ATM Powerbuilder patent to be sold to bank

 
March 4, 2002
SAN DIEGO -- Robin Gustin, CEO and president of Capital Security Systems (CSS), announced that "it is 100 percent certain" that CSS will sell the patent on its ATM Powerbuilder development platform to a large banking services provider rather than license the Powerbuilder software development kit to resellers, developers and systems integrators.

"Because the ATM Powerbuilder addresses three banking segments, a large software provider can more effectively channel it to niche market providers," she explained, "but we've also concluded that the Powerbuilder's diverse applications would be most effectively distributed by a global company that offers direct services in the markets served by financial institutions, banking networks, health care, e-commerce and utility companies."

The ATM Powerbuilder is a development platform that will ultimately allow automated banking customers the means to access 17 different fee-based functions from an ATM terminal. "Several things make our platform unique," Gustin said, "including check cashing technology that is 100 percent automated, a check fraud detection system and the way our system directs change to the smart card, which is also the customer ID card."

Gustin said that final patent approval for the ATM Powerbuilder is imminent."At this point, well over half of our claims have been approved."

Gustin said the ATM Powerbuilder creates an electronic portal for the consumer that will translate paper-based data into e-commerce and smart card transactions. She believes the ATM Powerbuilder will enable banking networks to access conventional ATM banking and EBT or "unbanked" customers, as well as "fringe banked" customers, who comprise one out of every eight homes according to a recent government study.

CSS is talking to a several large domestic and foreign companies interested in procuring the patent on the ATM Powerbuilder.



Topics: Bank / Credit Union , Software


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