RT a good use for HSS--Wizzard Adds Another Major Financial Institution to the List of ``Talking ATM''Providers
PITTSBURGH--(BUSINESS WIRE)--May 7, 2003--Wizzard Software
(OTCBB:WIZD) today announced the signing of another large
international financial institution who will incorporate
Text-To-Speech products, purchased. from and supported by Wizzard
Software, for their 4,000+ ATM's. In a joint sales effort between IBM
and Wizzard, the $274B asset Canadian based bank plans to roll out the
integration of the new technology over the next year allowing for more
robust access to their ATM's.
"This is the 5th major financial institution to choose Wizzard's
products and services for their entry into the speech interface
market," says Alan Costilo, General Manager of Wizzard's Tools &
Engines Division. "We have just begun to tap into the ATM market with
less than 35,000 of the worldwide 1.2M ATM's offering "talking ATM
services".
Based on a report by Retail Banking Research Ltd., the worldwide
market for operating ATM's will grow from 1.14M to 1.5M in 2007.
Currently, North America leads with the number of operating ATM's at
381,000 followed by Asia Pacific with 329,000, Western Europe with
268,000 and Latin America with 118,000.
"With Text-To-Speech technology, ATM operators can offer their
disabled users a more convenient way to access their money and bank
accounts," says Chris Spencer, President of Wizzard Software.
"Additionally, as the core technology is rolled out, they can expand
their use of the Text-To-Speech beyond "accessibility" and present ATM
users with verbal product offerings." Mr. Spencer continues, "I know
when I am using an ATM and waiting for my cash to be dispensed the ATM
has my complete and undivided attention. I am a captured audience. If
a bank verbally "pitched me" a no-fee checking account or a low
interest loan, I'm going to listen. If a convenience store ATM
operator programs a special in the morning offering me a free doughnut
with the purchase of a cup of coffee, and then the ATM hands me cash,
I'm a buyer. I can't think of another advertising medium which has the
ability to capture the customer's complete attention while at the same
time handing them cash for the potential purchase."
With the recent addition of AT&T's Natural Voices concatenated
Text-To-Speech to Wizzard's product offering of IBM's synthetic
Text-To-Speech, management feels Wizzard is strongly positioned to not
only be the dominant TTS core technology provider to the ATM market,
but also strongly compete for support and service opportunities.
Wizzard is in discussions with several major ATM operators to purchase
TTS Management Software from Wizzard allowing for immediate updates to
what the ATM says, what the ATM offers to customers, and the
'personality' of the ATM. "As the core TTS technology base is expanded
in ATM's worldwide, the up-sell potential for Wizzard is exciting",
says Gordon Berry, Wizzard's Chief Financial Officer.
The U.S. Congress recently amended the Rehabilitation Act (508) to
require federal agencies to make their electronic and information
technology accessible to people with disabilities. Inaccessible
technology interferes with an individual's ability to obtain and use
information quickly and easily. Section 508 was enacted to eliminate
barriers in information technology, to make available new
opportunities for people with disabilities, and to encourage
development of technologies that will help achieve these goals.
About Wizzard Software
Founded in 1996, Wizzard Software has become a leader in the
speech technology application development market. Wizzard's
relationship with software and communications companies such as
Microsoft(R) (MSFT), AT&T(R) (T) and IBM(R) (IBM) provide
opportunities to develop new markets for speech enabled computing.
Wizzard architects solutions to business problems using its expertise
in consulting, development tools and building applications for the
Desktop and Internet. Wizzard has achieved global recognition because
of its expertise with voice communication whether it is via PC or
telephone. Wizzard's successes have lead to expanding opportunities in
both the government and commercial sectors. More information can be
found in Wizzard's Investor's Corner at www.wizzardsoftware.com.
CONTACT: MPH PR
Mike Hiles, 310/234-3200 (Media Relations)
mhiles@mphpr.com
or
Arthur Douglas and Associates
Art Batson, 407/478-1120 (Investor Relations) |
