Magazine article American Banker

Citibank's PC Service Available Via Prodigy

Magazine article American Banker

Citibank's PC Service Available Via Prodigy

Article excerpt

Spreading its marketing wings in cyberspace, Citibank announced Monday that its computerized home banking services are available through Prodigy.

The bank's customers in the New York area can use the commerical on-line service to view account information, pay bills, and buy or sell stocks via their personal computers. In keeping with Citibank's aggressive approach to pricing (see page 6), the banking service will cost Prodigy users nothing beyond what they pay for basic network access.

Prodigy, which is owned by International Business Machines Corp. and Sears, Roebuck and Co., is the smallest of the three major on-line networks, with about two million PC-owning subscribers. But it claims more bank participants than America Online or H&R Block's Compuserve, which each exceed four million subscribers.

Citibank joins Barnett, Chemical, Wells Fargo, and 13 others on Prodigy's bank list.

The principal subsidiary of Citicorp has been marketing a PC service for more than a decade, but never before through a commercial on-line service.

Citibank is now pursuing a "virtual banking" strategy employing multiple delivery channels. It is also planning to allow on-line account access to PC users through Intuit Inc.'s top-selling personal finance program, Quicken. And it makes banking services available on computerized telephones with small display screens.

The latest alliance brings together two pioneers that have had their share of struggles in the interactive services market. …

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