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Banking industry

First Tennessee Bank Launches FTB Online, a Java-Based Internet Banking Solution

Strategic Insights

— 2 min read

First Tennessee Bank, a nationwide diversified financial services institution, has announced the launch of FTB Online, a Java-enabled suite of Internet banking, financial analysis, and planning applications. This innovative platform allows customers to interact with and manage their financial information, including tracking account activity, viewing account balances, paying bills, and planning for the future. FTB Online is the first Java-based online banking solution offered by a bank in the United States, providing customers with a high level of interactivity and convenience.

Key Takeaways:

  • FTB Online is a Java-enabled suite of Internet banking, financial analysis, and planning applications launched by First Tennessee Bank, a nationwide diversified financial services institution.
  • The platform offers customers a wide range of features, including tracking account activity, viewing account balances, paying bills, transferring funds, and planning for the future.
  • FTB Online is the first Java-based online banking solution offered by a bank in the United States, providing customers with a high level of interactivity and convenience.
  • The platform allows customers to securely manage financial tasks and access online financial planning and analysis tools, including the Financial Advisor feature.
  • First Tennessee expects the volume of online customers to grow significantly as online banking becomes more widely accepted.
  • FTB Online basic banking activities are free to all First Tennessee customers, while the bill payment service costs $3 per month for Priority Choices and Student Checking customers, or $10 for a setup fee followed by $5.95 per month for other customers.
  • The Financial Advisor feature of FTB Online provides customers with a set of comprehensive financial calculations based on their assets, liabilities, cash flow, financial goals, and risk preferences.
  • Home Account Network, a leader in personal financial management technology for the Internet, partnered with First Tennessee to create FTB Online.

Statistics:

  • FTB Online is the first Java-based online banking solution offered by a bank in the United States.
  • First Tennessee expects the volume of online customers to grow significantly as online banking becomes more widely accepted.
  • 90% of First Tennessee customers have access to the Internet, making FTB Online a convenient option for customers who prefer to manage their finances online.
  • $3 per month is the cost of the bill payment service for Priority Choices and Student Checking customers.
  • $10 is the setup fee for the bill payment service for non-Priority Choices and Student Checking customers.
  • $5.95 per month is the cost of the bill payment service after the setup fee for non-Priority Choices and Student Checking customers.

Sources:

  • First Tennessee Bank, "FTB Online, Java-Based Internet Banking Solution, Launched" (Business Wire, May 4, 1998)
  • Home Account Network, "Home Account Network Delivers Home Banking, Financial Management and Electronic Commerce Solutions" (Company website, 1998)
  • JavaSoft, "Java and 100% Pure Java" (Company website, 1998)
  • Sun Microsystems, "Java" (Company website, 1998)

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