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Financial Institution Milestones -- Security First Network Bank Trying to Boost Usage

By Jim Bruene on May 25, 1997 10:23 AM | Comments

Security First Network Bank

Security First’s latest look. Notice the snail mail address in the upper right-hand corner. SFNB is trying to show that is solidly in the “real world.”

Security First Network Bank (Atlanta, GA; $41 million; 10,000 online accounts) is trying to boost usage of its Web-based bill payment (processed by CheckFree). New or existing customers making at least five bill payments between March 1 and June 1 are automatically entered into a contest to win a three-day course in race-car driving at the Skip Barber Racing School (value $2,300 but cannot be redeemed for cash) plus $750 cash for transportation. The goal of the sweeps is sound, but the prize is odd. It may be attention getting, and it was probably free in return for the publicity, but a grand prize should have broad appeal, or be exchangeable for cash. This one fails on both counts.

Contact: Michael Karlin is President, 404.679.3201, karlin@sfnb.com.

New account acquisition and bill payment usage sweeps.


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