
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, May 24, 1995                   TAG: 9505240105
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: 
DATELINE: NEW YORK                                LENGTH: Short

BANKS TO OFFER SERVICES ON INTERNET

Two more big banks today will enter the race to offer consumer online banking services over the Internet.

Wachovia Corp. and Huntington Bancshares Inc. have teamed up with a tiny community bank in Kentucky to create a banking system on the Internet that's safe from hackers, the banks said Tuesday.

The two banks will invest $2 million each in a subsidiary of Lexington, Ky.-based Cardinal Bancshares Inc. that has developed secure software to create online bank accounts for home-computer users. A third bank, Owensville, Ky.-based Area Bancshare Inc., will invest $1 million in the venture.

The service will be one of the first of its kind. The program will let computer users open accounts, check balances and make payments. It's designed to look like branch banking, with icons representing teller windows, an account set-up area and a manager's desk.

- Associated Press

by CNB