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To: zuma_rk who wrote (3583)	3/9/1999 3:52:00 PM
From: Benny Baga	Read Replies (1) \| Respond to of 20297

OCC: Internet Banking Picking Up electronicbanker.com The number of banks and thrifts offering Internet banking are few but growing, according to a new study by the federal Office of the Comptroller of the Currency. The number of Web sites allowing online banking transactions grew from 103 by year-end 1997 to 258 by June 1998, says the OCC, a growth rate of more than 300%. It adds that electronic bill payment is available at the sites of three-quarters of these Web-enabled institutions. Despite the surge in Web banking, only about 4% of all banks and 6% of national banks now offer such services; trends suggest, however, that at least 15% of all institutions will offer transactional Internet banking by year's end, the agency says. Banks that offer Web banking account for 40% of all bank assets, with national banks at 61% of all national bank assets. And 27 banks with more than $10 billion in assets-42% of the total for that asset group-offer Web banking. Finally, the OCC study concludes that, although consumer acceptance of online banking is still low, 40% of banking customers have accounts at banks offering Internet services.