news item on Atlanta bank

from:
  [http://netday.iworld.com/news1.shtml]

  news@iworld.com
  
  "CyberBank" Opens for Business
  
  [October 18] -- Atlanta Internet Bank reports its
  cyberdoors are open for business as the world's first
  Internet-only bank.
  
  Currently available to AT&T WorldNet Service
  subscribers, Atlanta Internet Bank's initial products
  include interest-bearing checking accounts, direct
  deposit, electronic bill payment, account transfer
  capability, and ATM cards.
  
  The bank has announced the launch of its "anytime-
  anywhere" service with special interest rates on
  money market accounts. For a limited time, Atlanta
  Internet Bank is offering 7% interest (annual
  percentage yield of 6.18%) on NetVantage money market
  accounts to WorldNet subscribers.
  
  "This is the beginning of a new era in financial
  services," said Atlanta Internet Bank President Don
  Shapleigh. "We're using bits and bytes instead of
  bricks and mortar and passing the savings on to our
  customers. This will allow us to maintain very
  competitive rates after the introductory
  rate offer expires."
  
  Future services planned by the new bank include loan
  products, brokerage services, IRA accounts, and
  credit and debit cards.
  
  "Atlanta Internet Bank has taken a giant step into
  the electronic commerce marketplace," said Jeffrey
  Feldman, AT&T's Advanced Network Solutions vice
  president. "AT&T's Advanced Network Solutions team
  firm believes that banks and other financial service
  providers will win customer loyalty by offering their
  own branded, electronic environments that deliver
  real value to end users--just as Atlanta Internet
  Bank has demonstrated."
  
  Atlanta Internet Bank's services are provided through
  Carolina First Bank, Greenville, S.C., a wholly owned
  subsidiary of Carolina First Corporation.with
  multiple providers to achieve our strategic goals."

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P. J. Ponder wrote ...
>   from:
>   [http://netday.iworld.com/news1.shtml]
> 
>   news@iworld.com
>   
>   "CyberBank" Opens for Business
>   
>   [October 18] -- Atlanta Internet Bank reports its
>   cyberdoors are open for business as the world's first
>   Internet-only bank.

Security First Network Bank officially opened just over one year ago
(they had their one year anniversary this past Thursday).
SFNB actually had been on-line about 4 months before that
(I helped with their security when I was with a different company).
SFNB was the first Internet-only bank.

SFNB is planning on opening some bricks + mortar branches which
means that, technically, AIB's press release may be correct
(only "Internet-only" bank), but it will be a couple of months 
before AIB is actually on the Internet. According to local 
newspapers AIB is only available through AT&T's
network - it will be a couple of months before they are on the Internet.

>   Currently available to AT&T WorldNet Service
>   subscribers, Atlanta Internet Bank's initial products
>   include interest-bearing checking accounts, direct
>   deposit, electronic bill payment, account transfer
>   capability, and ATM cards.
>   [...]


-- 
Nicolas Hammond                                 NJH Security Consulting, Inc.
njhm@njh.com                                    211 East Wesley Road
404 262 1633                                    Atlanta
404 812 1984 (Fax)                              GA 30305-3774