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Gates Reveals Online Banking Plan

Microsoft chair Bill Gates today outlined his company's strategy for online banking at a conference sponsored by the Bank Administration Institute in Atlanta.

In his address, Gates identified Microsoft as a core technology supplier to the online banking industry and said that more than 200 banks worldwide have agreed to use Microsoft's solutions as the basis for their forays into the online banking business.

Microsoft's long-term plan, according to Gates, is based on four key offerings. These include development tools and core technologies to develop banking Web sites, a secure universal email platform, the Microsoft Money financial management program, and end-to-end solutions from Microsoft Solution Providers.

Microsoft's open standards plan is in contrast to online banking competitor Intuit, which announced yesterday it is in the process of wooing banks with what it says are more secure pathways: private connections via Intuit's own network and through America Online.