WL#6...and CAVN
CAVN
while looking at #6 earlier this month, CAVN surfaced, a b2b operation, recent ipo, with strong support at 6 involved with the internet backbone of credit unions. A highly speculative play IMO.
Monday December 6, 8:05 am Eastern Time
Company Press Release
SOURCE: cavion.com
cavion.com Introduces New Software for Wireless
Internet Banking Connectivity
Product Allows Credit Union Members to Use Cell Phones and Palm VII PDAs For Secure
Internet Banking
DENVER, Dec. 6 /PRNewswire/ -- cavion.com (Nasdaq: CAVN - news), a leading credit union business-to-business
communications and Internet services company, today announced it has developed software that enables credit union
consumers to use cellular telephones and Palm VII(TM) cellular personal data assistants (PDAs) to conduct secure Internet
banking transactions. The new software is an updated version of a secure Internet connectivity product for cellular phones
previously developed by cavion.com in 1998.
``Our cell phone and PDA Internet banking products let credit union customers conduct secure Internet banking transactions
from anywhere, at anytime,' said David J. Selina, cavion.com president and chief executive officer. ``We anticipate the demand
for secure wireless Internet connections will grow steadily in the coming years. With this new product, we have positioned our
credit union customers to be able to provide this service immediately. We believe this new software gives both cavion.com and
our credit union clients a strong competitive advantage.'
cavion.com's cell phone Internet banking product is currently available for telephones equipped with Web-enabled browsers.
The new cell phone Internet connectivity product is a modified version of cavion.com software currently in use at credit unions
to provide secure Internet account access to their members. The software uses new versions of hypertext markup language
(HTML) called handheld device markup language (HDML) and wireless markup language (WML). HTML is a common
Internet programming language. Both HDML and WML use standard Internet security protocols.
The Palm VII PDA product is written in HTML language specifically designed for the Palm PDA. The PDA version is available
from cavion.com for no cost on the Internet. PDA users simply download the software onto the PDA. Once installed on the
Palm VII, members of cavion.com client credit unions can access their accounts by striking an icon on the Palm VII's screen.
The PDA then logs onto the Internet banking system at the member's credit union.
cavion.com offered its first Internet cellular access product last year. At that time, the company released a banking product that
securely accessed the Internet using a Nokia 9000 digital wireless telephone equipped with an integrated PC with a Web
browser.
``At the time we recognized the high cost of the device would limit its acceptance as a widely used Internet access tool,' Selina
said. ``However, it provided us with a very valuable research and development opportunity that has led to this new product.
We anticipate it will have a much wider appeal because Web-enabled phones are now available at retail prices starting at about
$99.'
About cavion.com
cavion.com offers products and services for secure business-to-business communications, secure Internet financial products,
such as online banking, bill paying and loan decision products, and secure Internet access and services for its credit union
customers. The Company is also building and managing a secure private communications network called CUiNET© (Credit
Union interactive Network) exclusively for the credit union industry. CUiNET provides a secure communications platform for
the delivery of services and information to and from credit unions and related organizations, such as state leagues, corporate
credit unions and credit union vendors.
The company's headquarters are located at 7475 Dakin Street, Suite 607, Denver, Colo. 80221. Its telephone number is
303-657-8212. Its web page is www.cavion.com . |
