Tuesday June 29, 11:03 am, Eastern Time
Company Press Release
SOURCE:Digital Gas, Inc.
Digital Gas Subsidiary Kommerce Systems Awarded Contract for Millennium TimeCapsule Interactive Bank Information Kiosks
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
These will greatly enhance customer service both in home and at
In the process, banks will be delivering a whole new stream of
value-added products, and reducing their customer transaction costs by as much
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
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.
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
Digital Gas acquired 50% of Kommerce, a developer, manufacturer and
marketer of information technology products, services and systems.
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.
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,''
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 &
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
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