STRATEGIC PARTNERS
December 9, 2001
TORONTO -- WebEngine (YWE: CDNX) says it will make a presentation to the Governor of the National Bank of Yugoslavia and the Board of Directors of P&P Banka, Belgrade for a complete re-development of the bank's existing technical infrastructure and 16 of its branches throughout Yugoslavia.
According to a WebEngine news release, WebEngine is the only company invited to present a proposal to the bank. The proposal is valued at U.S. $5 million.
"Pending acceptance of the proposal, this will mark the first step in WebEngine's strategy to market its products and services to the Eastern European financial services sector," said John M. Lopes, WebEngine's president and chief executive officer.
The current proposal involves creating a new Virtual Private Network and Local Access Network for switching secure transactions for more than 500 ATMs, developing Internet banking capabilities and replacing 300 work stations with new hardware and software, as well as supplying tools and applications for treasury monitoring and securities trading.
"These infrastructure upgrades are necessary for both the bank and its merchants to provide value-added services to consumers and to facilitate the evolution of both merchant banking and retail consumer deposits," said Peter Lukesch, director of P&P Bank and WebEngine.
