A year dedicated to proving relevance
January
Citi f/i, Citigroups Internet-only bank, offers incentives for customer referral
Moodys says the Internet will not affect profits at U.S. banks
E-Trade Group buys Telebanc Financial Corp., operator of online Telebank
ATM deployer Momentum Cash Systems introduces Internet-only bank
February
Claritybank.com announces plans to open with a low-price business model
Internet-only USABancshares.com says it has opened 11,000 accounts
Bancointernet.com bows Net-only bank for U.S. Hispanics
Aerobank.com wins OCCs OK for Net-only small-business bank.
March
Internet-only Claritybank.com opens for business
Compubank shifts attention to the business-to-business market.
NetBanks president unveils a customer retention package
Bank One CEO James Dimon says he wont sell Wingspanbank.com
April
E-Trade Group opens Internet-only E-Trade Bank, formerly Telebank
CompuBank will sell e-banking technology to GE Capital
Wingspanbank.com introduces 10% interest rate on checking accounts
May
Compubank offers customers $40 bonus for each referral
Everbank.com hires Yodlee for account aggregation
DLJDirect, the online brokerage, opens its first branch; more planned
Security First Network Bank, the first Internet-only bank, again retools its strategy
American Banker identifies 24 Internet-only banks
June
Citigroup decides to close Internet-only Citi f/i
Claritybank adds aggregation
Internet-only Lighthousebank.com of Brookline, Mass., opens for business
Umbrellabank.com opens in Westmont, Ill., to serve public housing residents
July
NetBank says it opened more than 22,000 accounts in the second quarter, its biggest yet
Lloyds TSB Bank PLC of London says it will open evolvebank.com, an Internet-only bank
Robert B. Albertson of Goldman Sachs, joins Internet-only National Interbank
August
Netbank, aiming to pare advertising costs, starts target-marketing to Quicken users
Egg PLC, the largest Internet-only bank in the United Kingdom, is victim to a hacker attack
Electronic Clearing House, a software company, says it will open an Internet bank
September
Wingspan, First-E Group PLC of Dublin, and VirtualBank plan to open branches
First Union opens an Internet-only mall
Ellen Seidman of OTS says Internet-only banks have failed to live up to their hype
October
Juniper Bank, run by former First USA leaders, opens for business, focusing on credit cards
A Speer report says banks do not use the Internet effectively for marketing
Salem Five Cents Savings Bank, an Internet banking pioneer, adds branches
November
A McKinsey consumer survey shows lackluster interest in banks without branches The net-only Netbank will take deposits at MAC ATMs After 11 months, X.com gives up on Internet banking in favor of person-to-person payments Netbank submits a plan for compliance with the Community Reinvestment Act
December
E-Trade Bank claims $11B in assets, $5B of deposits
National Interbank, in strategy shift, will sell its technology to other financial services firms
First Internet Bank of Indiana says no-fee checking accounts tripled from May to November
Juniper Bank said it has amassed $100M in card loans and 50,000 accounts
