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A History of Banking Innovations

By Jim Bruene on January 2, 2003 6:16 PM

Online Banking Report has covered Net banking for eight calendar years beginning with 1995. In that time, we’ve seen the industry go from a premium-priced niche service used by just one of out of every 300 households to a mostly free, mass-market offering used by one of every four households. Following is a list of the top 20 online banking innovations of all time. There were no changes to the list in 2002.


 

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#1: May 1995 ushered in the Net banking era and is the month Wells Fargo first posted statement data on the Web.

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#3: LendingTree is the first radically new retail banking business model to gain a critical mass and profitability.


 

Top 20 Web Banking Innovations of All Time (North America)

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Source: Online Banking Report, 12/02

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