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To: TQR who wrote (6784)	8/13/1998 1:53:00 PM
From: micny	Respond to of 8545

.... My gut feeling says banks don't have any plan to build there own systems you're right, in the vast majority of cases they realize that, based on the experience of the former Manny Hanny, Chemical, and others, who built and operated their own systems, that a) they cannot achieve the scale they need to operate efficiently; b) they don't want to add the infrastructure to support the offering; and c) that the front end, not the "back-end" is the differentiator. Consequently it makes sense for them to make their front ends look and feel different from their competitors, but leave the back end services to someone who provides the best their is...CF. There will always be "egocentric" institutions like Citi that, even though they'll drain the coffers doing it, will insist on building and operating their proprietary system. They'll probably even come around one day like they did with the ATM. Citi, for instance designed and built their own ATMs, found them incompatible with networks, and thus were forced for along time to operate independently. Eventually they concluded that they were the last guy in the woods, gave up, transitioned to compatible machines, and joined networks.