Business Services Industry
Chase switches on point-and-click service; online banking for retail customers challenges Citibank. (Chase Manhattan Bank)
Crain's New York Business, June, 1997 by Messina, Judith
Online Banking for retail customers challenges Citibank Chase Manhattan Bank's launch of a new on-line banking service marks the latest volley in the intense local battle for retail customers aimed right at Citibank. It is the first challenge to Citi's dominance here in electronic banking and adds a new dimension to the retail banking wars as the two giants now vie for the title of the "most on-line" bank in New York.
Chase Online Banking debuted recently after an 18-month overhaul of an existing 10-year-old product. Chase, which says it has signed up 40,000 customers since the launch, will still have to hustle to close the gap With Citibank. Citi has 12% of the nation's on-line banking households, compared With Chase's 4%, according to a survey by Jupiter...
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