CheckFree Holdings Corp. (CKFR), the next Dell, Intel? Message Board

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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel?

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To: Tom Klempay who wrote (6848)	6/23/1999 10:07:00 PM
From: TLindt	Read Replies (1) of 20297

Merrill, E-Trade, NetBank, CheckFree and a ton of others have the banks doing an about-face on this net stuff. Well you very well could be right, somebody brought me in a Chicago Tribune Article on NetB@nk where an AP writer, Noelle Knox, relates her personal experience with Net Banking through NetB@nk(Monday June 21st edition, section 4, page 10)...have to admit some of it I read I've expericnced myself...but I learned to live with it as part of the growth curve. She ended her article by closing Her checking account with with NetBank on June 15th...but before doing so she called and talked to D.R. Grimes...their quotes relating to account growth. June 14: I talk to Net.Bank's vice chairman and chief executive officer D.R. Grimes and give him the run down. He explains: "We increased our account growth by a factor of five, and we found a lot of areas that put strain on, and we've had to go in and make changes." He said the bank is opening 350 to 400 accounts per day, "so what we've found out is the vendors we were working with were not set up either for that kind of volume coming from one place" Service is important but growth is too...being both a customer and an investor..sometimes I've been happy and sometimes pissed off with on line. What rang out was this to me...account growth by a factor of five and is opening 350 to 400 accounts per day Back in December if I recall the account growth was 350 to 400 a week at NetB@nk, 5 days a week?...factor of five? Some of my own math 400 accounts a day by 250 work days in a year...100,000 new accounts? Slanted and optomistic on my part, but I can remember when this bank had 5,000 customers and grew 2000 accounts in quarter. Now they seem to do that 2000 in a matter of days if I can believe what I read. I remember the same negative account service comments on the e-broker threads as they piled it on exponentially. If that truely is the case and we will all hear about it next month in a press release these Brick Banks are getting creamed exponentially in e....and deserve it.

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