(BSNS WIRE) USABanc.com Sets Launch
USABanc.com Sets Launch
Business Editors
PHILADELPHIA--(BUSINESS WIRE)--August 6, 1999--USABanc.com
(NASDAQ:USAB) today announced that it will launch fully operational
banking and brokerage services on Monday, August 16, 1999.
USABanc.com online banking will include 24/7 access to account
balances, transfers, bill paying and other related functions. A wide
array of lending products will be offered for direct online
application, including residential, auto and commercial loans at
www.USABanc.com.
The site will feature a number of innovative components,
including a "valet service" which will provide a new dimension for
ease-of-use in online bill paying.
Through its wholly owned brokerage firm, USACapital, a full
complement of online stock brokerage services will be offered under
the new "USAForce" business line, at www.USAForce.com. Customers will
be able to buy stock and manage their investments, with free access to
real time quotes, equity and mutual fund research, and IPO
participation.
USABanc.com's featured personal bank account, "energyONE,"
will create a totally new concept in online banking by reducing
minimum balance requirements to a single dollar ($1.00) in order to
receive high yield interest earning accounts.
"Until now, banks have been willing to pay interest and provide
free checking only to customers who maintain high balances; we think
people everywhere, no matter how much money they may have available to
them, deserve great rates without service charges," stated Ken Tepper,
President & CEO of USABanc.com.
The USABanc.com site has been engineered in HTML, allowing fast
and immediate access for customers to both banking and brokerage
products. EDS (NYSE:EDS) has certified functionality of banking
operations, and will provide core data processing for USABanc.com
customers.
USABanc.com is also preparing an upcoming roll-out of its
"Flash" engineered site for customers who select a
multimedia-intensive online experience, relying upon greater bandwidth
for access.
Forward Looking Statements:
Some of the statements contained in this press release discuss
future expectations, contain preliminary unaudited results of
operations and financial condition and state other "forward looking"
information.
Those statements are subject to known and unknown risks,
uncertainties and other factors that could cause the actual results to
differ materially from those contemplated by the statements. The
forward-looking information is based on various factors and was
derived using numerous assumptions.
Important factors that may cause actual results to differ from
projections include, for example: general economic conditions,
including their impact on capital expenditures; business conditions in
the financial services industry; the regulatory environment; rapidly
changing technology and evolving banking industry standards;
competitive factors, including increased competition with community,
regional and national financial institutions; new services and
products offered by competitors; and price pressures.
--30--DS/ph*
CONTACT: USABanc.com, Philadelphia
Kenneth L. Tepper, CEO 215/569-4200
usabanc.com
KEYWORD: PENNSYLVANIA
INDUSTRY KEYWORD: BANKING COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET
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