USAB....does this warrant being on the list?
PHILADELPHIA, Aug 6, 1999 (BUSINESS WIRE via COMTEX) --
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.
Copyright (C) 1999 Business Wire. All rights reserved.
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CONTACT: USABanc.com, Philadelphia
Kenneth L. Tepper, CEO 215/569-4200
usabanc.com
WEB PAGE: businesswire.com
GEOGRAPHY: PENNSYLVANIA
INDUSTRY CODE: BANKING
COMPUTERS/ELECTRONICS
COMED
INTERACTIVE/MULTIMEDIA/INTERNET
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