Amboy Direct:
Pure Internet Banking

What if you could do your banking conveniently online AND earn the highest rates available in the country? Would you open an account at a bank even it was 2,000 miles away?

The answer to this question puzzled Amboy National Bank, a stable, steady growth, mid-sized bank in a very competitive mid-New Jersey market. The concept was just being introduced to the public by ING, the new giant Dutch international bank. ING had just decided to move into the North America market and had nothing to lose with an aggressive new strategy. US banks face the challenge of accommodating their current customer base and its banking habits while not losing site of opportunities available through the Internet.

Just one year ago, Amboy decided to test the waters and launched its totally online banking system limited to a special personal "eSavings Account". It was the first bank in New Jersey to offer such a service. Amboy's strategy was simple. Keep track of the rates offered by the competition and try to offer better rates to the public using a cheaper, more efficient technology.

MIG designed and delivered the basic technology for the new concept within a blistering 3 month development period. The project began with a pure concept of leveraging inter-bank transfer technology to move money between accounts at different banks, while building and maintaining a bullet-proof, secure website. The bottom line was that all new Amboy Direct customers would need to feel 100% confident in transacting all their business directly on the web.

MIG designed the entire secure application process including extensive data checking, integration with the bank's deposit systems, interactive disclosures, automated email communications, reporting, and a dynamic promotional marketing (Promo Code) feature. The Promo Codes feature controls and tracks multiple promotional campaigns - a key to their success with interactive services. The DBS (Direct Banking System) works by generating fully-formatted ACH transactions and maintaining secure customer account information.

In the first 12 months of operation, Amboy has discovered a new banking market beyond its traditional central Jersey market. Soon Internet savvy investors all over the country were discovering Amboy Direct. Amboy responded with new personal money market accounts and business savings, further expanding by reaching more customers.

Paul Kiczek, President of MIG, says "You might say it's a new "virtual banking" world for its customers and for ANB. MIG can provide this type of banking system for your financial institution. We also can apply the same "ACH bank transfer" technology to make e-payments for your services." To find out how to use direct banking or e-payments for your website, contact Paul Kiczek of MIG at (973) 244-1191.

Formed in 1996, Morris Internet Group is a NJ-based software development company that provides web hosting, site management tools, and outstanding Internet marketing and communications applications under its ie-Marketing and ie-Government family of products.