Claritybank.com, the Internet Bank for New Economy Businesses, Forecasts the Future of Online Banking.Business & Technology/Internet Editors PURCHASE, N.Y.--(BUSINESS WIRE)--March 14, 2000 Business-to-Business and Wireless Services, Experienced Leadership Provide Foundation for Success Claritybank.com (www.claritybank.com) is moving swiftly and strategically into the world of Internet banking with the opening of its virtual doors later this month. Led by a team of experienced financial and technology professionals, with $14 million of first-round funding, Claritybank.com is a commercial bank focusing on emerging growth and New Economy companies. Claritybank.com is one of the most comprehensive vertical financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. platforms in operation and provides banking, brokerage and business-to-business services via the Internet, telephone and wireless devices. In addition to a full array of consumer products and services, Claritybank.com is targeting New Economy companies -- ranging from dot.com start-ups to established mid-sized businesses -- by offering a vast array of innovative deposit, loan and business resources. Claritybank.com's online banking platform is designed to enable businesses to access account data and functionality, all the time, from virtually any location. "Small businesses are particularly ready for a real online banking solution that works for them. We have watched this marketplace evolve, and we've built Claritybank.com to provide a vertical financial platform for businesses, and an efficient and less bureaucratic environment in which to conduct business," said David Arzi, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "The New Economy demands speed, accuracy and creativity, and that is exactly what we deliver to our customers." In addition to deposit products, the company provides virtually every type of financing needed by New Economy businesses, from lines of credit and commercial real estate loans to innovative programs such as venture leasing. For example, Claritybank.com's venture leasing programs provide less-established companies with highly customized equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
In order to ensure efficient delivery of its products and services and to better serve the needs of its business customers, the company has opened two commercial loan centers in Chicago and Newport Beach Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif., in addition to its existing locations in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Texas. "Not only does Claritybank.com deliver unparalleled deposit products and banking services through its many delivery channels, we have also ensured highly responsive service by strategically locating in key markets across the country," said Michael C. Szwajkowski, President and Chief Investment Officer. "We believe that we are extremely well-positioned to deliver our lending products through our web-enabled channels as well as through these strategic locations. Claritybank.com operates in the same world as our customers and understands the need for responsiveness and decisiveness." Taking 24/7/365 a step further, the company is launching ClarityAnywhere, a wireless solution to ensure that its customers have access to its services not just all the time, but from anywhere. "It's not enough anymore to simply offer products - you have to proactively deliver value. We are doing precisely this through exciting delivery channels such as ClarityAnywhere, which enables our business and retail customers to access all of their account information and functionality via any handheld digital device. Claritybank.com is committed to remaining on the leading edge of technology and this is one more example of how serious we are about customer service," commented Scott C. Schwartz, Executive Vice President. Other innovative services offered to business customers include the company's B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business Center which provides access to a number of critical resources online. Claritybank.com has used its buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. to negotiate favorable terms for its small business customers for such items as long distance, payroll processing, staffing, insurance and office supplies Office supplies is the generic term that refers to all supplies regularly used in offices by businesses and other organizations, from private citizens to governments, who works with the collection, refinement, and output of information (colloquially referred to as "paper work"). . These value-added services are provided free of charge. Claritybank.com has also designed a compelling consumer solution featuring a robust suite of products, including online bill payment, a fully customizable homepage, consolidated reporting and discount brokerage through ClarityDirect. Moreover, the bank offers some of the most competitive rates on both savings and loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. products. For instance, Claritybank.com offers nationally ranked rates on both CD's and money market accounts. And because of its Internet platform, Claritybank.com can efficiently guarantee single-family mortgage applicants the lowest rates in the country or approve a credit card application in as fast as three seconds. A team of banking and financial professionals from such organizations as Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. and Heller Financial, Inc. are leading Claritybank.com's online charge with guidance from the Board of Directors, which includes Richard Breeden, former Chairman of the U.S. Securities and Exchange Commission, Lauralee Martin, CFO See Chief Financial Officer. of Heller Financial, Inc. and John Sapanski, former President of Dime Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. . According to leading analyst firms, there is a rapidly escalating demand for online banking services. International Data Corporation predicts that 32 million U.S. households will bank online by 2004, while Cyber Dialogue estimates that 11% of all Internet users currently bank online. By leveraging this online growth potential with the growing demand of New Economy businesses for Internet-enabled, high-value financial products, Claritybank.com expects to experience significant growth and demand. About Claritybank.com Claritybank.com is a leading Internet bank providing real-time, next-generation financial services to businesses and consumers. Founded by leading financial and technology professionals, Claritybank.com's mission is to deliver competitive banking and loan products through its website and national business lending offices, combined with best-of-breed customer service initiatives. Claritybank.com provides myriad services and features specifically tailored for small business including equipment leasing, commercial real estate mortgages, SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government loans and general business loans. Claritybank.com is a national bank and wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Purchase (NY)-based Clarity Holdings, Inc., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. funded by leading financial and technology investors. Claritybank.com is a fully insured member of the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). . |
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