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Technology Stocks : CheckFree (CKFR) -- Ignore unavailable to you. Want to Upgrade?

To: jjs_ynot who wrote (2154)	3/1/1998 1:15:00 PM
From: gdgoggin	Read Replies (2) \| Respond to of 8545

these are my thought regarding the online banking revolution. little long winded, but i have been saving them up for a while watching ckfr get beat up on. i have had enough. i live in new england and BankBoston is aggressively marketing online checking services. The service is free for most accounts. BankBoston pays checkfree $5 a month per customer that uses the pay online service. BB is trying to attract new business by offering this service. They are succeeding for there are many other banks in the area, but the other banks dont offer this service. BB has opened many new accounts recently. I have spoken in detail with the online people at BB. They are very busy. Many new accounts are opened every day. I feel checkfree will grow expotentially as more people use the system. People, clients and vendors will start recieving these online checks in the mail. They see them and think wow pretty neat i wish i could use something like that to pay my bills. They figure it is too expensive or too complicated. little do they know how easy it is. the more people who use the service the more people who will sign up for the service. the product markets itself. Also as people using online payees grows the vendors (electric, cable, gas) and banks will see how many of these checks they recieve and then work with checkfree to get paid by money transfers instead of hard copy checks. The vendors and banks will then begin to see the cost savings associated with online banking and do everything in thier power to move this process along including online billing. BB is also trying to develop their own financial software for customers to use. I figure that BB is trying to differentiate themselves from other banks which also offer online capabilities by having BB software which clients like and use. This is a smart move by BB to differentiate themselves for in the future every bank will offer online services, but is doomed to failure. a proprietatry banking software program might be great for accounts held within BB, but what about outside investments mortgages and so forth. Most people who use online banking are quicken users, and why would a quicken user move to a proprietary bank package that will not allow them to update their investments and other outside accounts. I dont think they will. Once a quicken user always a quicken user. Even if a better pfm was developed would quicken users switch? I dont think so. Humans are an creature of habit and if you are used to quicken why would you try and figure out a new software package especially when it is your money, finances and taxes you are playing with when you have no problem with your old quicken package. so checkfree and quicken users unite. Use the service always and often. do your part to jump start this online banking revolution. lets get the ball rolling. lets show wall street how much they know about online banking.