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IBM to unveil Internet banking alliance

>Date: Mon, 9 Sep 1996 11:20:03 -0400
>From: [email protected] (Joseph M. Reagle Jr.)
>To: [email protected]
>Subject: IBM to unveil Internet banking alliance
>	 SAN FRANCISCO (Reuter) - International Business Machines  
>Corp. <IBM.N>  has made an alliance with more than a dozen 
>major banks to provide consumer banking services using 
>Internet technology, IBM and industry executives said Friday. 
>	 The consortium will be dubbed Integrity and will be owned  
>equally by IBM and each of the partners. 
>	 Banks will be able to use IBM's worldwide private network  
>as well as the Internet to enable their customers to do their 
>banking electronically. Specific details of the banking 
>arrangement have yet to be worked out, one of the executives 
>	 IBM and the banking instititutions involved are due to  
>unveil the Integrity project in New York on Monday. 
>	 The alliance is one of several industry projects that  
>IBM's Internet Division is establishing to help large 
>companies utilize the Internet. 
>	 The banking alliance will have competition from other  
>electronic banking services being organised by companies like 
>Intuit Corp., America Online Inc. and Microsoft Corp. 
>	 Just this week, Intuit and America Online said a number of  
>leading financial institutions would offer their customers 
>online banking via AOL, using software developed by Intuit 
>known as BankNOW. 
>	 At an Internet and Electronic Commerce conference in San  
>Francisco this week, Intuit Chairman Scott Cook said the new 
>service targets people who want to use electronic transactions 
>to speed up their banking. 
>	 Cook said he expects the new service will differ from what  
>the IBM-led consortium might provide. 
>	 NationsBank has been among companies frequently mentioned  
>as participating in the IBM consortium, but a spokesman late 
>on Friday declined to discuss a Wall Street Journal report 
>that it would be involved in the consortium. 
Regards,            Nothing is so strong as gentleness, 
                    and nothing is so gentle as true strength. -Ralph Sockman
Joseph  Reagle      http://rpcp.mit.edu/~reagle/home.html
[email protected]      E0 D5 B2 05 B6 12 DA 65  BE 4D E3 C1 6A 66 25 4E