RItech schedules lectures
The Rhode Island Technology Council will kick-off its professional development lecture series, with a presentation entitled “The Venture Capital Journey” on Wednesday, Oct. 11 from 5:30 p.m. to 7 p.m. in the offices of Tillinghast Licht Perkins Smith & Cohen in Providence. The program will explore the best practices and pitfalls of securing financing through a variety of methods, including venture capital and initial public offerings. The presentation is sponsored by Tillinghast Licht Perkins Smith & Cohen and Ernst & Young. The cost of $15 for members and $25 for non-members, with the program followed by a networking reception. In November, RItech will present a program compensation to attract and retain technology workers, and December’s topic will be strategic planning for the chief operating officer.
AAA partners with Sovereign on-line
BOSTON – AAA Southern New England and 1st Webbank Direct.com, a division of Sovereign Bank, began offering online banking services in mid-September to 1.8 million members of AAA Southern New England. Members can conduct transactions on their account over the Internet, through ATMs, by telephone, by mail or utilize check cashing capabilities at any of Sovereign’s 281 community banking offices in New England. “For decades, our club has been offering automobile loans, home equity loans, and lines of credit, and mortgages to our membership,” said Mark A. Shaw, executive vice president and chief operating officer of AAA Southern New England. “Accordingly, by providing online banking services to our members, we help them meet their changing financial service needs.”
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Spanish e-payment processor chooses Nestor
PROVIDENCE — NestorCommerce, the financial services and e-commerce division of Nestor, Inc., in conjunction with its alliance partner ACI Worldwide, announced the licensing of its PRISM® risk management solution to Sistema 4B, S.A. 4B, the largest e-payment processor in Spain. Sistema will use PRISM to proactively monitor ATM and POS transactions for debit card fraud. “Sistema 4B drives the ATM and POS networks for more than 30 commercial banks in Spain and is playing a major role in the development of new e-payment technology,” said Jose Sanjuan, deputy general manager of Sistema 4B. PRISM employs Nestor’s patented neural network technology in a robust solution that integrates with 4B’s existing processing operation. PRISM identifies subtle patterns of fraudulent behavior by comparing individual card usage with known patterns of fraud and monitors transactions in a near real-time environment. When a suspicious transaction is detected, the PRISM flags it for prompt and appropriate action.
Shazamm re-designs DefendNet Web site
PROVIDENCE – Shazamm, LLC, a Providence based Web design firm, has completed and launched phase one of the newly redesigned corporate Web site for DefendNet Solutions, Inc. (www.defendnet.com). Shazamm reports that it has also redesigned and built Web sites for other high tech companies, including SyNet, OEM Controls and Molecularware.
AHA offers high-speed network to improve patient care
WALNUT CREEK, Calif. (PRN Newswire) — Recognizing the need for the nation’s health care providers to meet the growing technology challenge, the American Hospital Association (AHA) and Darwin Networks will offer hospitals and health care-related customers access to a private, reliable, high-speed data communication network to improve patient care and enhance operations, the AHA and Darwin said. Using this network rather than the less secure public Internet, hospitals and their affiliated organizations will be able to quickly and securely exchange large digital images (MRI, CT, X-ray, etc.), transfer electronic medical records, conduct videoconferences, and manage administrative data such as billing, claims, payroll and accounts receivable. The private nature of this network will also help hospitals begin to address the security requirements under HIPAA (Health Insurance Portability and Accountability Act of 1996).
Lycos shareholders to vote on Terra acquisition, Oct. 27
WALTHAM, Mass. — (Bloomberg) — Lycos Inc., an Internet-search service, said shareholders will vote on the its proposed purchase by Terra Networks SA on Oct. 27, setting the last hurdle for the $12.5 billion acquisition. Lycos announced the date in a proxy filed with the Securities and Exchange Commission. It also said in the filing that it would have to pay Terra $347.6 million as a termination fee if the purchase is canceled for certain reasons, such as if Lycos accepts a buyout offer from another company. Terra, Europe’s second-largest Internet-service provider, agreed to buy Lycos in May to enter the U.S. market and to expand in Asia and Europe. The companies’ boards and Terra shareholders have approved the acquisition. Terra also has completed a sale of about $2 billion of stock to parent Telefonica SA, Spain’s biggest telephone company. Terra Lycos Inc., the company formed when the purchase is complete, will have more than $3 billion in cash and plans to buy other Internet companies, Lycos has said.
