Product Type: Market Research Report
Published by: TowerGroup
Published: February 2001
Product Code: R301-694Description In September 1999, SunTrusts Banks, Inc. became the 14th of the top 15 US banks to offer browser-based Internet banking (the last bank, Bank of New York, is planning a launch in Q1 2001). Even though SunTrust Banks, Inc. was late to the game and introduced browser-based banking after most of its peers, its 13.6% online banking penetration rate compares favorably with the US average of 12% to 14% (TowerGroup estimate). By this measure, the bank is succeeding as a "fast follower" in the Internet banking marketplace.
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