Magazine article American Banker

On-Line Forum Offers Internet Commerce Exchange

Magazine article American Banker

On-Line Forum Offers Internet Commerce Exchange

Article excerpt

Global Concepts Inc., an Atlanta-based consulting firm, has created an on- line forum to let bankers and vendors swap electronic commerce war stories and exchange ideas.

"I wish I could say the goal of the group was to develop a standard or some great technology, but it's not," said David C. Stewart, a Global Concepts consultant who moderates the Financial Services Internet Forum.

"It's just an open information exchange among bankers to discuss their experiences using the World Wide Web to sell and implement their services."

Talk, in this case, is not cheap. Membership costs $4,750, entitling a bank to attend three consortium meetings and receive three research reports.

The 20 bank members include Chase Manhattan Corp., CoreStates Financial Corp., Crestar Financial Corp., NationsBank Corp., Norwest Corp., and PNC Bank Corp.

Nonbank sponsors include Checkfree Corp., Cybercash Inc., Microsoft Corp., Visa International, MasterCard International, Verifone Inc., and Sun Microsystems Inc.

"What has been most interesting and valuable to me has been being able to hear some of the trials and tribulations other banks are going through, and being able to share and understand potential solutions," said Linda A. Weber, senior vice president of electronic commerce at CoreStates.

Ms. Weber said CoreStates will "absolutely be a player" in Internet banking and is benefiting from others' advice.

"I haven't felt any reluctance on the part of those colleagues that are further ahead of us," she said. …

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