By Tom Steinert-Threlkeld  |  Posted 2005-09-07 Print this article Print

The online bank partnered with UPS to give its retail customers a place to deposit checks—and cut processing times to a day or two instead of a week.

NetBank Base Case Headquarters: 11475 Great Oaks Way, Alpharetta, GA 30022

Phone: (770) 343-6006

Businesses: Online consumer banking; mortgage intermediary; financial transaction processing.

Chief, Strategic Initiatives: William M. "Mickey" Ross

Financials in 2004: $346.9 million in revenue; $4.2 million in net income; net profit margin 1.2%.

Challenge: Find way to compete on convenience and speed with teller machines and bank branches, in taking checks and other paper deposits from customers.

Baseline Goals:

  • Cut transit time of getting check deposits to processing center in Georgia to two days, from five.
  • Increase number of banking customers to 500,000, from 270,000, in no more than six years.
  • Double the number of products sold to each customer to four, from two.

Tom was editor-in-chief of Interactive Week, from 1995 to 2000, leading a team that created the Internet industry's first newspaper and won numerous awards for the publication. He also has been an award-winning technology journalist for the Dallas Morning News and Fort Worth Star-Telegram. He is a graduate of the Harvard Business School and the University of Missouri School of Journalism.

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