Magazine article American Banker

Driven by Competition, Home Banking Venture Revs Up for Marketing

Magazine article American Banker

Driven by Competition, Home Banking Venture Revs Up for Marketing

Article excerpt

After 18 months of development and testing, Interactive Transaction Partners says it is about launch a marketing push for its home banking products.

ITP, a joint venture of Electronic Data Systems Corp., US West, and France Telecom, was set up to create an independent platform for remote banking and bill payment services.

The venture has been building interactive services and working out kinks through testing in some banks. But with competition heating up in home banking, ITP now plans to move beyond testing.

The venture has "shifted gears into implementation," said Joe Brownsted, managing director.

ITP's platform is meant to let bank customers work with their accounts via touch-tone telephone, personal computer, or screen phone.

So far ITP has signed up only 10 financial institutions, including Salem Five Cents Savings Bank, Mesa County Teachers Federal Credit Union, the EDS Employee Credit Union, and a unit of Comerica Inc.

Massachusetts-based Salem Five will probably be the first institution to offer ITP services to all customers. It plans to do so sometime in the next couple of months.

Comerica will probably start its own rollout by August or September, Mr. Brownsted said.

Some institutions, like Salem Five, will offer only select services. Salem will offer touch-tone and PC-based banking.

Others, like Comerica, intend to offer the whole electronic- services smorgasbord in different regions.

The departure in November of ITP's president and chief visionary, J. …

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