News

Netkey teams with Cash Technologies on banking software

June 19, 2002

LOS ANGELES -- Kiosk software developer Netkey Inc. has reached an agreement with CT Holdings LLC, a subsidiary of banking services company Cash Technologies Inc. (AMEX:TQ) to market transaction systems to financial institutions nationwide.

The first product in the partnership is Cash Technologies' check cashing application, BONUS. BONUS will utilize advanced ATMs powered by Cash Technologies' EMMA transaction processing software, according to a news release. BONUS uses proprietary optical character recognition (OCR), biometric identification and a risk analysis engine to establish a user's identity and authorize checks, the release said.

Netkey President Alex Richardson said the application is consistent with his company's strategy to provide innovative self-service products. BONUS is designed to minimize check-cashing costs for financial institutions and reduce waiting times for tellers.