Fortress Financial Group, Inc. – Appointment

 

 

Released on: January 16, 2008, 1:42 am

Press Release Author: Fortress Financial Group, Inc.

Industry: Financial

Press Release Summary: Fortress Financial Group, Inc. appoints Mr Jack Chang as a Consultant

Press Release Body: NEW YORK, NY, January 15, 2008 Fortress Financial Group, Inc. (PINKSHEETS: FFGO confirms that the Company has appointed Mr Jack Chang as a Consultant to the Company with immediate effect. Mr Chang has entered into a five year contract with the Company, a copy of which is being filed shortly; on a Form 8-K with the SEC.

The Form 8-K filing will contain all of the details of Mr Chang’s remuneration and incentive package with the Company.

Mr Chang is a specialist in the development and implementation of International Debit and Credit Card systems; and will be developing, managing and overseeing the Company’s launch of at least ten new MasterCard Debit Card products; in and during the next two months.

Mr Chang brings his vast experience and expertise; primarily in financial service consumer products and “cutting edge” payment solution technologies to our Company, all of which will be “fast tracked” thereby ensuring that our Company expands its financial service interests and its product range, at a very rapid pace.

Mr. Chang is a businessman, an inventor and an entrepreneur with over 25 years of business and technology experience across multiple industries. He has the proven track record of conceptualizing how technologies can benefit the well being of consumers and businesses and then transform his visions into realities. Many of his past endeavors, including the Automated Teller Machine (Mr. Chang is the developer and patent co-holder of the ATM) still have profound impacts on consumers, businesses and the society.

As a multi-disciplined individual, he has held CEO and other corporate-level positions in sales, corporate development, and technology in large and small corporations. His past customers included consumers and businesses at large as well as some of the largest of the Global 500 companies, including Citibank, Coca-Cola Enterprises, American Express, Sears, Visa, EDS, and NationsBank/Bank of America, etc., for whom he had also provided strategic planning and business advisory support.

Mr. Chang has a BSEE degree in Electronic Engineering from Purdue University, a MBA in Marketing/Sales from Southern Methodist University and had done PhD studies in MIS (Management Information System) at University of Texas - Dallas Extension.

Mr Chang’s biography reads as follows:

Docutel Corporation (1969 - 1977)
In early 1970’s he started worked for Docutel Corporation. Starting out as an electronic engineer, he became a project manager then Director of research and Development and then Major Account Sales.

He was involved and was responsible in the development of most of Docutel’s products during his tenure. Since 1974, he participated and directly involved with the sales of hundreds of ATM’s, including hundreds of travelers check dispensers to American Express. He was also instrumental in the sale of over 1,000 ATM’s in Europe.

Quadstar Corporation (1977 -1984) ; President
In 1977, he was offered a consulting assignment to design and develop an electronic payment transaction switching and processing system for American Express. He also developed plans and implemented systems mostly for banks and credit card processing service providers.

In 1980, he saw an opportunity to build ATM and POS transaction switching and processing systems as a business because of the banking deregulation. Very quickly, he sold the idea of first such system to Bank of Ohio and then to a series of other financial and retail institutions. Within three years, Quadstar grew to 150 employees and sold 110 systems worldwide. In 1984, he sold Quadstar to Citicorp, then Quadstar’s largest customer.

Citicorp/Quadstar (1984 - Late 1986); President
From 1984 to 1987, Mr. Chang was the head of a Citicorp company with global marketing and sales responsibilities. His responsibilities included evaluating the services, assets and intellectual properties of various Citicorp operating entities for potential revenue opportunities then develop plans and implementations to effect the opportunities. The revenue generation plans include design and or implementing innovative service delivery infrastructures, such as encryption, satellite and wireless networks.

His marketing and sales endeavors required him to organize and manage a team of U.S. based marketing managers and sales representative as well as to coordinate sales activities with regional Citicorp representatives in five continents of North America, South America, Europe, Asia and Australia. During this period he traveled extensively to close major sales and interacted with high-placed prospective executives of Global 1000 companies.

Itac Corporation (1987 - 1990) ; President
In 1987, Mr. Chang foresaw the use of PC’s as the platform for bank teller and platform systems. He arranged with Citicorp to leave his then post and formed Itac Corporation. He led his high technology team in the design effort, and within one year, Itac developed an easy to use Windows application generator and database system by 1988.

For connectivity for the developed Windows applications, Itac also developed and marketed one of the earliest LAN-gateway systems capable of easy connection of LANs to NCR and Unisys mainframes, as well as IBM host systems.

In 1989, using the applications generator and LAN-gateway, Itac created and marketed one of the earliest PC-based bank teller and platform systems. Itac sold the teller/platform systems to several financial institutions. In 1990, ISC/Bunker Ramo (later on became part of Olivetti Business Systems), then the second largest teller/platform system provider, acquired the product line from Itac.

ISS (International Shared Solutions), Inc. 1991 -1998; President
ISS was a technology and business consulting company. To enhance its consulting activities, ISS developed, in 1991, a BPR (Business Process Re-design) tool that can analyze business processes and make redesign recommendations.

