First Tenn. to Tout Online Resources' Software
McLEAN, Va. - Online Resources and Communications Corp. has signed an agreement to have Money Belt, First Tennessee Bank's regional ATM network, promote Online Resource's software to its 250 correspondent banks.The two companies will put together mailings targeting the financial institutions' clients and will hold forums to update users on new products and services from Online Resources, said Harvey Abelson, Online's managing director of alternative delivery.
"I think all banks are going to be looking for additional delivery methods to reach their customers and prospects, and the Internet appears to be a way to equip them to compete effectively," said Robert G. Heard, senior vice president in the financial institutions division of Money Belt. "We hopefully have done some of the legwork for them in analyzing the vendors and selecting Online Resources."
Citigroup Veteran Joins Electronic Biller
PRINCETON, N.J. - Paytrust Inc., a provider of consumer electronic billing and payment services, has hired Jack Paladino to be chief operating officer.Mr. Paladino was a business manager at Citigroup Inc., where he developed corporate electronic bill presentment and payment services. He also managed Citibank's credit card operations.
Edward G. McLaughlin, chief executive officer of Paytrust, said Mr. Paladino's responsibilities include managing subscriptions.
The company said it has handled more than 200,000 consumer bills since it was founded in October 1998.
Web Banking Vendor Eyes Online Shopping
CAMBRIDGE, Mass. - Users of the Internet banking software provider Digital Insight Inc. soon will be able to offer their customers online shopping through a joint venture it has established with Iconomy.com, the companies said.The partners said they will open their online store next month. Financial services are among the planned offerings, along with books, videos, software, electronics, and travel accessories.
Iconomy's merchandising team is working with Calabasas, Calif.-based Digital Insight to customize products. Plans for the venture include account aggregation and promotional tools such as coupons and gift certificates.
Gay Network Begins Print, Web Ad Drive
NEW YORK - Gfn.com, the Gay Financial Network, has begun a national advertising campaign in mainstream media as well as in outlets specifically for gays and lesbians.Ads for the site are running in The Wall Street Journal, Entertainment Weekly, Time, Newsweek, People, and U.S. News & World Report. Gfn.com is also advertising nationally in gay and lesbian weekly newspapers and in gay magazines. The regional print lineup includes Business Week, Fortune, Money, Mutual Funds, Kiplinger's Personal Finance; $1 million was earmarked for ads to be posted on gay and financial Web sites.
The campaign, featuring a gfn.com "cigar man," was created by the Mad Dogs & Englishmen ad agency of New York. Cigar-man T-shirts are to be distributed at gay-pride festivals.
Women's Finance Site Adds E-Trade Alum
REDWOOD CITY, Calif. - Debra Chrapaty, former chief technology officer of E-Trade Group Inc., has joined the board of directors of the Women's Financial Network Inc., an online brokerage. "At E-Trade, I had the opportunity to blaze new ground," Ms. Chrapaty said. "That's exactly what I intend to help WFN do."Ms. Chrapaty recently left E-Trade to become president and chief operating officer of BigVine.com, a marketplace for businesses to barter their excess inventory in exchange for goods and services.
She joined E-Trade in 1997 after a stint as chief information officer of the National Basketball Association.
WFN's board also includes Jennifer Openshaw, its founder and chief executive officer, and Hussein Enan, chairman, president, and CEO of Insweb.