>>>On my way home I heard a Radio commercial for Wingspan.com. If Wells, First Union, and Chase aren't scared, they will be.
Yea...the three blind mice...yea haaaaaaaaaa!
Thursday July 1, 5:59 am Eastern Time
Company Press Release
Lycos and WingspanBank.com Announce $135 Million E-commerce Agreement
Provides Lycos' 30 Million Users a Better Way to Bank with WingspanBank.com
BOSTON, Mass. and WILMINGTON, Del.--(BUSINESS WIRE)--July 1, 1999--Lycos, Inc. (NASDAQ:LCOS - news), the fastest growing Internet portal and the world's largest online community and WingspanBank.com, the new powerhouse in personal finance, today announced a multi-year, e-commerce agreement, which can potentially generate up to $135 million for Lycos, if certain performance thresholds are met and the agreement runs to term. The agreement offers a wide array of financial products and services to Lycos users through the introduction of a Lycos/WingspanBank.com co-branded site.
Through this agreement, Lycos users will be able to access their checking accounts; pay bills online; apply for a variety of loans, including home equity loans and installment loans; make and manage investments; access a variety of financial planning tools; and scour Internet sources to find the best deals on mortgages and insurance.
The phenomenal growth of online banking is due, in part, to individuals searching for ways to simplify their lives to accomplish more in less time so that they can focus on the things that are important to them. The Lycos/WingspanBank.com agreement connects the audience reach of the fastest growing Internet portal with WingspanBank.com's comprehensive array of financial products and services all at one site. The inherent speed of the Web for information transfer will allow online users to easily and quickly integrate and manage diverse aspects of their financial transactions from a single, convenient desktop location.
''This is a powerful alliance, and we are thrilled to be putting the WingspanBank.com suite of financial services within easy reach of our audience,'' said Bob Davis, Lycos president and CEO. ''We think online banking is going to be an indispensable part of the modern lifestyle, and this agreement with WingspanBank.com will allow us to jointly offer powerful banking and financial tools to our users and communities, helping to build an even stronger affinity for Lycos going forward.''
''Our alliance with Lycos is an exciting step for both WingspanBank.com and in the development of online banking and financial services,'' said Jim Stewart, president and chief executive officer, WingspanBank.com. ''Because WingspanBank.com was created from a clean slate, unencumbered by the trappings of traditional banks, it harnesses the power of the Internet to provide online consumers -- Lycos users -- with what they want, when they want it, all in one place.''
About Lycos, Inc.
Founded in 1995, Lycos, Inc. is a leading Web media company and owner of the Lycos Network, one of the most visited hubs on the Internet reaching one out of every two Web users. The Lycos Network is a unified set of Web sites that attracts a diverse audience by offering a variety of services, including leading Web navigation resources, homepage building and other Web community services and a comprehensive shopping center. The Lycos Network is composed of premium sites: Lycos.com, Tripod, WhoWhere, Angelfire, MailCity, HotBot, HotWired, Wired News, Webmonkey, Suck.com and MyTime.com. Lycos.com (http://www.lycos.com), ''Your Personal Internet Guide,'' is dedicated to helping each individual user locate, retrieve and manage information tailored to his or her personal interests. Headquartered near Boston in Waltham, Mass., Lycos, Inc. is a global Internet leader with a major presence throughout the U.S., Europe and Asia.
About WingspanBank.com.
WingspanBank.com (www.wingspanbank.com) is a subsidiary of Bank One Corporation (NYSE:ONE - news). WingspanBank.com is the new powerhouse in personal finance, offering consumers unparalleled freedom and choice in managing their money. WingspanBank.com provides consumers with a wide range of financial products and services brought together at one website, including traditional banking, investment and planning services, and objective search tools.
Note to Editors: Lycos® is a registered trademark of Carnegie Mellon University. All other product or service marks mentioned herein are those of Lycos or their respective owners. All rights reserved. |