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First Internet Bank Earns #2 Spot in Gomez Scorecard
Gomez™ Ranking of Internet Banks Cites First IB for Relationship Services, Ease of Use, Attractive Rates and Range of Offerings; Only Non-Brick-and-Mortar Bank in Top Four
First Internet Bank of Indiana has captured the number two spot in the Winter 2000 Internet Banks Scorecard™ rankings, published by Gomez, Inc. First IB earned an overall score just behind banking giant Citibank and ahead of next-closest contenders Wells Fargo and Bank One Corporation, making it the only bank with no brick-and-mortar facilities to place in the top four.
The new rankings, based on an evaluation of Internet banks during the last quarter of 2000, moves First IB up from the number four status that it occupied on the two previous Gomez scorecards. It is First IB's highest standing since the bank first appeared on the Gomez scorecard in early 1999.
In the review provided by Gomez, First IB captured the top spot in the Relationship Services category ranking, and came in third in Ease of Use and fourth in Overall Cost. The review cited several key improvements made during the quarter, including new features that allow customers to pay multiple bills from a single entry page, enter comments about each payment, and access their last 15 transactions with a single click from the main screen.
The scorecard also commended First IB for offering competitive interest rates for CDs and money markets accounts, 4.50% APY on checking and ATM reimbursements up to $6 a month.
"We have been saying since we launched in 1999 that an Internet-only bank can provide services that are the same as, or better than, financial institutions with hundreds of branches, and this scorecard ranking is an important validation of that model," said David B. Becker, Chairman and CEO of First Internet Bank. "We not only ranked higher than all other online-only banks but also surpassed all but one traditional bank. That is a significant milestone in our ongoing effort to provide a wide range of services, simplicity of use and the best possible relationship with our customers."
The Winter 2000 Internet Banks Scorecard evaluated 30 Internet-only and hybrid Internet and brick-and-mortar financial institutions. Rankings reflect a set of 150 or more criteria points assembled during a rigorous data collection process that involves visiting sites, opening accounts, transacting, contacting customer service, and monitoring site performance throughout the day.
First Internet Bank of Indiana is the first state-chartered, FDIC-insured institution to operate solely via the Internet. First IB has customers around the country and more than $215 million in assets. Services include no-fee interest-bearing checking accounts, regular and money market savings accounts with industry-leading interest rates, CDs, IRAs, credit cards, and check cards that can be used instead of cash or checks. First IB also offers personal lines of credit, installment loans, unique real-time transfers between accounts, and the ability to display checking, savings and loan information on a single screen.
Gomez and Gomez Internet Banks Scorecard are trademarks of Gomez, Inc. All other trademarks, service marks and brand names are the property of their respective owners.