Academic journal article ABA Banking Journal

Online on Horizon?

Academic journal article ABA Banking Journal

Online on Horizon?

Article excerpt

Despite the attention garnered by Internet banking, a recent study by the comptroller of the Currency (OCC) shows that as of June 30, 1998, less than 5% of commercial banks and less than 7% of national banks had transactional Web sites.

Because of the relatively high number of large banks offering Internet banking, however, Internet accessible banks account for almost 40% of commercial bank assets and over 60% of national bank assets.

The agency's systematic look at the Internet confirmed some intuitive notions, namely that large banks are more likely to offer transactional services such as balance transfer, balance check, and billpay. In fact, the survey showed that 27 large banks, accounting for over 42% of all commercial banks in the $10 billion asset-size category offered such services.

Measured by assets or deposits, transactional Internet banks as a group were about 15 times larger on average than the 8,069 banks which did not offer transactional services. (Still, the fixed costs associated with Internet banking do not appear to be prohibitive for small institutions. …

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