PRESS RELEASE:
biz.yahoo.com
Friday June 11, 9:43 am Eastern Time
Company Press Release
Viking Completes Testing, Readies
Marketing for Internet-based
Banking System
DALLAS--(BUSINESS WIRE)--June 11, 1999--Viking Systems, Inc. (VSI), a wholly
owned subsidiary of Viking Capital Group, Inc. (VGCP-OTC) has completed testing on its
Internet-based remote banking system. The Company expects to begin marketing activities on
the new system - called IP Banker, which operates as a banking service bureau - next month.
With IP Banker, Viking aims to take advantage of the growing interest among consumers and
financial institutions in online banking. Viking clients can offer their customers account access
and maintenance through the Service Bureau in addition to purchasing financial services via the
Internet.
The primary benefit of IP Banker is that banks may contract with Viking for the development,
systems integration and operation of their Web banking presence, without the need to develop
systems in-house.
Viking will handle all systems development, integration, operations, maintenance, security,
hardware/software upgrades, and compliance upgrades for member banks. IP Banker will be
based in the company's operations center in New York City. All telecommunications
connections and two, identical backup locations are managed exclusively by iXnet for the
Viking Capital Financial Network.
Viking has set plans to secure 150 banks as clients in the next 12 months, and the Company
expects to add another 150 banks as clients six months beyond that. Member banks pay an
up-front systems integration fee, plus a monthly per-depositor fee to cover ongoing
maintenance. Viking plans other service offerings for member banks including modules to
enable online remote bill paying, trading, employee benefits administration and the sale and
administration of insurance products.
Systems developed with IP Banker are Y2K compliant and is designed to meet or exceed
OCC security requirements. IP Banker also fully supports ACH correspondent banking
requirements.
About Viking Systems, Inc.
Viking Systems, Inc., is a wholly owned subsidiary of Viking Capital Group, Inc.
(VGCP-OTC), headquartered in Dallas. Web servers for the company's IP Banker service
bureau and Viking Capital Financial Network are located near Wall Street in New York City.
Viking Systems is developing a series of proprietary software and hardware systems to help
financial institutions connect with their customers via the Internet. Viking Systems has formed
strategic alliances with Transaction Information Systems, Inc., iXnet, Inc., and Pearse EFT, Inc.
to provide middleware development, secure telecommunications, and systems integration
services, respectively. Learn more about Viking by visiting our World Wide Web site:
www.vcgi.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
Certain statements made by the Company which are not historical facts may be considered
forward-looking statements, including, without limitations, statements as to trends,
management's beliefs, expectations and opinions, which are based on a number of assumptions
concerning future conditions that may ultimately prove to be inaccurate. Such forward-looking
statements are subject to risks and uncertainties and may be affected by various factors which
may cause actual results to differ materially from those in the forward-looking statements.
Among the factors that could cause actual results, performance or achievement to differ
materially from those described or implied in the forward-looking statements are general
economic conditions, competition, potential technology changes, changes in or the lack of
anticipated changes in the regulatory environment in various countries, the ability to secure
partnership or joint-venture relationships with other entities, the ability to raise additional capital
to finance expansion, and the risks inherent in new product and service introductions and the
entry into new geographic markets.
For further information which could cause actual results to differ from the Company's
expectations, as well as other factors which could affect the Company's financial statements,
please refer to the Company's report filed with the Securities and Exchange Commission.
NOTICE: Individuals who wish to receive news on VGCP via e-mail please send their name
and e-mail address with the words ''add to VGCP list'' to lstelte@ackermannpr.com.
Documents will be sent as inline text.
Contact:
Ackermann Public Relations
Media Contact: Robert Cathey, 423/584-0550
or
Viking Capital Group, Inc.
Investor Contact: Matthew W. Fossen, 972/386-9996
Regards,
TOPSTOCK
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