Plano, TX (PRWEB) November 12, 2010
Principals today announced the impending release of a FaceBook application known as the Vault. The Vault is designed to transmit electronic funds between socially connected individuals and their demand banking accounts. Designed with the social media platforms characteristics and resources in mind, The Vault takes advantage of the party’s relationship status, accessibility, data sharing and secure identifications to make sending and receiving funds fast, safe and convenient.
Ultimately, The Vault will allow anyone in the United States with a bank account to send and receive money using their FaceBook account. This electronic payment service is accessible as a FaceBook application and leverages the same secure processing as online banking transactions. The money is deducted from the sender's account and deposited directly in the recipient's bank account in one to three business days with payment notifications and confirmations sent to the recipient's and senders email, walls and/or message space. The ability to electronically transfer funds between accounts and financial institutions provides a convenient, easy-to-use, secure service that simplifies financial management and provides an additional payment alternative.
The Vault is anticipating generating significant interest with its unique design and delivery that make it so convenient to use.
According to Patrick Lee, CEO of Top Line Ventures, Incorporated which is the Vaults corporate owner, "There is no question that the role of social media and network communities is here to stay. Just like our ancestors from earlier millennia developed the means to exchange capital -- we are supporting that very same demand with The Vault. It’s a new dimension available to electronic community participants to transfer capital between connected individuals. Yes, it is true that our original inspiration came from the history books. In all our research we know clearly that P2P, or person to person electronic transactions, are about to explode. We just figured we would embed that capability and its inherent conveniences right where so many people are connecting, communicating, sharing and dialoging in the networked world.”
Initial availability of The Vault’s FaceBook© delivery in a limited and controlled rollout process after the completion of extensive testing, licensing and certification will be the fourth calendar quarter of 2010. Future plans call for presenting the same application features on other social platforms such as MySpace©, Okrut©, iPhone®, BlackBerry®, Android®, etc; followed by foreign currency handling and non-US based social media platforms.
About The Vault
The Vault is the collaboration of partners with nearly one hundred years of experience in the financial services, technology, application software, technology and company management. The core design team has extensive experience in financial services, electronic funds transmissions and technical architectures.
The Vault's design is patent pending by the United States Patent and Trademark Office and incorporates a sophisticated engine that feeds the ACH process like any online banking platform, and it combines both the convenience and security of established and existing social connections on the front end. Additional information is available at http://www.ilovethevault.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information.