Innovative Card Technologies appoints John Ward chairman

Source: Innovative Card Technologies

Innovative Card Technologies, Inc. (OTCBB:INVC), developers of the breakthrough one-time-password (OTP) DisplayCard for secure online transactions, announces that Chairman of the Board John A. Ward, III, will additionally assume the responsibilities of Chief Executive Officer.

Ward is replacing founder Alan Finkelstein, who will remain the company's President and Director.

Ward's extensive executive career in the financial services industry includes serving as Chairman of the Board and Chief Executive Officer of American Express Bank, Executive Vice President of The Chase Manhattan Bank, and Chief Executive Officer of ChaseBankCard Services. Most recently, Ward was Chairman and Interim Chief Executive Officer of Doral Financial Corporation.

"John's leadership as our chairman and his commitment to the company, technology and products made it very clear that he was the top choice to assume the reins of CEO at this time of rapid growth for our company," said Finkelstein. "His highly successful career in the financial services industry and extensive contacts in the banking industry will enable us to forge business partnerships with financial institutions and to advantageously position InCard Technologies as we roll out production to meet huge marketplace demand."

On the heels of his 31-year career with American Express Bank and The Chase Manhattan Bank, Ward has successfully turned around and grown a diverse group of companies, both domestically and internationally. These businesses include credit cards, travelers cheques, private banking, correspondent banking, third-party funds distribution, corporate banking, and trade and export finance. He possesses strong expertise in sales management and risk management in wholesale and retail credit.

"Innovative Card Technologies' suite of products provides two crucial assets to financial institutions: security and product differentiation," said Ward. "The company's latest product, the one-time-password DisplayCard, is a simple, elegant security solution that will revolutionize online banking and data systems access. To lead the company as Chief Executive Officer during this exciting time is a fantastic opportunity, and I am eager to introduce InCard Technologies' cutting-edge security technology to the banking sector."

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