Why WingspanBank Couldn't Stay Aloft

Murphy, Patricia A.
September 2001
Bank Technology News;Sep2001, Vol. 14 Issue 9
Trade Publication
Analyzes the failure of WingspanBank.com, the stand-alone Internet bank venture of Bank One Corp. Views of industry analyses on survival prospects of Internet banking; Bank One's plan to convert Wingspan's customers to its self-branded Internet bank, bankone.com, in fall 2001; Limitations of pure-play Internet banking; Problem of attracting balances beyond the amount used to open an account.


Related Articles

  • Dimon Kills Wingspan; Cost of Brand Is Cited. Roth, Andrew // American Banker;6/29/2001, Vol. 166 Issue 125, p1 

    Reports on Bank One Corp.'s decision to close its separately branded Internet-only bank, WingspanBank.com, due to the high cost of maintaining the brand. Strategies implement to by Bank One to keep Wingspan viable; Wingspan's competition with the Internet division of Bank One's brick-and-mortar...

  • Street Says Good Riddance to WingspanBank.com . Roth, Andrew // American Banker;7/2/2001, Vol. 166 Issue 126, p18 

    Presents an update on the plan of Bank One Corp. to close down WingspanBank.com as of July 2, 2001. Increase in the stock value of Bank One the day it announced its plan to stop the operations of the Internet bank; Difficulties faced by Bank One in measuring the impact of Wingspan; Amount of...

  • Sell Wingspan? Not So Fast, Says New CEO. TOONKEL, JESSICA // American Banker;3/29/2000, Vol. 165 Issue 61, p1 

    Discusses the implications of the appointment of James Dimon as chief executive officer of Bank One Corp. on the company's plans for WinspanBank.com, its Internet-only bank. Dimon's enthusiasm about the bank; Dimon's involvement in Internet projects as former president of Citigroup; Concerns on...

  • Bank One Rebuffed Vague's Wingspan Bid. SOUCCAR, MIRIAM KREININ // American Banker;3/23/2000, Vol. 165 Issue 57, p4 

    Reports that Chicago, Illinois-based Bank One Corp. has rejected an offer from Richard W. Vague, former chairman and chief executive of Bank One's First USA unit, to buy the bank's Wingspanbank.com Internet bank. Hiring of Morgan Stanley Dean Witter & Co. to find a company that will buy the...

  • How Bank One Will Pull Wingspan In from Cold. PTACEK, MEGAN J. // American Banker;9/29/2000, Vol. 165 Issue 188, p1 

    Discusses the efforts of Bank One Corp. to develop a new strategy for its stand-alone Internet bank, WingspanBank.com. Failure of Bank One's national advertising campaign to promote the bank; Plans to promote WingspanBank.com's products in Bank One branches in Phoenix, Arizona; Deals with...

  • Dimon Now Says Bank One May Sell Its WingspanBank. SILVESTRI, SCOTT; MANDARO, LAURA // American Banker;5/3/2000, Vol. 165 Issue 85, p1 

    Reports that Bank One Corp. chief executive officer James Dimon may sell off WingspanBank.com as one of several options for reversing the banking company's flagging fortunes. Dimon's hiring of William Campbell to help him figure out what to do about Wingspan; Industry observers' comments on...

  • Wingspan Adds Supercharged Fund Search Feature. SNEL, ROSS // American Banker;12/6/1999, Vol. 164 Issue 232, p26 

    Announces WingspanBank.com of Bank One Corp.'s introduction of a mutual fund search service. Features and capabilities of the FundProfiler service from Wingspan Investment Services Inc.; Previous speculation that the financial performance of the firm might force Bank One of Chicago, Illinois,...

  • Internet-only venture lets Bank One spread wings. McCulley, Russell // New Orleans CityBusiness (1994 to 2008);07/05/99, Vol. 20 Issue 1, p12 

    Focuses on the venture of Bank One Corp. into Internet banking through its partnership with WingspanBank.com. Goal of Bank One's online venture; Marketing strategy to introduce the bank's Internet services. INSET: Assuring community service.

  • More Web Banks Find Branches Necessary. Power, Carol // American Banker;9/15/2000, Vol. 165 Issue 178, p1 

    Reports that the conversion of the Internet-only movement to branch banking is gaining momentum. Plans of WingspanBank.com and VirtualBank to open physical locations to augment their presence on the Internet; Reason for the move; Customers' need for physical branches.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics