ZIFFPAGE TITLENetBank Base CaseBy Tom Steinert-Threlkeld | Posted 2005-09-07 Print
The online bank partnered with UPS to give its retail customers a place to deposit checksand 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.
- 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.
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