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Bank from home and stay alive
A merchant bank provides its clients with access to the Net, writes GREG GORDON
THE third fastest growing Internet service provider in South Africa, NetActive, has recently concluded a deal that will provide access to the Internet for clients of Mercantile Lisbon Bank. There are potentially 20 000 clients who could benefit from Internet banking. This deal forms part of Mercantile Lisbon Bank's new offering, BANK@bility. It will provide clients with direct access to their personal bank accounts via the Internet or a modem-to-modem link, using a Windows-based product. The chief operating officer at Mercantile Lisbon Bank, Alan Greenstein, said: "Clients will not have to come into the bank to acquire the software. The starter kit will simply be delivered to their homes or businesses and loaded by a consultant to get the subscriber started." A key benefit to clients will be extended banking hours in the comfort and safety of their homes. Businesses wishing to pay wages and salaries will be able to credit employee bank accounts.
Mercantile Lisbon Bank is confident that this system will reduce or even eliminate cheque writing and subsequent cheque fraud. The dial-up manager at NetActive, Ryan Bacher, said: "Electronic banking is no longer the dream of the future, it has become real. Banks like Mercantile Lisbon Bank are seeing the benefit of linking up with an Internet service to provide dial-up access to their clients." Top of page
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