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Article: Outsourcing Gains Favor As Banks Flock to Internet.
- Article from:
- American Banker
- Article date:
- August 24, 1999
- Author:
CopyrightCOPYRIGHT 1999 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Banks and their financial service rivals -- even big ones -- are turning to outsourcers as they flock to the Internet.
Among those recently opting to have outside parties run their Internet operations are American Express Co. and Bank One Corp. Both have started Internet banks that are independent of existing branch networks.
Though smaller institutions are seen as the most natural candidates for outsourcing -- and have been turning to it in droves to support their Internet efforts -- big institutions are generally more inclined to want to control their own technological destinies.
The tendency to outsource for the Internet has to do with speed ...