WATERBURY, Conn.--(BUSINESS WIRE)--Aug. 5, 2004--Webster Financial
Corporation (NYSE:WBS), the holding company for Webster Bank, N.A.,
announced today that its banking subsidiaries now provide online
banking with bill pay free to both individual and small business
customers.
"Free bill pay at websteronline.com is yet another example of how
Webster is finding a way for our customers," said Jeffrey Brown,
executive vice president for marketing and communications. "We led the
southern New England market in offering individual and small business
totally free checking products; offering bill pay for free is another
compelling reason for customers to bank at Webster."
Webster began offering online services in 1998. Unlike many
systems, Webster internally built its online platform to have the
flexibility to implement new ideas quickly to best provide for its
customers' needs. Gomez Inc., a national Internet research and
benchmarking company, ranks websteronline.com among the top 30
financial services websites in the United States.
Among the distinctive services Webster provides are a "single sign
on" capability, allowing customers to access all their accounts and
view their entire banking relationship on one page. Webster customers
can open and manage accounts online, apply for loans and transfer
funds between accounts.
In addition, Webster offers secure messaging, financial articles,
and calculators to help plan major expenditures or to set savings
goals. Customers can also view current interest rates for Webster
loans and deposits.
"More than half of our individual customers are utilizing online
banking services, and these customers tend to have deeper
relationships with us," said Fran Duggan, senior vice president for
corporate Internet. "The benefit of our online services is that we can
serve these customers' needs at their convenience. We fully expect the
use of this service to grow significantly, particularly among small
business customers."
"The trend in banking is increasingly moving to the Internet.
Webster will continue to be proactive in developing new products and
services for our online customers. We also intend to find ways to
assist customers' transition to online banking," said Brown. Webster's
history is replete with innovation and through websteronline.com, we
will continue to be an industry leader."
Webster Financial Corporation is the holding company for Webster
Bank, National Association and Webster Insurance. With $17 billion in
assets, Webster provides business and consumer banking, mortgage,
insurance, financial planning, trust and investment services through
147 banking offices, 268 ATMs, telephone banking and the Internet.
Webster Bank owns the asset-based lending firm Webster Business Credit
Corporation, the insurance premium finance company Budget Installment
Corp., and Center Capital Corporation, an equipment finance company
headquartered in Farmington, Connecticut. For more information about
Webster, including past press releases and the latest Annual Report,
visit the Webster website at www.websteronline.com.
CONTACT: Webster Financial Corporation
Media Contact:
Meghan Thompson, 203-578-2287
mthompson@websterbank.com
or
Investor Contact:
Terry Mangan, 203-578-2318
tmangan@websterbank.com
SOURCE: Webster Financial Corporation