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Faster, Cheaper ATM Transactions at More Locations--Innobeta Systems Selects Ventus Networks for Secure Wireless Services

Posted on: Tuesday, 28 February 2006, 12:00 CST

Innobeta Systems, Inc., a significant processor for ATM transactions, has signed an agreement with Ventus Networks to provide secure wireless technology for ATM processing, as well as monitoring and maintenance-management services.

The move will let Innobeta customers deploy ATMs in remote locations where running traditional telephone lines might be cost-prohibitive, said Innobeta CEO Eric Park. It will also provide processing connections that are faster and cheaper than land-based telephone lines.

"Wireless transactions are about 30 percent cheaper than and three times as fast as dial-up telephone transactions," said Park.

Under terms of the agreement, announced by both companies, Ventus will supply wireless service, VFN routers, software and network management services to enable ATMs processed by Innobeta, to use wireless or other cost effective connections rather than slower, less secure telephone lines.

The Ventus Operations Center benefits from direct connections to all major cellular providers, according to Keith Charette, president and CEO of Ventus Networks. This eliminates roaming charges and allows customers to pay a low, flat monthly fee.

"This fully managed service allows us to serve the needs of each of our customers who are challenged to provide connectivity to all their remote locations in a timely and cost-effective fashion," said Charette. "We are delighted to have the opportunity to design and deliver network solutions that can be dynamically provisioned to achieve the high service levels required by our customers' businesses."

Ventus Networks high-speed wireless transaction delivery service operates in conjunction with TCP/IP and Legacy protocols, enabling any ATM/POS or Kiosk device to communicate through a single network scheme. Ventus Networks uses its proprietary line of wireless routers and network management platforms in conjunction with "SecureNet" software enabling operation in all CDMA or GSM environments. Ventus' managed wireless service operates as part of a virtual private network protected by firewalls, IP sec tunneling and encryption technology, providing enhanced security over the wireless carrier AAA security features. Monitored at Ventus' Operations Center, the network allows for seamless transaction delivery services between devices and Innobeta's Host Processor.

About Innobeta Systems

Innobeta Systems, Inc. provides transaction processing and ATM terminal driving services for financial institutions and independent sales organizations. Innobeta provides connectivity for ATMs to most national and regional financial networks via direct connects or gateways. Innobeta utilizes secure Web-based communications to allow for real-time monitoring of transaction traffic. This provides the ability to manage data in real time, increasing security and providing a better toolset for managing data. The Innobeta platform is an open architecture that allows continuous availability, hardware independence and transaction security.

Innobeta is a member of The NexTran Group, LLC, a diversified portfolio of financial services companies.

About Ventus Networks

Ventus Networks is a fully managed full-service global telecommunications company that offers secured fixed line and wireless data networks designed for the transportation of sensitive financial oriented data and capable of operating in a wide variety of accepted communication protocols. For more information regarding Ventus Networks wireless and fixed line financial transaction delivery services please call (800)736-8720.

Source: Business Wire

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