Global Technology has secured more than $1.1 million (more than R13 million) in royalties from two international deals for its GLOBUS Internet Banking application.
RZB Bank of Austria and Al Rajhi Bank in Saudi Arabia have bought the software, developed by Global Technology, for $945 000 and $210 000 respectively.
The solution allows customers to use direct dial-up or the Internet to conduct remote banking anytime from anywhere in the world. It offers international security standards of 128-bit Secure Socket Layer encryption, mandatory username and password use, attempted security violation detection, timeout initiating automatic logoff and a detailed transaction tracking audit trail.
"The deals are strategic to Global Technology in that they are new customers in countries outside Africa, generating dollar-denominated revenues, and they further entrench Global Technology`s export strategy," says Barry Leonard, business director, International, at Global Technology.
Swiss Stock Exchange-listed TEMENOS sold the solution to both banks and pays a royalty on the sale price. TEMENOS purchased the rights to the Internet Banking application in 2001.
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