724 Solutions Teams With ITD to Expand Into Eastern Europe and Central Asia.Business Editors & High-Tech Writers TORONTO & AUSTIN, Texas--(BUSINESS WIRE)--Oct. 31, 2001 724 Solutions Inc. (Nasdaq:SVNX)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :SVN SVN Subversion (version control system) SVN Slovenia (international traffic code) SVN Social Venture Network SVN South Vietnam SVN Secure Virtual Network SVN Supervised Visitation Network ) has announced a reseller agreement with Iletisim Teknoloji Danismanlik (ITD ITD Idaho Transportation Department ITD Information Technology Division (at NRL) ITD Information Technology Division (MMDS) itd I Tak Dalej (Polish: And So On) ) -- a leader in speech recognition solutions and one of the largest solutions providers in Turkey -- to enable ITD to resell 724 Solutions' 724 FrameWorks(tm) (formerly known as the Wireless Internet Platform) in Turkey, Poland, Romania and Central Asia. Under the terms of the agreement, Elektronik Sanal Ticaret (EST EST electroshock therapy. EST abbr. electroshock therapy ), a subsidiary of ITD that focuses on the provision of wired and wireless e-commerce solutions, can now offer its wide range of customers mobile banking services enabled by 724 Solutions' technology. The 724 FrameWorks, together with ITD's expertise in speech recognition solutions, will allow users to access account balances, move money between accounts and pay bills from voice-enabled mobile devices, simply by inputting their account information and passwords in the most natural way -- using speech. "This relationship underscores our strategy to develop commanding distribution partnerships with specialized partners in key markets worldwide. We will blend ITD's extensive local market knowledge and experience with 724 Solution's award-winning mobile transaction technologies and solutions," remarked John Sims John Sims (1749–1831) was a taxonomist who classified various species of plants. He was the first editor of The Botanical Magazine after the founder, William Curtis.[1] References 1. ^ John Sims, 1749–1831. Darwin Project. , Chief Executive Officer, 724 Solutions. "Reseller partners represent a critical component to our success in our goal to establish 724 Solutions as a global leader in the wireless industry and ITD fits the bill perfectly." Beginning with the implementation of Turkey's first interactive voice response system and continuing with more recent ventures into smart card technology, ITD (http://www.itd.com.tr/english/index.asp) has positioned itself as a regional leader providing technology solutions to the financial service sector and other business. "We selected 724 Solutions as our mobile banking solution provider because of its global reputation and the open structure of the 724 FrameWorks platform. Most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , and perhaps the deciding factor in our choice, was the synergy between our speech recognition technology and 724 Solutions' market-leading solutions," commented Coskun Ural, President and Chairman, ITD and EST. The 724 FrameWorks consists of adaptors, gateways, core engine services and an application framework for powering highly scalable, secure mobile transactions on different devices, networks and protocols. The award-winning platform has successfully completed performance testing Performance Testing covers a broad range of engineering or functional evaluations where a material, product, or system is not specified by detailed material or component specifications: Rather, emphasis is on the final measurable performance characteristics. confirming its capacity to support 10 million customers and handle the demands of 100,000 concurrent users executing 10,000 transactions per second In a very generic sense, the term Transactions Per Second refers to the number of atomic actions performed by certain entity per second. In a more restrictied view, the term is usually used by DBMS vendor and user community to refer to the number of database transactions performed . About 724 Solutions Inc. 724 Solutions Inc. (Nasdaq:SVNX)(TSE:SVN) is a leading provider of mobile Internet infrastructure software and applications. It makes m-business happen globally by powering the delivery of secure mobile transactions for financial institutions and mobile operators. With dual headquarters in Toronto, Canada, and Austin, Texas, the company has development and sales offices around the world. For more information visit www.724.com. About ITD Founded in Istanbul in 1991, ITD (Iletisim Teknoloji Danismanlik Ticaret A.S.) provides services on payment systems, voice systems and e-business solutions. Particularly addressing finance, telecommunications and retail industries, ITD offers solutions on call automation, interactive voice response systems, call management, speech recognition and customer service automation. The company provides various services in transaction automation systems ranging from POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale terminals, to end-to-end payment solutions, smart card payment terminals, Internet payment systems and card management systems. E-business solutions rendered by ITD help banks, securities houses, finance portals and other financial institutions to provide fast Internet services. These solutions allow customers to execute financial transactions, to obtain personal and market information on financial status, to pay invoices and to have access to financial services through Internet integrated tools. For more information visit www.itd.com.tr About EST: A sister company of ITD, EST was founded in 1999, and specializes in Internet based solutions and products. The company provides a shared e-commerce infrastructure, preferred by leading financial institutions of Turkey. Security Management Systems and Web-based application development are its other main presence areas. VeriFone and Baltimore Technologies are the main business partners of EST in Virtual Payment Systems and Internet Security Solutions. For more information visit http://www.est.com.tr This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements include the statements herein regarding: the services and products that will be offered by 724 Solutions to ITD, the benefits that ITD will obtain from these services and products and future demand for these services and products. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including the risk that 724 Solutions will be unable to deploy the solutions and products stated herein, the risk that the demand for the solutions and products will not increase as presently anticipated and other risks described in 724 Solutions' SEC filings, including its annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . These risks are also described in 724 Solutions' filings with the Canadian Securities Administrators Canadian Securities Administrators(CSA) is a forum for the 13 securities regulators of Canada's provinces and territories to coordinate and harmonize regulation of the Canadian capital markets. , including its prospectuses, material change reports, Annual Information Form and Management Information Circular Information Circular A document sent to shareholders outlining important matters to be discussed at the annual shareholders' meeting. Notes: Sent along with a proxy, the information circular may cover matters such as the election of the Board of Directors, possible . 724 Solutions does not undertake any obligation to update this forward-looking information, except as required under applicable law. Note to Editors: In the company name "Iletisim Teknoloji Danismanlik" the "I" in "Iletisim" is a capital dotted "I" and the "i" in "Danismanlik" should be a lower case dotted "i". The "s" in "Iletisim" and in "Danismanlik" should be a cedilla ce·dil·la n. A mark ( ¸ ) placed beneath the letter c, as in the spelling of the French word garçon, to indicate that the letter is to be pronounced (s). . These characters were changed for transmission purposes only. |
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