November 2, 2000 |
Two of the biggest banks in America and IBM Corp. are setting up a new, electronic processing system that could greatly reduce bank costs in handling paper checks. The system, known as Viewpointe Archive Services, also will make it possible for consumers to get copies of their checks from Web sites and automated teller machines maintained by banks. The system--launched by Bank of America Corp., headquartered in Charlotte, N.C.
August 14, 2000 |
With a population smaller than Greater Los Angeles, Finland leads the world in electronic banking, surpassing such financial powerhouses as the United States, Germany and Japan. But by embracing technology to bridge the vast distances across which Finland's 5.4 million residents are scattered, a Nordic banking consortium has sprinted ahead of the big players and set a standard for service and security that more weighty competitors will need years to match.
August 6, 2000 |
Two years ago, Internet-only banks vowed to swim circles around traditional financial institutions, which the virtual crowd predicted would sink under the weight of old-fashioned branches and costly infrastructure. Today, it is the branchless banks that are barely treading water. Despite offering substantially higher rates on deposits, budding Net-based banks as a group have scraped together little more than one-tenth of 1% of the nation's bank deposits.
January 18, 2000
Alfred Zipf, 82, Bank of America executive considered the father of electronic banking. In a four-decade career with the bank, Zipf rose from a Los Angeles transit clerk sorting checks by hand in 1935 to senior administrative officer in charge of the California branch operation and computer system in 1976.
CALIFORNIA | LOCAL
November 30, 1999
Internet banking companies Digital Insight Corp. in Calabasas, and nFront Inc. in Atlanta, have signed a definitive agreement to merge in a stock-for-stock exchange of .579 shares of Digital Insight for each share of nFront. The equity value of the transaction to nFront shareholders is about $439 million. The company will operate under the name Digital Insight with headquarters in Calabasas.
CALIFORNIA | LOCAL
October 7, 1998 |
While the concept of the ubiquitous bank branch may be going the way of the Pony Express, banking and economics experts predict that most San Fernando Valley consumers will still have ready access to cash and services. Eleven Washington Mutual branches in the Valley and nearby communities are scheduled to close by mid-1999 as a result of that company's acquisition of H. F. Ahmanson & Co., parent of Home Savings of America.