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NSCP & CCI to Launch Personal Finance Channel on NSCP Netcenter
This article, released by Netscape, does not mention SFNB. However, someone correct me if I'm wrong, but on June 26, didn't SFNB announce a multi-year, multi-million dollar contract with Citi to provide data processing services through the S1 Data Center for a portion of Citibank's Net-based financial services transactions?
QUOTING:
Netscape and Citibank Announce Major Worldwide Agreement to Launch Personal Finance Channel on Netscape Netcenter
MOUNTAIN VIEW, Calif. and NEW YORK, Aug. 11 /PRNewswire/ -- Netscape Communications Corporation (Nasdaq: NSCP - news) and Citibank (NYSE: CCI - news) today announced a strategic worldwide agreement that will make Citibank the anchor tenant of the upcoming Personal Finance Channel on Netscape Netcenter. This represents a multi-year 'pay for performance' agreement that not only is one of the largest in the industry for finance channels, and the first major Internet portal relationship for Citibank, but also takes a significant step towards redefining the emerging portal business model, traditionally based on impressions.
The new channel will debut on Netcenter this fall as part of Netcenter's fall line up of new consumer channels. Citibank will receive exclusive branding and positioning on the front screen of Netcenter and its Personal Finance Channel, with additional semi-exclusive sponsorships on sub-channels devoted to financial services. Citibank will also receive positioning on Netcenter's home page. The Personal Finance Channel will serve as a complete resource allowing Internet users to manage their finances, conduct financial transactions online and provide Citibank with a way to reach the active financial services consumers online, as well as provide access to millions of new customers using a global touchpoint.
This partnership is uniquely structured to link Netscape's compensation to the performance of the channel as a customer acquisition vehicle for Citibank. ''Netcenter is already one of the most visited sites on the Internet,'' said Ed Horowitz, Citibank's Corporate Executive Vice President. ''This agreement gives us the opportunity to lock in a low-cost mass consumer acquisition program in 150 countries, while setting up a distribution pipeline for future electronic commerce products and services.''
''This agreement represents a first for new channel sponsorships in the budding Internet portal industry,'' said Jim Barksdale, president and chief executive officer at Netscape. ''Citibank demonstrates how a leading company can not only leverage Netscape software to create state-of-the-art financial service applications, but also take advantage of our Netscape Netcenter portal site to promote its services and strong brand to the millions of Internet users who visit Netcenter each day. Citibank's decision to sponsor our new personal finance channel enables Netscape to put all the pieces in one place to create a compelling personal finance offering for Netcenter users furthering our strategy to turn Netcenter into a leading destination site.''
The agreement and launch of the Personal Finance Channel on Netcenter further both Netscape and Citibank's presence in the growing electronic commerce and portal market. For Citibank, which will now promote its financial services globally to millions of consumers through Netcenter, the agreement is expected to help Citibank acquire new customers supporting its goals of achieving one billion customers by 2010. Under the agreement, Citibank receives premier branding and positioning on the front page of the Personal Finance Channel, throughout the service, as well as, cross-promotion through other Netcenter channels. For Netscape, the agreement secures a primary anchor tenant for the new Finance channel, which will make Netcenter one of the most comprehensive financial sites on the Web, complete with immediate access to Citibank's leading financial services. This agreement marks the first time Netscape will debut a new primetime channel in conjunction with a major sponsorship.
The Personal Finance Channel will combine advisory content, news, research, and interactive tools into a single destination that leverages the power of the Web to make personal finance easier. From tracking stocks and portfolios, to researching potential investments, to applying for mortgages and insurance policies online, the Netcenter Personal Finance Channel will offer a spectrum of informational and transactional resources. The first version of the channel will focus on investing-related content and will offer relevant information for investors to make informed decisions about managing their money, and then act on those decisions. The investment service will include services such as portfolio tracking, investing tools, quotes, charts & news, market analysis, stocks, mutual funds, investing basics, and interactive features such as an email newsletter and email and pager alerts. Subsequent content and transactional areas, to be rolled out in phases, will include Online Banking, Insurance, Mortgage as well as other key personal finance areas. Citibank's presence will be extended to these areas as well.
Netscape Netcenter is Netscape's leading portal site that provides users with a home base on the Internet. Netcenter, which went live just eleven months ago, already has more than 6 million registered members. From Netcenter, users can navigate the Internet, access a broad range of consumer and business content and services and communicate with others online. The site includes seventeen content channels, a set of leading-edge services including the new Netscape-branded Search, SmartUpdate, Software Download, Member Directory, My Netscape personalization service and WebMail.
Citibank, a global provider of financial services, serves consumer, business, governmental and institutional customers. Founded in 1812 in New York, the bank was a pioneer in establishing a worldwide network of offices to meet the growing needs of corporate customers in the 20th century. Its Global Corporate Banking unit today serves major international corporations and local growth companies around the world. Its Global Consumer business brings advanced technology to individuals in 56 countries. This service includes credit, payment and investment services through branches, electronic access, and credit cards. More than 93,000 employees are located in offices in 100 countries and territories. Citibank can be reached on the web at citibank.com.
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Doug (long SFNB)
dougsimpson.com |
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