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From...
Industry Standard

Online banking: The coming revolution

May 12, 1999
Web posted at: 3:03 p.m. EDT (1903 GMT)

by Maryann Jones Thompson

(IDG) -- The Web's potential as a consumer banking forum has yet to be realized. Cyber Dialogue estimates that 7 million surfers, or 11 percent of Net users, bank online today. Many offline banks have yet to open for Net business. The American Bankers Association estimates that only 6 percent of the 9,000 U.S. consumer banks offer online banking.

But increased competition from online brokerages, portals, you name it has banks on the move. Gomez Advisors says 39 of the 100 largest consumer banks now offer Internet bill payment, up from 17 a year ago. And IDC predicts a flood of banks will sign up with online-banking-software vendors in 1999 in order to open their digital branches.

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RELATED SITES:
American Bankers Association
Cyber Dialogue
Gomez Advisors

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