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...... Security First Network Bank (SFNB), the world's first Internet-only bank. When it opened its virtual doors in the fall of 1995, SFNB was using internally developed technology that was based on two then-radical premises: 1.the software required for remote banking works better for everyone if it lives on the bank's network server, not inside every customer's PC; and 2. the Internet can be made secure for financial transactions. SFNB did indeed prove that the concept worked. For three pioneering years it successfully, but not profitably, ran its e-bank and convinced some 15,000 depositors that the Internet was both convenient and secure. That pathbreaking approach caught on with a good share of the country's biggest banks (Orr 1999:32)
Looking at a European alternative is the success story of egg.com
"THE internet is here to stay," says Andrew Firth, marketing director of Egg, the country's first and best-known internet bank [UK]. "People are signing on as never before, buying PCs."Up to 80,000 people visit Egg every day. The reason is straightforward, says Andrew."We were the first company to popularise the net as a place to bank. Nearly 90 per cent of people recognise our name. They know we have great deals,

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