The financial performance of pure play Internet banks
The number of banks and thrifts that offer financial
services over the Internet is increasing rapidly in the
U.S. By using .transactional websites,. customers
can check account balances, transfer funds, pay (and
perhaps receive) bills, apply for loans, and perform a
variety of other financial transactions without leaving
their home or place of business. Approximately 1,100
U.S. banks and thrifts operated transactional websites
at year-end 1999.an elevenfold increase over yearend
1997.and projections by bank regulators suggest
that nearly half of U.S. banks will offer transactional
websites by late 2001 or early 2002 (Furst, Lang, and
Nolle, 2000).