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Subject:  Upcoming changes at UmbrellaBank Date:  8/23/2002  10:19 PM
Author:  markber Number:  17419 of 24357

I am reposting a message by Raindancer & Mr. Koryl from the MSN online banking board.

"Mr. Koryl classifies UmbrellaBank. A most informative post. Thank you Mr. Koryl!

I just want to let you know that banks basically have fall into two categories:

1. Those that are small enough to listen and react, but are slightly
hamstrung by their reliance on external vendors to deliver needed
2. Those that are large enough to build all of their own custom
software and can throw unlimited resources at a problem, but rarely if
ever take the time to listen to issues in a forum like yours.

We obviously fall in camp #1. I can tell you in the next 4-6 months*
you will see the following in some way, shape, or form at UmbrellaBank:
A. Front and back of check images - the change is costly, but as we
heard from your community well worth the bucks
B. .QFX integration with Quicken and Money - once again, it is costly
but we will add it
C. External ACH - like American Bank we will be conservative at first,
but we too will adapt to the software and process and make it a success
D. Transaction definition - we will be able to fix bimmer's issue
E. and many more biggies I cannot remember

We will not improve the bill pay timing because it is simply too
This is one of the few "No's" you've heard from us to date. It is for
good reason. Either we charge for all bill pay or customers give up
the float. If we hear that people would rather be charged for each, we can
try and make that pricing model work. All our evidence to date points
to customers like having the 10 free per month. In addition, they are
smart enough to send the large payments via check so they don't give up
the larger floats.

Hope this helps give you some context on where we are coming from on
these issues.

*As noted in other communication we are dependent on reputable vendors
to deliver quality software and then work with our outsourced technical
and operational partners to make sure the processes are in place to be

John Koryl "

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