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Microsoft, Chemical Make Online Deal

With the debut of its much-hyped Windows 95 just around the corner, Microsoft Corporation officials announced today a pact with Chemical Banking Corporation that will give Microsoft Money users access to home banking services.

Microsoft says it will begin selling Money for Windows 95 in October. The company is pushing the software hard in the wake of its failed attempt to acquire Intuit, maker of Quicken. Although Microsoft has deals with other banks, including Chase Manhattan, Chemical is the largest bank partner the company has landed so far.

To promote the deal, Microsoft will supply Chemical with the names of registered users living in the New York area.

A Microsoft official adds that more deals with banks are likely. The company had planned to sell Money to Novell, but when the Intuit deal generated too much controversy (and a possible Justice Department investigation) Microsoft cancelled the sale.