SFNB, Security First Net. Bank Message Board

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Technology Stocks : SFNB, Security First Net. Bank

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To: Brian K Crawford who wrote (151)	5/8/1997 10:12:00 PM
From: jc	of 507

Brian, Thanks for your response. I agree with what you've said. These guys don't have a clue how to market what they have. Originally, they started out saying they had a competitive advantage offering banking products because they had no overhead like a traditional bank. But they were not making as much progress as they wanted to, so what do they do? Instead of focusing their marketing more effectively, they fall back to the oldest plan in the book, invest money to open brick and mortar branches. Next, their announcement says that they didn't realize that they were going to have so much demnad for the outsourcing part of their business. So where's plan B? Personally, I think they are on the right track to long-term stability if they act as a third-party outsourcer. Instead, they act like they didn't have a clue that this was going to be the most in-demand piece of their business. The least they could do is sound like they have a plan and act like they are purposely taking a change in direction and be able to explein why. I think this is a company that probably has very good software and security products. I don't believe they have any focus, and I think their goal to grow the banking side is stupid. Their bank should remain nothing more than a way to test their products. The money to be made is on the software side, not the bank. And by having the products working on their bank siste, they have a powerful maarketing tool to show other banks the measureable success of the software. I think they are very vulnerable to being taken over by a company that realizes they have good products, but not a clue how to market them. As a reluctant shareholder, I think this is the best thing that could happen to us. Bring on a new CEO! jc

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