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innoVisions buys 500 Diebold advanced ATMs

February 21, 2002

San Francisco-based innoVisions, which is jointly owned by Wells Fargo & Co. and Cash America International, has purchased 500 advanced- function ATMs from Diebold.

The advanced function machines contain check cashing and biometric identification features. As part of its specialty, innoVisions will target the ATMs to people who may not have a bank account. It plans to install the ATMs at convenience and grocery stores in the Houston, Phoenix and Dallas-Fort Worth areas next month.

"innoVisions' revolutionary cash-management systems are designed particularly for the millions of Americans who either do not have a bank account or do not rely on traditional banks for their cash needs," said Frank A. Petro Jr., chairman and chief executive officer of innoVisions.

To enable the ATMs to perform these features, Diebold provided machines that contain an open platform that can be easily integrated into existing systems. The ATMs incorporate a document processing module that gives innoVisions the ability to connect to backend servers to enhance their current system, said Thomas W. Swidarski, senior director of worldwide marketing for Diebold.

innoVisions designs, builds, and operates interactive systems for personal financial transactions. It formed in May 1998 as a joint venture between Wells Fargo Bank and Mr. Payroll Corporation, a wholly owned subsidiary of Cash America International. Mr. Payroll was merged into innoVisions in March 1999.

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