First Internet Bank Launches Real-Time Internet Banking Services

Released on February 22, 1999

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firstib.com is leading the banking industry into the 21st century, empowering individuals to better manage their finances

First Internet Bank of Indiana (firstib.com), a real-time Internet-only financial institution today officially launched its innovative real-time Internet banking services at the Museum of American Financial History in New York.

Dr. Virginia Morris, Editorial Director of Lightbulb Press, author of The Wall Street Journal Guide series on personal finance and investing and A Woman’s Guide to Investing, officially launched firstib.com by opening the first bank account and performing a real-time banking transaction, transferring $100 from one account to another. The event was well attended by various media outlets along with industry analysts and investors, who gathered at the Museum nestled in Wall Street to get a first glimpse at how firstib.com plans to revolutionize the banking business via the Internet.

In his speech to the attendees of the launch, David Becker, Chairman of firstib.com said that real-time banking allows individuals to perform banking functions when, and where they want. He believes the firstib.com’s real-time Internet banking services are leading the banking industry into the 21st century, where customers’ demand the best deals, and up-to-the-second services.

“Individuals have longed to better manage their own finances on their own schedule when they want without waiting,” said Mr. Becker. “With the introduction of firstib.com, individuals are empowered with unprecedented flexibility to be their own financial managers. And thanks to firstib.com’s low cost of operations, firstib.com can offer attractive interest rates with traditional banking.”

Joining Mr. Becker and Dr. Morris to reiterate the significance of firstib.com to customers was Mr. John Herzog, Chairman and Founder of the Museum of American Financial History and Chairman of Herzog Heine Geduld Inc., a leading Nasdaq trading firm.

“The availability of Internet banking services to customers mark a new era for the banking industry,” said Mr. Herzog. “It is a significant step made by banking entrepreneurs to improve banking services as well as customers lifestyle through the empowerment of better managed finances.”

As part of its contribution to the Museum, firstib.com donated $5,000 along with the computer used to launch the bank, to create a permanent interactive exhibit on Internet banking and e-commerce. The exhibit will be used to educate visitors of the Museum on the evolution of the financial institutions; and chronicles the new era of e-commerce.

firstib.com offers a full suite of banking services that includes checking, money market savings, certificates of deposit, loans, bill payment services, credit cards and ATM cash cards. firstib.com will offer significant customer benefits over traditional retail banks including real-time processing of all transactions, continuous services available 24/7 via the Internet, ATM touch-tone phone and call center. Customers will also enjoy industry leading interest rates on checking, savings, money markets and certificates of deposit.

About firstib.com

Based in Indianapolis, Indiana, firstib.com is the first state chartered Internet bank with accounts insured by the FDIC. It is the first “Extended Value Online Bank” to deliver a full range of real-time Internet banking products with personalized interactive services, as well as offering competitive rates. Its business model enables customers to facilitate Internet banking in a real-time environment, as well as empower users to better manage their own finances.

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