Jupiter: Banks will lose out to online brokerages

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Discount brokerage will dominate banks in the growing online market, according to research from Jupiter Communications released at its Financial Services Forum, in San Francisco Sept. 15. It predicted that discount brokerages would be the dominant financial portals and control more than 50% of all online personal finance activity by 2002. It also projected that online banking would reach 18% penetration of the banking market, while online trading would be done by 31% of the total investing market in the U.S.

Copyright September 1998, Crain Communications Inc.

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