Some news from the opposition. Now Transpoint claiming its product will be operational in "early 1999." Meaning before June 30. We'll see.
First Data Direct Banking Announces 60th Client and Its First TransPoint Pilot
OAK HARBOR, Wash.--(BUSINESS WIRE)--Nov. 30, 1998--
InterWest Bank Selects NetPrecision Home Banking Service
as Its Outsource Provider of Internet Banking Services
InterWest Bank, a $2.45-billion institution with headquarters in the Pacific Northwest, is Internet banking leader First Data Direct Banking's 60th client, the two companies announced Monday.
In addition to choosing NetPrecision Home Banking for its transactional Internet services, InterWest is the first NetPrecision bank to pilot the TransPoint Internet bill delivery and payment system.
"We're very excited to have this opportunity to introduce bill presentment service to the Northwest. We operate in a market area that is anxious to make use of this latest convenience in electronic banking, and believe our delivery of TransPoint will help attract many new customers to InterWest," said Clark W. Donnell, executive vice president and chief administrative officer of InterWest Bank.
With 60 clients on board, First Data Direct Banking has already exceeded its goal of adding one new client per week this year.
"With its selection of NetPrecision Home Banking and TransPoint bill payment, InterWest Bank joins the leaders in online banking," said Randy Kahn, president of First Data Direct Banking. "Their participation as a TransPoint pilot bank will help move a key element of Internet banking forward and further demonstrates our commitment to bringing next-generation technology to our clients."
Through NetPrecision, InterWest will offer its customers online access to account balances and statement detail, fund transfers, stop payments and check orders. With TransPoint, the bank will enable its customers to receive and pay bills electronically.
TransPoint, formerly MSFDC, expects to introduce its end-to-end Internet bill delivery and payment service in early 1999. InterWest joins some of the largest financial institutions in the United States and a number of major billers who are already participating in the pilot program.
First Data Direct Banking's NetPrecision 30/30 Home Banking product, introduced in February, enables financial institutions to launch a secure, fully transactional Web site in just 30 days for an upfront cost of only $30,000.
About InterWest Bank
InterWest Bank is a subsidiary of InterWest Bancorp Inc., a Washington State-chartered bank holding company with headquarters in Oak Harbor.
InterWest Bancorp is currently the holding company for four banking subsidiaries: InterWest Bank, Pacific Northwest Bank, Pioneer National Bank and Kittitas Valley Bank N.A. InterWest Bank operates 40 branch offices throughout central and western Washington.
InterWest's total consolidated assets were $2.45 billion as of Sept. 30, 1998. InterWest Bank can be found on the Internet at www.interwestbank.com.
About First Data Direct Banking
First Data Direct Banking builds and hosts customized Internet financial service solutions for financial institutions of all sizes.
Using the NetSpeed process, financial institutions can have fully functional, branded Web sites up and running in just 30 business days with the NetPrecision system.
Los Angeles-based First Data Direct Banking ties leading-edge online financial services partnerships and template, custom-built or existing Web sites into transaction processing provided by electronic payments processing leader First Data Corp.
Direct Banking can be found on the World Wide Web at www.netprecision.com.
Atlanta-based First Data Corp. (NYSE:FDC) is a global leader in payment systems, electronic commerce and information management products and services. First Data and its principal operating units process the information that allows millions of consumers to pay for goods and services by credit, debit or smart card at the point of sale or over the Internet; by check or wire money.
For further information about First Data, visit the company on the Internet at www.firstdatacorp.com.
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CONTACT:
First Data Direct Banking, Los Angeles
Randy Kahn, 213/251-5444
or
InterWest Bank, Oak Harbor
Sue Riney, 360/679-4181
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