Isaac Daniel, whose Global Positioning System (GPS) sneakers gained worldwide attention in 2007, has announced the company’s newest GPS shoe,  Blue GPS. The new version of the GPS shoe is being billed as a social networking shoe. Called Blue GPS because of their Bluetooth capability, the new shoes enable the wearer to be tracked by friends and family through their cell phones. The wearer simply inputs up to five phone numbers of family/friends into his cell phone (eventually this capability will be able to be expanded to up to 20 people) and pushes a button on the shoe to activate a link with those on his list. The Blue GPS can be enabled with all cellular phones.

“This is an important step in the progression of our company and product line,” said Isaac Daniel, chairman, IDG (Isaac Daniel Group). “This is an affordable price point for consumers and a fun product to have. People will be able to see where their friends are — and have a better idea of estimated arrival time — without having to call them. And, because the wearer doesn’t have to be talking on the phone while driving, it will definitely improve safety.”

Daniel, on a recent business trip to Europe, tested the phone with various friends and business associates in the United States, Europe and Africa.

“I inputted several names worldwide and activated the link,” he said. “They were able to track me via their cell phones and even on Facebook. That’s why we refer to the Blue GPS as social networking with your feet.”

In addition to the button linking the shoe and cell phone users, another button can be pressed for an ‘E911′ call. When that button is pushed, a signal is sent to IDG’s monitoring division, ID Conex, which then attempts to contact the wearer. If the shoe wearer does not respond, ID Conex then alerts the proper authorities.

Daniel also emphasised that the original GPS shoes — using IDG’s patented Quantum Satellite Technology — are currently being field tested for future military and healthcare industry usage.

Blue GPS is expected to retail for about $150 when it hits stores in Latin America this fall.

Now that is some Extra Ordinary Extra intelligent footwear one can buy!!

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• Centralize collateral management, across the entire spectrum of offerings including
  • Load,
  • Trade Finance
  • Treasury
  • Overdrafts
• Limits definition & monitoring..
• Centralized online tracking and monitoring of multi-currency limits for all transactions across all branches or entities – in countries as well as regions
• Tracking and measurement of exposure across the institution.

The solution helps banks make informed credit decisions with fast and accurate credit information – by customer and segment – while also helping to improve exposure management with collateral pooling and contribution controls. Banks can use the solution to help streamline collateral management processes with a flexible structure that provides for real-time revaluation. This enables them to maintain realistic limits that reflect prevailing market trends. Using Oracle Business Intelligence Publisher, Oracle FLEXCUBE Enterprise Limits and Collateral Management can also provide financial institutions with easy access to actionable business information with the use of dashboards and other intelligence tools for both regulatory and key stakeholder reporting.

The application is process-driven and architected (SOA) to deliver comprehensive capability that helps banks to deploy it centrally. It leverages the Oracle Industry Reference Model for Banking to help standardize business processes and replicate best practices across the enterprise. Built on Oracle Fusion Middleware, Oracle FLEXCUBE Enterprise Limits and Collateral Management delivers standards-based integration to coexist with banks’ existing business applications including core banking systems, loan systems, reporting and risk analytics applications.

“Enterprise limits and collateral management is of paramount importance for successful credit risk management at banks, and even more crucial given the ongoing financial market turmoil. Having excellent visibility of their client accounts would minimize defaults and help thaw out the liquidity freeze by increasing banks’ confidence in lending,”

said Li-May Chew, CFA, Senior Research Manager, Asia/Pacific Risk Management Advisory Service from Financial Insights (an IDC company).

“Most vendors offer limits management within their repository of risk offerings, but often times, these functionalities are not principal capabilities but incorporated into broader credit risk offerings. Oracle’s offering of this SOA-based application can centralize exposure management across the financial institutions’ product offerings and assist them in making better-informed credit decisions. Such a system that is integrated into a comprehensive business process framework would allow for easy deployment in various types of institutions with different process flows and requirements.”

- – -

“Banks can no longer afford to silo information in multiple repositories and aggregate that data through some nightly batch process. Day old data is no longer sufficient for an effective risk management practice,”

said Adam D. Honoré, Senior Analyst, Aite Group.

“Further, banks need to be building a framework that allows some agility in being able to adopt new data sources and incorporate as much relevant information as possible, as quickly as possible, into their client and counterparty management.”

- – -

“Significant losses and evolving regulatory controls are forcing financial institutions to revisit exposure management processes for their portfolios and adopt best practices that help avoid overexposure to specific business segments,”

said NRK Raman, Managing Director and CEO, Oracle Financial Services Software.

“Oracle FLEXCUBE Enterprise Limits and Collateral Management is a comprehensive, standards-based solution that enables banks to centralize their processes as well as monitor, control and report their exposure to key stakeholders and regulators. To meet the needs of customers, the application is designed to co-exist with a bank’s current application environment to minimize the resources and costs associated with getting these processes streamlined.”

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