From: Udhay Shankar N (email@example.com)
Date: Tue May 16 2000 - 07:25:23 PDT
SAFE-DEPOSIT SERVICES GAIN MOMENTUM ON THE WEB
Safe deposit boxes are now available in a virtual form on the
Internet. BankAtlantic Bancorp and NetBank provide a service
that allows customers to store and easily retrieve electronic
documents online, and four or five other banks may soon follow.
A major benefit of the service is safety. "Think of Florida and
hurricane season; this allows our customers to download
documents and store them outside their home or their office for
safekeeping," says Jarett Levan of BankAtlantic.
Safedepositbox.com, the service provider for BankAtlantic,
utilizes a secure data center hosted by UUNet to store the
customer's files. The files are copied and held in three
different locations across the country to decrease the
possibility of losing the data. Safedepositbox.com also has a
general liability policy with UUNet. The company's digitizing
technology allows customers to upload, fax, or scan their
documents at a secure Internet location. The customers can
archive documents and decide who has access to those documents.
The virtual safe deposit boxes are available in sizes ranging
from 20 to 200 MB with a 10-MB box expected within two weeks.
(American Banker, 12 May 2000)
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