Making a Complex Business Consumer Friendly

 

Making a Complex Business Consumer Friendly

Looking at the New Breed of Bankers May 25, 2006: Vol. 2, Issue No. 41 IN THE NEWS Internet banks draw raves Many like the convenience and higher interest rates, but it's not for everyone. NEW YORK--Higher interest rates initially drove Nick Sayers to the Bank of Internet. But he soon realized it's more convenient, too. Sayers, 26, a private-equity investor in Chicago, is one of a growing number of Americans ditching their neighborhood brick-and-mortar accounts. Others are moving the bulk of their money to virtual banks like Bank of Internet, which can offer better rates because they don't have to