Hibernia National Bank has developed a browser-based system for its commercial clients.

The software, TowerNet, would give corporate treasury and investment professionals access to banking information. Transactions would take place over the bank's private network.

Future upgrades-such as e-mail and automated clearing house origination capabilities-will be obtainable on-line.

Wachovia Corp., Winston-Salem, N.C., has also introduced a browser-based information and transaction initiation service called Wachovia Connection Financial Browser. It allows customers to initiate transfers and stop- payment orders, request check copies, and view account activity.

Banks are interested in developing browser-based cash management software for commercial clients because such software is simple to distribute and update.

Traditional Windows-based software is rapidly becoming too expensive for many institutions.

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