First Tennessee Bank and Sprint announce launch of smart phone home banking

Business Wire, Sept 28, 1995

MEMPHIS, Tenn.--(BUSINESS WIRE)--Sept. 28, 1995--Officials of First Tennessee Bank and Sprint announced the market launch of their smart phone home banking and transaction services to consumers in Tennessee.

First Tennessee and Sprint recently signed an agreement which provides customers who have a First Tennessee First Check(SM) Card access to a portfolio of home banking services such as automatic bill payment, account balance checking and funds transfer. Sprint is providing access to these services through the PhonePlus(TM) smart telephone, developed by U.S. Order. The PhonePlus features a keyboard, speaker phone, "soft" key buttons that work like an automatic teller machine (ATM), and an enlarged screen display.

"This smart phone allows us to serve our customers and meet their banking needs in one more way -- this time from their homes," said Susan Terry, vice president and marketing information manager for First Tennessee. "We know that people are looking for choices in how they deal with their bank. Our goal is to be as convenient as possible through our many branches and ATM locations, our products and our home banking services."

The phone and its services are now available to the public.

"We conducted customer tests of the services to help us define and understand the services our customers want and need," said Warren Sanders, public affairs manager for Sprint/United Telephone. "We feel confident that the portfolio we're offering will give them more control and convenience in their communications and banking transactions."

In addition to the home banking services, the PhonePlus smart phone also offers access to a variety of transaction services offered by Sprint. QuickShop(SM) allows the customer to use the smart phone keyboard and credit card reader to automatically order from any catalog in the United States. FastFind(SM) allows customers access to a national directory assistance to locate virtually any listed phone number and address in the country. The SureData(SM) feature provides data back-up in case of power outage or lightning strike.

The smart phone also offers customers easy, one-button access to enhanced telephony features such as Call Waiting, Caller ID and Call Forwarding after they've signed for the services with their local phone companies.

"We've made a conscious effort to provide phones which complement and enhance our services," said Sanders. "This smart phone certainly does that by making it very easy to access telephone services."

"This smart phone offers so much convenience to people who have less free time to spend on banking matters," said Terry. "You can even talk on the phone while you're paying your bills or transferring your funds. Plus, there's a greater sense of security when you use the smart phone because it requires a unique password and, of course, you're in your own home."

First Tennessee Bank is a subsidiary of First Tennessee National Corp., the 60th largest bank holding company in the United States, which reported total assets of $11.6 billion and shareholders' equity of $826.8 million at June 30, 1995. The corporation's common stock is traded over the counter on The NASDAQ Stock Market under the symbol FTEN.

Sprint's Local Telecommunications Division is part of Sprint, a diversified international telecommunications company with more than $12.6 billion in annual revenues and the United States' only nationwide all-digital, fiber-optic network. Its divisions provide global long distance voice, data and video products and services, cellular services to more than 1 million customers in nearly 100 cities in 14 states, and local telephone services to more than 6.5 million subscriber lines in 19 states.

CONTACT: First Tennessee National Corporation, Memphis

Susan Terry, 901/523-4131

Kim Cherry, 901/523-4726