Financial Services Industry
Industry: Email Alert RSS FeedCitibank Makes All-Out Push for Home Banking, Yet Questions Loom on Customer Demand.
Bank Systems + Technology, September, 1998 by Orenstein, Alison F.
IN AN ON-LINE BANKING MARKETING blitz, Citibank aims to lure 1 million new customers from the nation's estimated 26 million Internet-connected households by year-end.
Industry analysts, however, questioned if there's enough consumer demand for on-line banking for Citibank to reach such a target in that time frame.
To kick off its campaign, Citibank deployed 100 "Citibankers" on bikes to give away 40,000 home-banking CD-ROMs in Manhattan. Some of the peddlers rolled up to branches of rival Chase Manhattan Bank to hand out the CD packages, imprinted with the image of singer Elton John, whose world tour Citibank is sponsoring.
The CDs contained Citibank's Direct Access PC/Internet banking software, bank product/service information and games...
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