Citibank to expand electronic banking services with Prodigy; co-marketing relationship brings Citibank's free banking services to Prodigy subscribers

Business Wire, Jan 29, 1996

Company today announced an electronic banking and marketing agreement with Citibank, one of the nation's leading providers of home-banking services.

Offered to Prodigy subscribers in the New York metropolitan area, the deal brings together two pioneers in online banking and the largest providers of electronic-banking services in their respective fields. Citibank has been offering PC banking since 1984 and Prodigy has been providing home banking to consumers since 1988 and has relationships with more banks than any commercial online service.

Citibank will offer a free and direct link to its electronic home-banking service to Prodigy subscribers and will also offer Prodigy software through its branches. The agreement represents the first time that Citibank has expanded access to its proprietary PC Banking service through a commercial online service.

Effective immediately, Citibanking on Prodigy is available to Prodigy subscribers at no extra fee throughout the New York metropolitan area. Citibank currently offers the most robust online banking service -- including electronics bill payment -- for free. To encourage Citibank customers to try online banking through Prodigy, free Prodigy software will be made available at local Citibank branches.

"In the world of banking, Citibank is a thoroughbred," said Prodigy president and CEO Ed Bennett. "Its addition to Prodigy's online banking line-up is great news for our subscribers, who now have access to one of the premier and trusted names in American banking."

Citibanking on Prodigy offers a full range of banking services. Customers can check their account balances, transfer money between accounts, pay bills electronically, review their Citibank credit card account and buy and sell stock through Citicorp Investment Services. Citibank and Prodigy allow customers to explore the wide array of services using an interactive, hands-on demonstration.

"Expanding access to our free PC banking service enables us to deliver on our promise to customers -- total access to one's money anytime, anywhere, any way you choose. That's the core of the relationship Citibank develops with its customers" said Frank Liddy, vice president, Electronic Banking at Citibank in New York. "Prodigy's track record in both the online industry and in providing electronic banking services made it Citibank's choice to help us make PC banking more accessible to more customers."

Citibank is a subsidiary of Citicorp. There are about 1,200 Citibank branches in 42 countries around the world.

Prodigy offers its customers access to the largest selection of electronic banks -- 17 -- in the online industry. Prodigy's banking partners include Barnett Bank, Banc One Corp., Boatmen's National Bank, Citibank, Chemical Bank, Chevy Chase Savings Bank, Comerica Inc., First Interstate Bank of Denver, Meridian Bancorp, Delaware Trust, NBD -- Chicago, NBD--Detroit, Wells Fargo, First Pennsylvania, Midlantic, Hamilton, and Wilmington, PNC.

Prodigy, a partnership of IBM and Sears, markets the Prodigy service, the most recognized brand name in the online industry. Prodigy offers its more than two million members a range of news, weather, sports, and financial information, as well as educational content, games, reference materials, e-mail, bulletin boards, World-Wide Web access, USENET newsgroups, real-time Chat, file download libraries, travel reservations, shopping, a discount brokerage and online banking.

CONTACT: Prodigy

Mike Darcy, 914/448-8846

e-mail: darcy(at symbol)prodigy.com

or

Citibank

Maria Mendler, 212/559-0409