STRATEGIC PARTNERS
April 25, 2000
COLUMBUS, Ohio -- Electronic banking veteran Del Tonguette has opened the Del Tonguette Consultancy, an electronic payments and e-commerce consulting firm. Tonguette has been consulting since the sale of his ATM network, GulfNet, to the Pulse EFT Association in 1997. Tonguette created his new consulting firm because of his belief that while market conditions and industry trends will dramatically change the formula for success in the financial services industry, most small and mid-sized companies are ill prepared for the new business environment. According to Tonguette, high-technology industries and the Internet are at the core of the new environment. However, he said, "The new formula for business success is not more technology and Internet Web sites. You don't fight fire with fire." Tonguette said that many businesses are mistakenly reacting to the new e-commerce paradigm by introducing new technologies and new Internet services. In fact, he believes that e-commerce will soon enter a period of declining interest, acceptance and growth rate because of three factors: misconception that e-commerce is solely the Internet; Internet reliability and security issues; and eventual integration of e-commerce into daily business activities. Tonguette is also introducing a program, designed for small to mid-sized ATM deployers, to raise the profitability of ATM programs. "I have taken the lessons learned as CEO of GulfNet and developed a program that will reduce operating costs, improve pricing and redirect the strategic direction of ATM programs," Tonguette said. "The end result will be a boost in incremental profit." He added, "Financial service companies must adopt aggressive business strategies to succeed in the intensely competitive and rapidly changing marketplace. I can provide small and mid-sized banks and financial institutions with unique and objective tactics and strategies that will help them level the playing field and compete much more effectively."
