Philadelphia Banker out to Prove Local Is Better

Epstein, Jonathan D., American Banker

Ken Tepper wants to prove Bill Gates wrong.

The 33-year-old banker is tired of hearing the Microsoft computer mogul proclaim that banks are dinosaurs that will be replaced by computer software.

"Bill Gates may know how to write software," said Mr. Tepper, but "he doesn't know how to underwrite credit, he doesn't take deposits, he doesn't make loans, and he's not insured by the Federal Deposit Insurance Corp.

"The future of banking in America is not with Bill Gates or any other fly-by-night approach to get rich quick through some computer program or on-line service."

In fact, Mr. Tepper has his own theories about the future of community banking and its use of technology - and he's eager to test them out.

With the backing of some of Philadelphia's most powerful and prominent business leaders, the former regulator and investment banker has set his sights on an established, pristine Philadelphia savings bank, from which he hopes to launch a technologically advanced, super community banking company.

Under the auspices of a new holding …

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Publication information: Article title: Philadelphia Banker out to Prove Local Is Better. Contributors: Epstein, Jonathan D. - Author. Magazine title: American Banker. Volume: 160. Issue: 174 Publication date: September 11, 1995. Page number: 12. © 2009 SourceMedia, Inc. COPYRIGHT 1995 Gale Group.

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