Bank One, Chicago, and its First USA credit-card branch, Wilmington, Delaware, are set to launch an ambitious Internet bank under a new brand. Bank One is doing final computer-systems tests before launching the venture. The move is intended to give Bank One a national Web-based financial-services offering distinct from Bank One's bricks-and-mortar operation in the Midwest. The bank's products and services are expected to be broader than those of Web bank rivals, such as Telebank, which is being acquired by eTrade. First USA already has a strong Web presence; the Internet Advertising Bureau last week named it Marketer of the Year.
Copyright June 1999, Crain Communications Inc.