Online Banking Report Names Charter One Bank as Innovator of the Year

Business Wire, Jan 30, 2003

Business Editors

SEATTLE--(BUSINESS WIRE)--Jan. 30, 2003

Financial Insite announced that Charter One Bank's triggered alert system has been named the Innovation of the Year.

The Cleveland-based bank was cited for excellence in the year-end issue of Financial Insite's industry newsletter, Online Banking Report.

Editor Jim Bruene said, "Charter One is our hands-down winner for 2002 with its pioneering fyiAlerts, a triggered alert service that sends messages about balance levels or account activity. While triggered messages have been used in the financial services industry for more than 5 years, Charter One raised the bar by offering a choice of email, fax, or automated voice messages."

It was the fourth time in eight years that a retail bank topped Online Banking Report's Top 10 Innovations list. Previous bank winners include BayBanks (now FleetBoston) in 1996, Bank of Montreal in 1997, and Citibank in 2000.

About this Report: The 20-page report, "2002 in Review," takes a look back at the best online banking innovations since 1995. It also provides predictions for the coming year along with a review of holiday email messages from financial institutions. The report is free to subscribers and $100 for all others.

Companies mentioned: Beneficial Finance (Household International), Charter One Bank, DeepGreen Bank, Everbank, FedEx, ING Direct, JPMorgan Chase, ModemMedia, NYCE (First Data Corp.), Patelco Credit Union, PayPal, PeopleFirst Finance (Capital One), QSpace (Experian), ShareBuilder (Netstock), Wells Fargo, Yodlee.

About Online Banking Report

Former banker Jim Bruene founded Online Banking Report in 1994. The monthly report, with subscribers in more than 50 countries, provides analysis, ideas, and data to support executive decision-making. Information and samples are available at www.onlinebankingreport.com, 206/517-5021, or info@onlinebankingreport.com.