SBC's Sterling Commerce Forms Alliance with Global Technology Australasia Ltd. To Resell Currency Management Solution in Australia, New Zealand and South Africa.Business Editors ADDISON, Texas--(BUSINESS WIRE)--May 2, 2001 SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. Communications Inc. (NYSE NYSE See: New York Stock Exchange :SBC), through its Sterling Commerce Banking Systems Division subsidiary, today announced the signing of a reseller agreement with Global Technology Australasia Ltd. that gives Global Technology Australasia rights to market the Sterling Commerce VECTOR:Cash currency management solution in Australia, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . VECTOR:Cash helps bank management to ensure that all facilities always have enough currency on hand while avoiding the wastefulness and financial repercussions repercussions npl → répercussions fpl repercussions npl → Auswirkungen pl of having excess cash. It is a Windows-based system that uses a proven methodology for analyzing and recommending cash needs for all locations -- such as branches, lobbies, ATMs and money exchange machines. In addition, VECTOR:Cash identifies where surplus cash is located so that it can be utilized as an income-producing asset. With VECTOR:Cash, potential interest income is never forfeited, while adequate cash is always available in the needed denominations for every bank location. "We are delighted to be partnering with Global Technology Australasia Ltd.," said William W. Hymes, President of Sterling Commerce's Banking Systems Division. "Global Technology Australasia is a premier provider of technology solutions in the Asia-Pacific region, and VECTOR:Cash is a perfect fit to complement their world-class banking software solutions." "Management of any financial institution's vault, teller, and ATM cash has traditionally been a difficult challenge. With the Sterling Commerce VECTOR:Cash solution, we are providing an answer to that challenge. We are very proud to be partnering with the Sterling Commerce Banking Systems Division because they are the industry leader in Currency Management solutions," said Robert Edge, Managing Director of Global Technology Australasia Ltd. Sterling Commerce Inc. (www.sterlingcommerce.com), is a worldwide leading provider of e-business solutions for businesses of all sizes and their commerce communities. The company provides a comprehensive suite of software and services designed to support the interaction of customers, suppliers, business partners and employees through its e-marketplace, e-business integration and e-business service solutions. The company's Banking Systems Division is the leading provider of critical transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. solutions for major banks and other financial institutions. The division provides financial transaction processing, currency control, reconciliation, e-marketplace, e-business integration and e-business consulting solutions for 85 of the top 100 U.S. banks and other major banks around the world. Sterling Commerce Inc. is a subsidiary of SBC Communications Inc. (www.sbc.com), a global communications leader. Through its subsidiaries' trusted brands -- Southwestern Bell
Southwestern Bell Telephone, L.P. , Ameritech, Pacific Bell, SBC Telecom SBC Telecom, Inc. (d/b/a AT&T Small Business) is a CLEC owned by AT&T that offers local telephone service outside the AT&T Bell Operating Company regions. It was formed in 1999 following provisions that required SBC Communications to offer telephone service outside its boundaries , Nevada Bell Bell Telephone Company of Nevada was the Bell System's telephone provider in Nevada. It only provides telephone services to 30% of the state, not including Las Vegas, where service is provided by Embarq, formerly Sprint. , SNET n. 1. The fat of a deer. v. t. 1. The clear of mucus; to blow. and Sterling Commerce - and world-class network, SBC and its affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. provide a full range of voice, data, networking and e-business services, including local and long-distance voice, high-speed Internet See broadband. access and data transport, voice and data network integration, software and process integration, Web site and application hosting, e-marketplace development, paging and messaging, as well as cable and satellite television, and directory advertising and publishing. In the United States, the company currently has 61.3 million access lines and is undertaking a national expansion program that will bring SBC service to the nation's top 50 markets. SBC has a 60 percent equity interest in Cingular Wireless, its joint venture with BellSouth, which serves more than 20 million wireless customers. Internationally, SBC has telecommunications investments in 17 countries and has annual revenues that rank it among the largest Fortune 500 companies. About Global Technology Australasia Limited Global Technology Australasia Limited, is the successor to Solace Limited, Australia's leading supplier of IT solutions to the banking and finance industries. Global Technology Australasia Limited is a supplier of world-class, powerful core banking and financial software solutions and services, including GLOBUS, CAEMS CAEMS Computer-Aided Embarkation Management System CAEMS Coalition of Advanced Emergency Medical Systems , Janna and Metify. As part of an innovative and fast-moving international group, Global Technology Australasia Limited is ideally poised to become a dominant supplier of technology solutions for the banking and financial services industry in the Asia Pacific region. The parent company, Global Technology Limited, provides a wide range of information technology solutions to banking institutions, insurance companies and the financial divisions of commercial and industrial companies through offices in Johannesburg, Cape Town, Durban, Harare, and Windhoek, serving clients over sub-Saharan Africa. Clients include 60 banking institutions, 30 insurance companies and intermediaries and the financial divisions of over 500 commercial and industrial concerns. Visit www.glotec.com.au for more information about Global Technology Australasia Limited and its products and services. All products or company names mentioned are used for identification purposes only and may be trademarks of their respective owners. |
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