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Proving yet again that old dogs know how to learn new tricks, 144-yearold Salem Five Cents Savings Bank is extending the scope of its already lucrative online banking business with its new directbanking.com Web banking service.
The Salem, MA-based institution has provided Internet banking for the last five years.The launch of directbanking.com is part of Salem Five's plans to keep its branchless banking offering fresh and address the evolving needs of its customers.
"Directbanking.com will offer more products, more powerful functionality and will be even easier to navigate than our original Web site," declares Michael Fitzgerald, president of directbanking.com at Salem Five.
New features include online brokerage services through the bank's brokerage subsidiary; insurance, including quotes and applications; home banking through Intuit's Quicken and new high-yield money market and checking accounts. The site also sports a personalization feature where customers can receive news, giving it the feel of a portal.
"Customers can use the site as a news source," Fitzgerald says. "Features like this keep people coming back."
Despite having Web customers throughout the country, Salem Five hopes the directbanking.com brand will help the...