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Threshold Financial Technologies Inc. Wins ABM Network Management Contract for One of Canada’s Largest Credit Unions September 15, 2003 – Mississauga, Ontario -- Threshold Financial Technologies Inc. (Threshold) has secured a six-year Automated Banking Machine (ABM) Services contract with Ottawa-based Civil Service Co-operative Credit Society Limited (CS CO-OP). As of September 1, 2003, Threshold has assumed the complete management of the CS CO-OP 75-machine network and over the next six months will upgrade it with NCR Corporation’s latest suite of ABM hardware and software solutions. Threshold will provide comprehensive management services, including first and second line maintenance, armoured carrier and treasury management, and incident management services. CS CO-OP will have a state-of-the-art, fully industry-compliant ABM network and, by having Threshold operate the network, will benefit from substantial cost savings. “This is a very exciting initiative for Threshold; the only financial institutions that have embarked on similar initiatives are the major banks and on a very limited scale. This commitment by CS CO-OP reinforces Threshold’s ability to deliver best-in-class solutions which are highly cost-effective. Working with a forward-thinking organization such as CS CO-OP has allowed us to explore a myriad of possibilities and come up with a solution that is beneficial for all parties”, states Matthew McIver, president of Threshold. NCR, the global leader in financial self-service, will provide Threshold with a range of NCR Personas ABM terminals, and NCR APTRA software. This comprehensive solution is Triple Data Encryption Standards (DES)-compliant, giving CS CO-OP a more secure ABM network. According to Nicholas Hames, vice president of NCR’s Financial Solutions Division, “NCR is delighted to partner with Threshold to enhance the CS CO-OP ABM network. Threshold has a proven track record in technical excellence and commitment to quality. By working together, we can deliver a full suite of hardware, software and services that will enable CS CO-OP members to take greater advantage of the benefits and convenience of self-service banking.” Since April 2002, Threshold has been providing financial transaction switching and ABM services to CS CO-OP. This includes providing shared cash and POS switching services for CS CO-OP members, as well as driving and managing the institution’s 107-ABM network. Last October, 32 of those ABMs were converted to Laser Cash machines, Threshold’s branded private label network, while still providing free access to CS CO-OP cardholders. “This new partnership with Threshold is a natural evolution,” says Tom Gregoriades, senior vice president, Service Delivery and Operations at CS CO-OP. “In the past year and a half, Threshold has proven to be an outstanding business partner, and the commitment and professionalism of their team has led us to expand and further develop our relationship. It was a very sound business decision to contract Threshold to operate the network.” |
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