Word: integrion
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Dates: during 1990-1999
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...less so. "I can go online and find hundreds of checking accounts," says Condon. "Microsoft wants to sell more servers and software, not become a financial institution." But Gates could find the insular banking world a tough nut to crack. Well before MSFDC, the industry launched the software consortium Integrion as its bulwark against territorial infringement. Today Integrion competes with MSFDC even as it licenses Microsoft Money. Microsoft, meanwhile, plays the good citizen, agreeing to abide by the E-commerce software platform that an industry group will release this August. For now, at least, it looks like everyone can just...
...have set up Internet sites. Most analysts give the holdouts four years to either get wired or get left far behind. Consumers can already pay bills and check balances through computer networks like America Online and CompuServe. Microsoft, too, has been signing up banks to provide electronic financial services. Integrion plans to battle the software giant by linking consumers to accounts through the Internet, and with financial software like Intuit's Quicken. The partners will also set up interactive kiosks that act like bank branches for home banking away from home. "With this new venture," says IBM chairman Louis Gerstner...
...Canadian banking behemoths, including Bank of America, Banc One and Mellon Bank, unveiled a venture that aims to provide a full range of financial services to the banks' 60 million customers at the touch of a telephone button or the click of a mouse. Called Integrion, the partnership will phase in such activities as bill paying, electronic lending and stock and bond trading beginning next year. "If we are dinosaurs," says Robert Gillespie, the chief executive of Cleveland-based KeyCorp, "then we're putting competitors on notice that a new breed has evolved with a voracious appetite for expanded market...
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