications to clients on any wireless Internet-capable device.
According to Robin Richmond, SensCom's EVP of marketing, the MVP is an n-tier architecture that enables the company to expand its service offering across multiple vertical markets such as transportation and health service in addition to its financial services niche. The company recently filed four technology patents to protect its revolutionary platform design innovations.
"Like any business, we're constantly analyzing our product line and looking for ways that we can improve it," said Tarek Fouad, SensCom's president and CEO. "This new generation of technology represents the cornerstone of our m-commerce strategy and allows for improved custom solutions that ultimately reflect the needs and desires of the consumer. Users demand a highly intuitive and compelling interface and MVP provides that."
San Diego-based SensCom, which develops, hosts, manages and maintains mobile Internet Hand Held banking services, acts as a gateway between a financial institution's operating systems and their customers' wireless Internet capable devices. Industry studies show that close to 90% of all banks and credit unions in the U.S. will offer online banking services by 2003, with an expected 73 million wireless Internet subscribers.
"SensCom's design with the multi-vertical platform technology is where we see the market going." said Legg Mason VP & Interactive Software Equity Analyst, Paul Krieg. "This approach enables different companies and different applications to all to participate in the emerging demand for mobile commerce. As companies prepare to offer wireless data services, SensCom is ready with the product design that provides flexibility and maintainability, two key issues in today's world. Consumers are knocking at the door of mobile commerce, and SensCom is helping to swing the door open."
Using SensCom's financial application servers and Internet-compatible wireless phones and personal digital assistants, customers can already check account balances, transfer funds, pay bills, trade stocks, manage portfolios, and review credit card payments. The new platform technology will add advanced voice recognition and messaging features, as well as m-wallet capabilities. The most notable feature in this second generation technology solution lies in MVP's modified architecture. SensCom is utilizing an n-tier architecture, which expands its layering capabilities beyond the standard three and allows layers to be modified or maintained independently, giving the platform greater flexibility, according to David Maung, SensCom's IT Director.
Additionally, the MVP technology employs object oriented design methodology, which looks conceptually at components and how they operate, Maung explained. It also uses XSLT format, or extensible style sheet language translation, which has been recommended by a world wide Web consortium of more than 500 companies to promote global standardization for wireless technology across the Internet. The platform's extensive use of XML, or extensible markup language, facilitates the transfer of data in a common format that will ensure compatibility between the institution and the end user.
The company plans to migrate its clients to the MVP Technology platform shortly. SensCom's adaptable platform ensures end-to-end security between the financial institution and the end user, offering the speed and convenience of real-time transactions on wireless devices. All interactions with the financial institution and the end user are protected using the highest forms of encryption technology.
Headquartered in San Diego, SensCom is the leading wireless ASP specializing in financial services applications. SensCom enables financial institutions of all sizes to offer wireless access to customers through comprehensive solutions that include the planning, implementation and marketing of gateway services, enabling secure wireless Internet banking transactions.
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