Mr. Chang and his team of technical and business professionals performed business process re-design and management and technology consulting services to Fortune 500 companies. The consulting assignments included:

• Five year strategic operations and technology plan for NationsBank
• A secure Internet-based credit card transaction system for Visa
• Smart Card marketing and deployment strategy for VeriGem (Joint venture of Verifone and Gemplus)
• Product market strategy for VeriFone, the POS maker
• An electronic payment system marketing and deployment strategy for Unisys
• Intelligent intranet system for Coca Cola Enterprises
• Enterprise network strategies for Deluxe Checks and Ceridian Employer Services
• Data security plans for Deluxe Checks and Ceridian Employer Services
• Internet browser-based payroll data submission system for Ceridian Employer Services
• Wireless strategies for EDS

Global-Vision, Inc. (1999 - 2007); President
In 1999, Mr. Chang decided to be involved heavily with the Internet and wireless technologies and re-incorporated his operation as Global-Vision. The software products developed under the Global-Vision banner include:

• High volume Laser printer control systems that can increase the printing speed and reduce the need for font and image management for most print processes
• Developed an overall knowledge management system that combined the need for paper printing, Electronic Bill Presentment, information archiving and viewing.
• Computer Telephony Integration (CTI) and Interactive Voice Response (IVR) Systems - Including integrating CTI/IVR systems with the Internet
• An advanced Internet/intranet authoring tool (the Silverado) that can be used to create not only sophisticated Web sites but also intelligent business process workflow systems.

In early 2000, Global-Vision began working on wireless application potentials with Nippon Columbia, which represents an alliance of industrial giants that includes Hitachi, Sanyo Electric, Fujitsu and Infineon (the semiconductor part of Siemens of Germany). The result of the collaboration resulted in a marketing rights agreement of a semiconductor chip containing a smart card computer, a cryptographic engine and capable of high-density storage. Mr. Chang’s goal is to incorporate the chip in various devices (such as cell phones) for various applications, including a cell phone activated wireless payment system.

AEFT (Advanced EFT) (2004 - Present); President
Since the 1990's Jack Chang has been developing plans to satisfied mass consumer needs on a global scale. With the understanding that most of the 6.4 billion consumers in the world are un-banked or under-banked, he realized that the Prepaid Debit Card system will soon be the "Prevalent Retail Payment System of the World". With the objective to capitalize on and capture the window of opportunity and the ensuing market share, Jack Chang created AEFT in 2004 to be the business developer and wholesale marketer of advanced Electronic Payment Systems products. AEFM currently has product development joint venture and alliance relationships with payment system processors and banks in Asia, Africa, Europe and the U.S. AEFT also has a network of globally distributed sales agents and licensees to market its currently available International Prepaid Debit Cards, prepaid healthcare and insurances benefits, international money transfer service, check cashing and clearing service and Merchant Account Service.

AEFM's revenue model strives to create both initial and long-term recurring commission revenue streams from a global customer base through mass distribution marketing channels. Its customer base includes businesses and banks distributed across all regions of the world. AEFT also performs payment system consulting services to selected international clients.

Fortress Financial Group, Inc. will be working closely with AEFM on its product launches and the utilization of the proprietary and “cutting edge” technologies developed by AEFM.

Alan Santini, the Chief Executive Officer of Fortress Financial Group, Inc. commented “that he was honored to be working with Jack Chang on a day to day basis and that the products already introduced to our Company by Jack. will be rapidly implemented into our now very fast growing portfolio of MasterCard Debit Cards and other payment solutions products”. Alan Santini added that “Jack’s invaluable connections and experience have already resulted in new and renegotiated deals being brought to the Company, all of which will have an enormous impact upon on our immediate profits from existing and soon to be introduced products and technologies.” Alan Santini added “that with the Company’s US$1 billion asset base comprising of quoted Gold Mining stocks, held by the Company as a passive investment; the Company would have no need to raise the considerable funds planned for the extensive Marketing and Advertising of the Company’s products, commencing within the next few weeks.”

About Fortress Financial Group, Inc.
Fortress Financial Group, Inc.
is primarily engaged in the issuing and marketing of prepaid debit and credit card and related payment solution activities. It has just announced the acquisition of Moneyworx, Inc., a reseller of MasterCard prepaid USA Domestic and International Prepaid Debit Cards. The Company will have no less than twelve individually branded and tailored Debit Cards within the next two months.

Fortress Financial Group, Inc. will be launching its own label “Fortress” International Debit Card in the first quarter of 2008.

The Company operates through Fortress Card Solutions, Inc. and Moneyworx, Inc. The Company will be shortly be establishing an office in Nassau, Bahamas; primarily to service our High Net Worth “offshore” cardholder base.

Fortress Financial Group, Inc. (formerly Great West Gold, Inc.), was a gold mining exploration stage company, engaged in the acquisition and exploration of mining properties in the United States. The Company retained these Gold Mining Exploration interests as portfolio assets; as it intended to extract value from these assets through a future “spin off” or a sale. The Company has now disposed of its interests in the “Ambassador”, “Golden Eagle” and “Mockingbird” Gold Mining Exploration properties to Hunt Gold Corporation (PINKSHEETS : HGLC); and holds approximately 48% of Hunt Gold Corporation shares of outstanding Common Stock, as an investment.

The Company retains it interest in the “South Copperstone”, and “Bouse” Gold Mining Exploration properties, at this time. It is expected that these two remaining interests will be exchanged for shares of Common Stock in a USA Gold Mining & Exploration Company, within the next six weeks.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.

Web Site: http://www.fortfinancegroup.com

Contact Details: Fortress Financial Group, Inc.
Alan Santini
Chief Executive Officer

investor@fortfinancegroup.com

Tel: (954) 840-6961

1903 60th Place E.
Suite M2240
Bradenton
Florida
34203

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