FAC Wins Bermuda Innovation Award

First Atlantic Commerce wins Bermuda Government's Coveted Innovation of the Year Technology Award

FAC honored for creatively using technology as a tool to innovate the e-commerce industry

Hamilton, Bermuda. April 30, 2008. First Atlantic Commerce Ltd. (FAC), a leading international, multi-currency payment and risk management solutions provider, last week won the Bermuda Governments Ministry of Telecommunications & E-Commerces Innovation of the Year award for FACs online Consumer Authentication solutions.

Organizations across the world-class, offshore financial centres private, public and non-profit sectors that are creatively using technology as a tool to innovate in their designated industry were nominated under various categories including: Best Interactive Experience, Best Local Website, Most Inspiring Technology Teacher, Best Business Solution Using Technology, Best Customer Service, Technology in the Environment, Most Innovative Sponsor and top category Innovation of the Year.

Bermudas Telecommunications and E-Commerce Minister, the Hon. Terry E. Lister, and Dion Tucker, Vice President of Information Technology for event sponsor and insurance/reinsurance giant, RenaissanceRe, presented the crystal trophy award for Innovation of the Year to FAC CEO, Andrea Wilson at the TechAwards luncheon held on Friday, April 25, 2008 at the Fairmont Hamilton Princess.

Based on criteria including a truly innovative technology solution that is commercially in use in Bermuda and utilizing Bermuda-based infrastructure and/or resources, the winning companys innovation had to be a true showcase piece for the Island, according to the panel judges representing both Bermudas private and Government sectors.

FACs innovation involved implementing a unique standalone Verified by Visa and MasterCard SecureCode cardholder "authentication-only" solution designed for the burgeoning Mexican online business market including airlines, hotels and large retailers.