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Bank opens on Internet

Published on .

Security First Network Bank, the first bank branch on the Internet, opens Wednesday, allowing consumers to make deposits, pay bills and reconcile accounts, all online. The bank, a spinoff of Kentucky-based Cardinal Bancshares, claims its secure transaction technology, which creates an individual "bank vault" for each customer, will make online banking safe for consumers. Security First plans to license its technology to other banks, including Wachovia Corp., Huntington Bancshares and Area Bancshares Corp.

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