Casting its Net; Bank One's strategy as competition grows: new, online institution; Wingspan has neat features and a mighty ad budget, but move is a gamble; how do you get out cash?
Article Abstract:
Wingspan faces competition from other Internet-only banks and large banks with Web presences, but hopes Bank One's willingness to spend on marketing will allow it to grab an Amazon.com-like share of online banking. According to some estimates, Bank One will spend $150 mil this year promoting the bank. Ads for Bank One's First USA credit card, already a big Web advertiser, will mention Wingspan. Since Wingspan's back end technology is separate from Bank One's, the company quickly rolled out a wide array of financial services based on new systems. Receiving and dispensing cash without branches may discourage some customers.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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Coulter quits BankAmerica president post
Article Abstract:
BankAmerica Corp.'s president, David Coulter, resigned unexpectedly from the newly merged BankAmerica with NationsBank. Speculation is that some bad loans and lost earnings are part of the reason and that the bank's chairman and chief executive, Hugh McColl, asked that he be asked to leave. McColl's retirement at age 65 might now be postponed while a successor to Coulter is selected and groomed.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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