News

pieNetworks taps into Australian financial sector

May 14, 2002

PERTH, Australia -- Australian kiosk developer pieNetworks Ltd., expanding its base in the Australian financial sector, has reached a deal to supply a line of branded Internet banking terminals for Perth-based Police and Nurses Credit Society.

The first terminal was deployed last week at the Joondalup Police Academy in suburban Perth as a pilot. Credit society members can access product and service information at the kiosk and make financial transactions.

Campbell Smith, pieNetworks managing director, told The West Australianthat there was no fixed schedule for running the test in Joondalup. Under the terms of the deal, the credit society will also advertise on four PieNetworks kiosks located at Perth-area hospital sites. No details were announced concerning further kiosk deployments within the credit society system.

Smith did not reveal revenue projections for the project, but characterized the deal as door opening rather than revenue generating.

"It's not a material contract in terms of revenue for us," Smith told The West Australian. "It's significant in that it's the first of the credit union -- and that's obviously a big market -- and it reinforces the analogy of our technology and our product to ATMs."

The project is the second for pieNetworks in the financial sector, according to The West Australian. Last September, the company reached an agreement with Perth bank BankWest to install and maintain 26 financial services kiosks over a one-year period.