BankServ Global Funds Exchange Software Now Available for Sun Microsystems' Solaris 8 Operating Environment.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--April 19, 2000 BankServ has announced that its Global Funds Exchange (GFX GFX Graphic Effect(s) GFX Global Effects GFX Government Furnished Equipment GFX Graphics Driver GFX Graphics Link File GFX Geforce Fx GFX Graphic Effects ) software package is now offered on Sun Microsystems' newly released Solaris(TM) 8 Operating Environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. . BankServ is one of the nations leading providers of secure electronic and Internet funds-transfer and payments services for online businesses, retailers and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies. The BankServ GFX system is a global funds transfer software system that automates many of the security activities associated with domestic and international wire transfers. The company processes more than $1 billion in wire transfers every day. BankServ had previously offered GFX in a Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. version only. Sun's Solaris 8 Operating Environment is one of the most widely used UNIX-based software platforms in the U.S. Close to 75 percent of the networked world already uses the Solaris Operating Environment, which is designed for situations that require the flexibility of the Internet and the reliability of the data center. Sun announced the release of the new Solaris 8 version earlier this year. "In the new Internet economy, everything turns on your ability to move money safely and securely," said Dave Kvederis, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BankServ. "Until we created GFX, if you wanted to move large amounts of money safely, you had to use a money-center bank to do it. GFX puts this technology directly in the hands of large and small companies and financial institutions alike." Kvederis headed the corporate and cash management divisions at Wells Fargo Bank before he founded BankServ in 1996. Kvederis said he believes the marketplace has already selected the Solaris Operating Environment as the platform of choice for updating industrial-grade computer operating systems. "Solaris allows almost unlimited growth in computing power," said Kvederis. "We call that 'scalability.' It was a natural choice for us to work with Sun to create a Solaris Operating Environment version of GFX." Kvederis helped pioneer the Automated Clearing House See ACH. (ACH) settlement system that makes possible everything from receiving paychecks via direct-deposit to buying products on the Internet securely. "Financial institutions and their customers around the world require a secure, robust and reliable development and deployment platform for solutions that perform critical business functions such as those offered by BankServ's GFX product," said John Hake hake: see cod. hake Any of several large marine fishes (genus Merluccius) usually considered part of the cod family. Hakes are elongated, large-headed fishes with large, sharp teeth, two dorsal fins (one notched), and a notched anal fin. , director of Worldwide Financial Services at Sun Microsystems. "The Solaris Operating Environment allows Sun to fulfill its commitment to provide financial institutions around the world with the technology environment necessary to help them excel in the Internet economy." According to Mike Dionne, general manager of funds transfer products for BankServ, GFX software incorporates sophisticated security features to reduce risk and guarantee regulatory compliance in the completion of both domestic and international wire transfers. Such electronic funds transfers See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. are regulated heavily by the Office of Foreign Assets Control The Office of Foreign Assets Control (OFAC) is an agency of the United States Department of the Treasury under the auspices of the Under Secretary of the Treasury for Terrorism and Financial Intelligence. OFAC administers and enforces economic and trade sanctions based on U. (OFAC OFAC Office of Foreign Assets Control (US Treasury) OFAC Ontario Farm Animal Council (Canada) OFAC Olmsted Falls Airport Committee OFAC Organic Fertilizer Association of California ), the U.S. Bank Secrecy Act The Bank Secrecy Act of 1970 (or BSA, or otherwise known as the Currency and Foreign Transactions Reporting Act) requires U.S.A. financial institutions to assist U.S. government agencies to detect and prevent money laundering. and Federal Reserve System regulations. "GFX allows financial institutions and online businesses to execute domestic and cross border funds transfers in complete security," said Dionne. "And with the Solaris Operating Environment, there's no limit on the number of transactions you can put through any system safely and in compliance with current government regulations." "More importantly," said Dionne, "the open architecture design of GFX enables most companies to seamlessly integrate the package into their existing hardware and software. Adding the Solaris Operating Environment as an option makes GFX a natural choice for nearly everyone interested in securely moving their money in today's Internet-driven economy." ABOUT BANKSERV San Francisco-based BankServ offers a variety of electronic check, domestic and international wire transfer, credit card processing and business-to-business bill invoicing services. BankServ is the nation's largest independent provider of services to merchants who wish to convert checks into electronic funds transfers. The company's new Internet payments division offers payment applications for both business-to-business exchanges and business-to-consumer settlements, as well as funding and reporting services for businesses on the Internet. BankServ maintains offices in Atlanta, Chicago, Dallas, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Las Vegas and Lafayette, La. More information about BankServ can be found online at http://www.bankserv.com. Sun, Sun Microsystems, the Sun logo, and Solaris are trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries. |
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