Building a brand: American Express has tied online banking to its already established Web site.(Statistical Data Included)

Advertising Age, August, 1999 by Cardona, Mercedes M.

Online banking is creating its own version of convergence in cyberspace.

Credit-card companies and electronic stock brokerages are competing with bricks-and-mortar banks to sell certificates of deposit and checking accounts to the plugged-in masses.

During the past month, American Express Co. and Bank One's First USA -- two of the country's largest credit-card issuers -- both launched online banks. Just weeks earlier, E*Trade, the nation's second-largest online brokerage according to U.S. Bancorp Piper Jaffray, announced a deal to buy Telebanc Financial Corp., the largest online bank according to Bank Rate Monitor.

Citigroup and Wal-Mart Stores are among the companies said to have e-banks waiting in the wings.

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