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NASDAQ: FECC, BSX: FECC, FECC BH), FEDS Asia provides banks and financial institutions with universal, secure, cost efficient electronic payment solutions.
FEDS was formed early 2000 as a joint venture operation between Bank of Bermuda and First Ecom.
We believe there is a great potential for e-commerce business on the island and are pleased to be working with FEDS to provide our merchants with a much needed e-commerce solution.
We are very excited that FEDS has finally obtained the required regulatory approval and can be equally owned by Bank of Bermuda and First Ecom while being domiciled in Bermuda," said Harold Hutton, First Ecom President and CEO.
Roger Ellis, who brings more than 17 years experience in semiconductor and display technology development and marketing, will develop and implement strategies for FED Corp.
That enables the Philadelphia Fed to offer low-cost, high-quality service that other Feds and even private clearing banks are hard pressed to match.
The privately held company is currently working toward development of its proprietary version of FEDs for a variety of high resolution, custom applications.
The 21 inside jobs since 1987 were reported by the Fed in response to an inquiry from Rep.