CBS MARKETWATCH MENTION HERE cbs.marketwatch.com
By Brenon Daly, CBS
MarketWatch
Last Update: 4:11 PM ET Apr 13,
1999
Movers & Shakers
Market Snapshot
MALVERN, Pa. (CBS.MW) -- Shares of Sanchez
Computer Associates more than doubled, up 48 to 79 7/8,
on volume 40 times average Tuesday after the company
showed its electronic banking software at a trade show.
The company (SCAI: news, msgs) makes
software for financial service firms, and
also has a division to handle transactions
on an outsourced basis.
Charles Robins, head of technology
research for Pennsylvania Merchant
Group, said the company is benefiting
from displaying its product the BAI
Internet Banking Conference in Atlanta.
The trade show marked first time the
company demonstrated its e-Profile
service, which it launched in February.
E-Profile allows banks to turn over their
Net banking operations to Sanchez.
The service center for e-Profile is set to
open at the end of the month. That
"certainly sets the stage" for Sanchez to
sign up financial institutions in May, said
Kathy Knaub, the communications
manager for the Malvern, Pa.-based
company.
Knaub added that Sanchez is looking to ink deals with
software companies to bolster its e-banking offering.
Online banking has taken off as customers look for the
convenience of round-the-clock banking. Financial
institutions like the prospect of letting customers bank
online, as it is less expensive then face-to-face transaction.
Other makers of electronic banking software also rose.
Security First Technologies (SONE: news, msgs) jumped 19
to 131, and has now doubled over the past month. Edify
(EDFY: news, msgs) jumped 8 1/16, or 208 percent, to
11-15/16.
Security One has a market capitalization of $1.4 billion,
which is twice the market capitalization of Sanchez. |
