Jerry Baker has founded many new companies, pioneered advanced data processing technologies, personally taken companies public, and participated in hundreds of mergers and acquisitions. Fueled by Baker’s own experience in the data processing industry, he founded, grew, and took public, Inter-Continental Computing, Inc. (ICCI). ICCI became one of the nations largest on-line, real-time computer firms servicing the credit union and the savings & loan industry.
ICCI’s management team, worked with the Burrough Corporation and other computer manufacturers and vendors to introduce several technological advances in their industry. Some included on-line real-time computer processing, the introduction of intelligent terminals, which provided for inputting and receiving customer information on saving accounts, mortgages, share draft accounts, loans, etc., distributive data processing. (Distributive data processing was a means to connect many smaller remote site computers located across the nation to a much larger Central Computer System. This allowed for sharing of data and the processing and distribution of information through the intelligent terminals). Other advances were electronic funds transfers, as well as remote cash dispensing from a remote Automatic Teller Machine (ATM). ICCI, through its Nationwide Online Real Time Distributive Computer Network, was capable of processing 50,000 transactions hourly. The network operated from 5:00 a.m. to 7:00 p.m. Central Standard Time (CST). Response time for a transaction was in nanoseconds.
ICCI also developed an in-house computer system for credit unions that included computer hardware, application software, installation of the hardware and software, training, conversion and ongoing support. These systems sold for $500,000 to $2,000,000, based on the size of the credit union.
Through a subsidiary called Executive Management Software & Service (EMSS), ICCI developed and provided computer software for the Property and Casualty Insurance industry, EMSS was sold and eventually became part of Equifax Corporation, which is a major, well known credit reporting company. (See additional history of EMSS)
Jerry’s original company, Inter-Continental Services Corporation, was started in 1958 with the help of family investments totaling two thousand dollars ($2,000) from his father Glen Baker and three brother in-laws Notzie Rotolo, Tom Fangrow, and James Bell. Through its numerous divisions, the company built and developed a large national collection agency whose clients were major oil companies, department stores, hospitals, etc.