Northern Trust Corp. has agreed to use the home banking services of Cash Station Inc.
Cash Station is a Chicago-based company that operates one of the nation's largest automated teller machine networks. It offers home banking and bill payment processing services in conjunction with Electronic Data Systems Corp.
"By leveraging its existing ATM infrastructure in our network, Northern Trust can bring to market its own set of private-label home services much more quickly and less expensively" than would otherwise be possible, said Stephen S. Cole, president and chief executive officer of Cash Station.
Northern Trust plans to offer bill payment, funds transfer, transaction history, and balance inquiry services through personal computers and telephones.
The $21.7 billion-asset bank company plans to test the services with employees in September. A rollout to customers is expected by yearend.
Northern Trust executives said they plan eventually to add trust and investment services to their roster of home banking products.