Mr. Corrington's successful 35 year career has centered around creating and operating
profitable businesses driven by leading edge technologies for both startups and multibillion
dollar corporations. As a result he draws upon a wealth of field tested hands-on experiences
when it comes to leading companies embarking on their own ground breaking ventures.
At IBM he began in sales and marking of large-scale transaction processing hardware and
software to the financial industry. He led the team that created one of the first online
systems to move banking practices from manual data entry to live update of consumer's transactions.
Following entrepreneurial instincts he cofounded Financial Data Systems in the 70's and obtained
the rights to license the IBM Online System as a remote data center service for financial institutions.
This service was a forerunner of today's "outsourcing" model and he directed sales and marketing to
grow the enterprise to 20 million in recurring revenue by converting 100 bank clients with over 10
million consumer accounts to 9 FDS data centers across the US.
Mr. Corrington also has in depth experience in writing and executing business plans, RFPs,
private placement memorandums, strategic alliances, and in the sale and acquisition of businesses.
The FDS Company was acquired in the 80's by Citicorp as the keystone for their start up division
Citicorp Information Resources that provided application services to financial institutions. Under
an earn-out contract he participated in acquiring and integrating additional data centers that grew
Citicorp's business to 100 million in recurring contractural revenue from 1600 financial institutions.
His creative out of the box thinking resulted in the founding of a contract programming group
and the negotiation of an outsourcing agreement with Citicorp to hire 75 of their developers and
lease them back to reduce the bank's headcount and associated "overhead". This group also spawned
a laptop field sales automation startup and a data center search engine for creating and assigning
barcode numbers to commodity items used in the HVAC distribution industry.
Mr. Corrington most recently was CEO of National CacheCard Co. where he put together a team to
develop and operate one of the first smart card end-to-end systems in the US in the 90's. This
platform was deployed in various vertical markets as follows:
- Washington University in StLouis where 30,000 multiapplication ID
cards initiated over 1 million offline ecash transactions through
400 vending, copier, and POS readers at 10 different retail merchants.
- Montana Medicade pilot that issued personalized 8K byte cards to
recipients to use as eligibility ID cards at providers offices.
- Missouri Aid to Families with Dependent Children pilot where smart
cards were issued in place of monthly checks. The beneficiaries' ID
card epurse was loaded at kiosks in inner city food stores where purchases
were then deducted from the card balance off line at checkout lanes
equipped with POS terminals.
- US General Services Administration Smart Card Technology Center
that installed the companies epurse system to demonstrate the use
of digital cash to government agencies and legislators.
- US Postal Service contract for $500,000 to build a prototype "Universal
Card Acceptor" for use in stamp vending machines to boost the sale
of postage stamps by accepting credit/debit/smart cards in addition
to coins and currency.
- PRC Litton which selected NCC as a subcontractor to provide the
epurse application for the Common Access ID Card to government employees.
National CacheCard was sold to a Silicon Valley startup in 2001 and Mr. Corrington is now
advising several startups plus serves as an Expert Witness in smart card litigation.
