MORE THAN 30,000 BANK WITH BANKDIRECT
Texas Internet Bank Ranks Fourth Nationally
DALLAS (October 10, 2000) - BankDirect, one of the nation's fastest growing
Internet banks (www.bankdirect.com),
reached a milestone today when it celebrated the signing of its 30,000th
customer.
In less than a year since its marketed launch, Dallas-based BankDirect now ranks
among the top four online banks in the nation in terms of number of customers
(30,000) and total deposits ($360 million).
"Our strategy was to employ a "no branch" model of Internet banking that offered
customers higher value, convenience and financial control," said BankDirect
President Scott Prince. "Our unique relationship with American Airlines
AAdvantage program, coupled with targeted, low cost advertising, has allowed us
to grow efficiently and at a very fast pace. Our growth in customers, deposits
and assets demonstrates that strategy has been effective."
"We're proud of our Texas roots," said Prince. "But in the Internet age we live
in, there are no geographic boundaries. We have customers in all 50 states and
in 10 countries. In fact, California competes with Texas as the state with the
most BankDirect customers. "
BankDirect has strengthened its consumer foothold using its partnership with
AAdvantage to offer mileage rewards to members. Specifically, BankDirect allows
AAdvantage members to earn miles by opening Mileage Checking, Money Market
Accounts and CDs, as well as using BankDirect services, such as direct deposit
and electronic bill pay. BankDirect is the first Internet-based bank to offer
mileage opportunities to AAdvantage members.
Through affinity programs and a streamlined business model, BankDirect offers
more value to tech savvy, value conscious consumers by offering better rates,
unique products and more convenient banking than traditional banks.
Bankrate.com gave BankDirect its Top Tier Award for consistently offering annual
percentage yields that were among the highest reported for the second quarter
of 2000. And, Gomez Advisors, Inc. has chosen BankDirect as one of its favorite
web sites for ease of use, customer confidence, on-site resources and overall
cost.
About BankDirect BankDirect is an Internet bank providing fast, flexible,
value-oriented financial services to customers around the nation. Launched in
May 1999, the company is redefining value in personal finance by leveraging the
power of the Internet to provide convenient, competitive banking products and
responsive service. BankDirect empowers its time-challenged, value conscious
customers with a wide array of financial products and services that fit their
needs, including no-fee, high interest checking, money market accounts and CDs,
and free bill-pay service. In addition, BankDirect has partnered with American
Airlines® to become the first Internet-based bank to offer mileage
opportunities to its AAdvantage® members. BankDirect is the national Internet
banking division of Texas Capital Bank. Texas Capital Bank is privately owned
and operated by the holding company, Texas Capital Bancshares, Inc., which was
founded in December 1998 with the largest start up capitalization in U.S.
banking history. BankDirect is located in Dallas, Texas. For more information,
visit the company at (www.bankdirect.com)
Contact Information:
Rose Hultgren
BankDirect
214-932-6690