cavion.com (Nasdaq: CAVN), a leading credit union business-to-business communications and Internet services company, today announced it has developed software that enables credit
union consumers to use cellular telephones and Palm VII(TM) cellular personal data assistants (PDAs) to conduct secure Internet banking transactions. The new software is an upda
ted version of a secure Internet connectivity product for cellular phones previously developed by cavion.com in 1998.
"Our cell phone and PDA Internet banking products let credit union customers conduct secure Internet banking transactions from anywhere, at anytime," said David J. Selina, cavion
.com president and chief executive officer. "We anticipate the demand for secure wireless Internet connections will grow steadily in the coming years. With this new product, we h
ave positioned our credit union customers to be able to provide this service immediately. We believe this new software gives both cavion.com and our credit union clients a strong
cavion.com's cell phone Internet banking product is currently available for telephones equipped with Web-enabled browsers. The new cell phone Internet connectivity product is a m
odified version of cavion.com software currently in use at credit unions to provide secure Internet account access to their members. The software uses new versions of hypertext m
arkup language (HTML) called handheld device markup language (HDML) and wireless markup language (WML). HTML is a common Internet programming language. Both HDML and WML use stan
dard Internet security protocols.
The Palm VII PDA product is written in HTML language specifically designed for the Palm PDA. The PDA version is available from cavion.com for no cost on the Internet. PDA users s
imply download the software onto the PDA. Once installed on the Palm VII, members of cavion.com client credit unions can access their accounts by striking an icon on the Palm VII
's screen. The PDA then logs onto the Internet banking system at the member's credit union.
"At the time we recognized the high cost of the device would limit its acceptance as a widely used Internet access tool," Selina said. "However, it provided us with a very valuab
le research and development opportunity that has led to this new product. We anticipate it will have a much wider appeal because Web-enabled phones are now available at retail pr
ices starting at about $99."