First Data Direct Banking Signs One New Client per Week as Internet Gains Momentum

Business Wire, August 19, 1998

LOS ANGELES--(BUSINESS WIRE)--Aug. 19, 1998--

Innovative, Award-Winning Bank, Credit Card and Brokerage Web

Sites are Based on Direct Banking's NetPrecision Platform

Financial service innovators have been signing up for First Data Direct Banking's NetPrecision Home Banking and Card Services at a rate of more than one per week since the company's groundbreaking "30/30" product was introduced in February, company President Randy Kahn said Wednesday.

The provider of Internet financial service solutions recently signed its 38th client since launching its NetPrecision service.

"The pace at which we're bringing new customers online has accelerated as banks, savings and loans, credit unions and brokerages have come to recognize that their customers want home banking," Kahn said. "We're gratified that so many have chosen First Data Direct Banking as their single-source vendor for those services."

In addition to building transactional Web sites for banks, First Data Direct Banking develops Internet solutions for credit card providers and brokerages.

Among First Data Direct Banking's clients are NextCard, the First True Internet VISA, whose site was recently recognized by Online Banking Report as the best financial services Web site; Alliance Capital, which recently announced plans for its innovative e-commerce solution; and Amarillo National Bank, recently ranked as one of the nation's top 20 Internet banking sites.

All enjoy the high-quality transaction-processing capabilities and industry-leading security offered on the NetPrecision platform.

First Data Direct Banking's recently trademarked NetSpeed implementation system has also played a role in the company's successes. NetSpeed streamlines and simplifies the complex tasks required to integrate secure, reliable banking transactions with a bank's data to complete a fully transactional Web site in just 30 business days.

About First Data Direct Banking

First Data Direct Banking builds and hosts financial service World Wide Web sites for all sizes of financial institutions. Using its existing service as a template, financial institutions can have fully functional, branded Web sites up and running in just 30 business days with the NetPrecision system.

First Data Direct Banking ties leading-edge online financial services partnerships and template, custom-built or existing Web sites into transaction processing provided by electronic payments-processing leader First Data Corp. Direct Banking can be found on the World Wide Web at www.netprecision.com.

Hackensack, N.J.-based First Data Corp. (NYSE:FDC) is a global leader in payment systems, electronic commerce and information management products and services. First Data and its principal operating units process the information that allows millions of consumers to pay for goods and services by credit, debit or smart card at the point of sale or over the Internet, or by check or wire money.

For more information about First Data, visit the company on the Internet at www.firstdatacorp.com.

CONTACT: First Data Corp., Los Angeles

Randy Kahn, 213/251-5444

Bob Dixon, 213/251-5441