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... com was launched on June 24, 1999, under the auspices of the First USA division of Bank One as a free-standing Internet bank. ... com started with a strong footing, performance slowly tapered off. ... ATTRACTIVENESS OF INTERNET BANKING INDUSTRY
In accessing the attractiveness of internet banking industry for major banks like Bank One in the late 1990s, we will need to consider both the general and competitive environment in the United States. ... Its appeal can be attributed to increasing consumer demand for online banking especially among adults aged below 35; huge bank recognition and capital that can be leveraged by traditional banks; tremendous potential for strategic alliances with the best service providers and vendors; the mutual prestige that comes along with it; and the cost savings to be enjoyed from the substantial economies of scale and scope in data storage and data processing. ... In addition, non-bank firms ¡X financial and non-financial ¡X will increasingly compete with banks for their most valuable customers.
Approximate Word count = 1093
Approximate Pages = 4.4
(250 words per page double spaced)
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