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

To: Lord Data who wrote (122)	3/19/1998 11:05:00 AM
From: Les White	Read Replies (1) \| Respond to of 2414

>>Could someone post a summary<< I'll try. Surely you have noticed what is happening with the stock brokerage services. The web brokers have brought down the transaction costs and robbed customers from the traditional brokerage houses. Banking services are next. I posted transaction costs earlier so you can see that the typical transaction is 100 times cheaper for the internet bank than a traditional bank. No buildings, far fewer employees, lots less overhead. Lower cost structure allows internet banks to offer better rates and still make a profit. Better rates will rob customers from the traditional banks just like it's doing in the stock brokerage industry. AIB is the first pure internet bank. All others are traditional banks with internet or PC banking add on services. These banks still have that big overhead to cover. And they can't be too competitive with themselves or they'll just alienate their own customers. Internet banks can offer better services also. Electronic bill paying, loan applications, etc. Electronic bill presentment and payment is coming down the pike also. Note that NTBK is a holding company which owns most of AIB, Carolina Bank is the other major shareholder which brought the company public Aug 97. Look for insurance and other financial offerings in the future. AIB is on the right track. Using proven software, proven back end processing, small team of experienced banking management. Not trying to reinvent the wheel, just using what is working and applying it successfully. AIB is a leader in an emerging industry. Is expected to go positive this Q. That's pretty fast considering it has been operating less than 1 year. Welcome aboard, should be an interesting ride. Les