What's Next? Online Banks. This is not your father's checking account. Today's online business banking services do the work for you so you can get back to business as usual.
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Online banking started as and continues to be primarily aconsumer-targeted service, but the vital business banking sector isincreasingly becoming a focus for banks big and small. Ifyou're one of the millions of start-ups considering using anonline bank, it can be difficult to decide which one of the local,regional or national banks will be best. In the table below, wemake that choice a little easier by comparing and contrasting keyfeatures of the online offerings of some of the nation'sbiggest banks.
You'll see that you can do a lot of banking-probably farmore than you would imagine-using only your PC and an Internetconnection. And if you don't see what you need in the way ofonline access to banking services and information, be patient: JohnHagerty, vice president of e-business applications at Bostonresearch firm AMR Research Inc., says banks are preparing to offeronline services that simply couldn't have existed before theInternet.
Can you imagine a bank that not only handles your checkingaccount, but also supplies you with a third-party-hosted Web siteand e-commerce software? That's already here. Before long, saysHagerty, banks that find instant financing for your customers'e-purchases, using online credit auctions to make sure yourvaluable customers get the best deal available, will becommonplace. "This stuff is just starting," he says."Banks are realizing they can either be a commodity, or theycan help make markets. Those that have foresight are choosing tofacilitate commerce as opposed to just being there."