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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: TLindt who wrote (80)	3/11/1998 11:50:00 AM
From: Peter Mui	Read Replies (2) \| Respond to of 2414

>> "As of June 1997, we projected that an estimated 7 percent of U.S. >> banks( 3 percent sampling error\3 ) offered on-line banking >> services, which most typically allow customers to access account >> information and transfer funds between their accounts. Thanks for the info. I wanted to clarify the "on-line" portion of the statement from the GAO. Many banks offer proprietary on-line services for their customers. For example, our company uses Chase on-line software and Citibank on-line software. This software consists of a dial-up routine and a Windows 3.1 compatible program that calls into the bank's own computer network. Both banks are on closed systems. As far as I know, Netbank is the only bank that is available openly on the internet. Regards, Peter

To: TLindt who wrote (80)	3/12/1998 7:31:00 AM
From: Les White	Read Replies (1) \| Respond to of 2414

Thanks for posting the GAO report link. Security appears to be their biggest concern. It looks like banks are so afraid of bad publicity that it is almost impossible to find out about breeches of security. And, of course, you never hear about it from the customer. I doubt that would be the case with an internet bank. One foul up and you've got someone creating a web site about it. It can eventually get enough publicity to make into some main stream media. This happened to Iomega. Didn't seem to hurt them too much. Online banking might be more vulnerable to this type of smear tactic, though. Edify provides the software for AIB and I believe NCR operates the site at their facilities. I hope they have done their homework on security systems. Any software engineers care to comment? Les

To: TLindt who wrote (80)	3/12/1998 9:46:00 PM
From: Thomas Murphy	Read Replies (2) \| Respond to of 2414

My banks been offering on-line service for 6 months (Bank of America)...But they can't offer 4% interest on standard checking, 5.5% on Cd's and money market accounts, cheaper loans etc....To much brick and mortar....If full-service Internet banking is a success...for AIB and the few that follow...the big boys will find there way in if they want to...but thats down the road. AIB will find its niche and should be firmly established, and at that point it will be just another bank stock....pretty darn profitable. I really don't think Citicorp and the like are worrying about losing business to AIB. Don't sweat the article.