SOUTH HACKENSACK, N.J. -- Innobeta Systems, Inc., says that it recently processed its five millionth ATM transaction, just nine months after going live on June 12, 2002.
Eric Park, Innobeta's chief financial officer, said in a news release that the achievement was "the first significant milestone in the development of the company."
Park said his company's success was based on three factors: a high level of transaction approvals; a system with little downtime; and a Web-based reporting system that offers real-time data management and simplified training.
Park said Innobeta serves both financial institutions and ISOs.
The company's long-term strategy, he said, is to leverage Innobeta's existing open platform to process added value transactions such as check cashing, wire transfers and pre-paid media, such as phone cards or movie tickets.
