SANTA CLARA, Calif. - Financial services software provider Infonox, saying it can alleviate congestion problems at back-end transaction networks, has released a new software package, the Active Payment Platform, to banks and other financial institutions.
Infonox officials said the platform will combine more than 10 financial services, including money transfers, bill paying, and check cashing. The software is adaptable to ATMs, financial services kiosks, and point-of-sale machines.
Infonox president Safwan Shah said the company tested the platform for two years in casinos, and were pleased with the software's durability in a 24-hour, seven-day working environment. Shah said he expects to see fleets of underutilized ATMs converted into "high profit margin, self-service banks."
