Online Banking: The Coming Revolution

Cyber Dialogue estimates that 7 million surfers, or 11% of users, bank online today. Many offline banks have yet to open for Net business. The American Bankers Association estimates that only 6% of the 9,000 U.S. consumer banks offer online banking. But increased competition - from online brokerages, portals, you name it - has banks on the move. Gomez Advisors says 39 of the 100 largest consumer banks now offer Internet bill payment, up from 17 a year ago. IDC predicts a flood of banks will sign up with online-banking-software vendors in 1999 in order to open their digital branches.