Merrill Lynch & Co., a newcomer to on-line brokerage, plans to offer banking services over the Internet as well.

"We are looking to create a next-generation bank" on the Internet, said John McKinley, chief technology officer and executive vice president, in an interview.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.