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

To: Mike Milde who wrote (1066)	11/12/1998 12:13:00 PM
From: Toby Zidle	Read Replies (1) \| Respond to of 2414

Granted that Bank One is just a traditional bank that now offers online banking. Granted that all large banks are doing that now. However, don't underestimate the competition. Bank One's deal with Excite is just a first step. Banks sponsor their local TV news with ads showing their internet URL. Traditional banks spend millions (that NTBK can't match) on full-page newspaper adds. Banks have a local presence at their Chambers of Commerce to get those local small business accounts. Traditional banks have faces to talk to, as well as local phone numbers. Further, just by the fact that we post messages here, we know of NTBK. But many millions of potential online customers have never heard of Netbank. They trust Bank One or other traditional banks. Many potential online customers are new to the net. If you search 'internet banking' on AltaVista, where is NTBK? Page 1 shows Rocky Mountain Bank, Bowling Green Bank, Turbotville National Bank (whoever they are!), and Arkansas National Bank. Where's NTBK? I'm not putting down NTBK. They're a good business with a growing customer base. But they have to be more aggressively in front of the public. With its Excite deal, Bank One is likely to add a million new customers before Netbank adds a million new accounts. All these other traditional banks that now also offer internet banking are chipping away at Netbank's future customer growth. Netbank is certainly not the only internet banking game in town. Starting with a smaller customer base, it well may be the fastest growing internet bank around, but a two percent gain for Bank One may be more people than a twenty percent gain for Netbank. What I said earlier is that there is big competition going on for internet bank customers. Labeling a bank as 'traditional' does not diminish the magnitude of competition.