The news was not easy to find but here it is... I find it interesting that when I asked Investor Relations a few weeks ago who their competitors were in EBS, Sanchez did not even make the list.So does this mean we are an "internet" stock now... It has been a long time but maybe payday is here...TomNet banking product propels Sanchez Shares scream in buying frenzy; volume 40 times averageBy Brenon Daly, CBS MarketWatchLast Update: 4:11 PM ET Apr 13, 1999Movers & ShakersMarket SnapshotMALVERN, Pa. (CBS.MW) -- Shares of Sanchez Computer Associates more than doubled, up 48 to 79 7/8, on volume 40 times average Tuesday after the company showed its electronic banking software at a trade show.<Picture>Today on CBS MarketWatchStocks in uneven sessionIntel profit up, sales down from fourth quarter Cisco to buy GeoTel for $2 billionY2K day on Capitol HillFlorida Bank cheered for e-bank moveMore top stories...CBS MarketWatch ColumnsUpdated:4/13/99 7:51:42 PM ET<Picture>The company (SCAI: news, msgs) makes software for financial service firms, and also has a division to handle transactions on an outsourced basis.Charles Robins, head of technology research for Pennsylvania Merchant Group, said the company is benefiting from displaying its product the BAI Internet Banking Conference in Atlanta.The trade show marked first time the company demonstrated its e-Profile service, which it launched in February. E-Profile allows banks to turn over their Net banking operations to Sanchez.The service center for e-Profile is set to open at the end of the month. That "certainly sets the stage" for Sanchez to sign up financial institutions in May, said Kathy Knaub, the communications manager for the Malvern, Pa.-based company.Knaub added that Sanchez is looking to ink deals with software companies to bolster its e-banking offering. Online banking has taken off as customers look for the convenience of round-the-clock banking. Financial institutions like the prospect of letting customers bank online, as it is less expensive then face-to-face transaction. Other makers of electronic banking software also rose. Security First Technologies (SONE: news, msgs) jumped 19 to 131, and has now doubled over the past month. Edify (EDFY: news, msgs) jumped 8 1/16, or 208 percent, to 11 15/16.Security One has a market capitalization of $1.4 billion, which is twice the market capitalization of Sanchez.<Picture><Picture>Brenon Daly is a reporter for CBS MarketWatch.
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