New Internet Bank Targets Wireless Customers

FRAMINGHAM (03/30/2000) - At a time when Internet-only banks are looking for ways to add some bricks to their clicks, a new Internet bank - Claritybank.com - is committed to remaining virtual in order to offer its customers some of the best rates in the U.S.

Claritybank, which opened its virtual doors this week, has only one physical location - what used to be the First National Bank of Uvalde, Texas. The branch will remain a community bank, but the bank has beefed up its customer service center for online clients.

"We have no plans to grow physical locations," said spokesperon Sheila Keegan.

"We feel very confident that the consumer who is using the Internet to bring ease and convenience to their life will also use it for their banking decisions."

To attract customers to a bank with no tellers, Keegan said, Claritybank.com promises the lowest rates in the U.S. for single-family mortgages, the highest one-year certificate-of-deposit rates, and three-second credit-card approvals.

The bank also offers free online bill payment, a discount brokerage and full wireless access through mobile phones, pagers or PalmPilots.

Business customers can apply for loans, or find staff, office supplies or equipment, she said.

Claritybank.com is a national bank and a wholly owned subsidiary of Purchase, N.Y.-based Clarity Holdings Inc., a privately held company.

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