Convinced that a growing number of people will be going online to handle their money, CompuServe unveiled a complete menu of financial services today.
The number-two online service is providing its subscribers with a variety of tools to manage their finances and investments, including online banking, money management, stock and mutual fund tracking, and new information from financial services firms.
Under an alliance with Braun, Simmons & Co., CompuServe subscribers will be able to access checking and saving accounts, pay bills, transfer funds, and view account statements. Security First is the first bank to announce support for the new services, though CompuServe officials said they expect to sign agreements with a series of banks.
To help subscribers keep track of those transactions, CompuServe also signed a licensing deal with MECA Software to provide the Managing Your Money personal finance software to balance checkbooks, handle budgets, and follow investments. The application will provide a direct link to all the banks that announce support for CompuServe's online financial network.
In addition, the company licensed technology from the PAWWS Financial Network to maintain an updated portfolio for individual users and provide updated stock quotes and financial news.
CompuServe is even going the next step to let investors buy, sell, or exchange mutual fund securities through a partnership with DST Systems, whose software provides access to half of the mutual fund companies nationwide.
Lastly, National Discount Brokers and Block Financial also joined CompuServe's portfolio services. National Discount Brokers offers a variety of flat-fee financial information and accounting services while Block Financial's Conductor provides electronic bill paying.