Executives at Chase Manhattan Corp. say they have seen the future of consumer banking-and it isn't branches.

As other banking companies piece together sprawling multistate networks, Chase is tilting decidedly toward technology. Taking a cue from nonbanks like Fidelity Investments and Charles Schwab & Co., Chase is investing in mail, telephone, personal computer, and Internet distribution to serve and profit from its 32 million U.S. retail customers.

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