DIGG
NEW YORK, June 29 /PRNewswire/ -- Digital Gas, Inc. (OTC Bulletin Board: DIGG - news) of Dallas, Texas today
announced that its subsidiary, Kommerce Systems Inc. of Boston, MA (''Kommerce''), has been named the exclusive supplier
of Interactive Bank Information Kiosks to Tri.Mill Inc. of New York, New York. Tri.Mill is scheduled to launch a worldwide
''TimeCapsule'' program in the third quarter of 1999, timed to catch the pre- Year 2000 Millennium fever at its high point.
Tri.Mill's TimeCapsule program will feature a state-of-the-art genealogical reference site on the Web, which will allow visitors
to the site to easily construct their own family history, as well as provide for additions, as new generations appear. Kommerce
will also handle a11 of the Web site software development on this program.
By Y2000, banks will be strongly embracing Internet and other information technologies. These will greatly enhance customer
service both in home and at the bank. In the process, banks will be delivering a whole new stream of value-added products,
and reducing their customer transaction costs by as much as 75%. With an active R&D program geared toward satisfying
consumer, as well as bank needs, Kommerce plans to be at the forefront of the new ''in-bank Kiosks'' business. Kommerce is
a highly regarded Boston-based high-tech firm that has developed and owns advanced multimedia interactive kiosk technology
for banks and other public installations, such as Millennium TimeCapsule projects on a worldwide basis.
''We believe that American banks are going to leap at the chance to improve service and cut costs,'' says Joe Scali,
Kommerce CEO. ''They are already spending nearly $20 billion on technology. We are estimating that upwards of 1,000
interactive Kiosks will be installed in the next 36 months. Starting at about $30,000 per kiosk station, and even higher for more
advanced systems, that is a minimum of $30,000,000 in business for just that segment of the market alone.''
Digital Gas acquired 50% of Kommerce, a developer, manufacturer and marketer of information technology products, services
and systems. The technologists at Kommerce have enhanced and improved the productivity of Fortune 500 companies,
educational institutions, the government and other corporate clients on a worldwide basis for over twenty-five years. ''The fact
that the company is a 'business incubator' will be especially attractive to the banks, as Kommerce will be at the forefront of new
product development in telecommunications, software and the Internet areas over the coming years and will be able to keep
their multimedia interactive kiosks updated with the most current technologies,'' said Scali. ''Internet transactions are still a small
part of a bank's overall business, but the market potential is huge as bank consolidation drives cost cutting. Currently, only 5%
of banks have transactional Web sites. That's expected to rise dramatically. Frost & Sullivan projects Kiosk sales to exceed
$43 billion in the next two years,'' Scali added.
With Kommerce Interactive Bank Information Kiosks, customers will be able to apply for loans and mortgages, make car and
other payments, receive Mutual Fund information, review stock market performance, review insurance options, and review
investment opportunities. With provision for confidential screen displays, and customer passwords or PIN numbers, customers
can update balance and status of accounts, move funds between accounts, and monitor their portfolios. Customers can print
out the information and reports.
''It's going to be a whole new world out there, for banks and their customers, as well as for providers of financial products. By
making it easier and more convenient, banks support their customers, provide answers more quickly, and enhance their
services. Bottom line, banks will save costs on every single transaction,'' said Dick Calderhead, President of Calderhead &
Phin Advertising. In addition to handling Tri.Mill's advertising account, Calderhead & Phin will be marketing Kommerce's
Interactive Bank Information Kiosks to its Fortune 500 banking and financial institution clientele.
Digital Gas is currently holding discussions with several Wall Street firms to provide Investment Advisory and other services for
its telecommunications, software and Internet-based businesses, as well as its oil & gas business. It expects to conclude an
agreement shortly.
In order to be in more direct contact with its information service business, Digital will move its corporate offices to New York
next month. The Dallas office will strictly handle oil & gas related business.
For further information, contact Brian Smith, 732-449-9784 or digitalgas.com.
SOURCE: Digital Gas, Inc. |
