Despite banks' and other financial companies' rapid embrace of Internet technologies, electronic commerce remains "conspicuous by its absence" from many of their sites, said the leaders of Diamond Technology Partners' financial services practice.

In a briefing written for the consulting firm's A Digital Bit newsletter series, Jay Kingley and Kevin Grieve observed that banks, in contrast to insurers and securities companies, "don't have to worry about displacing brokers" with on-line delivery systems. That factor plus low transaction costs have led banks to be "the quickest to embrace" e-commerce.

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