NetBank(NTBK)-formerly Atlanta Internet Bank Message Board

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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank

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To: peter michaelson who wrote (535)	5/27/1998 11:31:00 AM
From: Les White	Read Replies (1) of 2414

Nicely put, Peter. You mentioned low customer loyalty. I think that's the achillies heel, if there is one. Once the "me too's" show up we'll be competing for the hot money. I think that's a ways off though. Launching an internet bank is not nearly as easy as it seems. I had a conversation this past weekend with G&L's incoming CTO. He comes from Chase Texas which is about to launch it's own internet banking service. He helped launch Melon's internet bank services, also. He said you'd be amazed at how clueless these big banks are about putting together a well thought out and profitable foray into internet banking. Most of them are hoge poges of software and systems that are patched and added onto, grow like weeds, and require lots of expensive maintenance. Most are lacking documentation and of course the creators no longer work there. He's glad to be coming into a clean slate situation where he can establish the right architecture for growth. Les

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