Online banking has had a bumpy history to date, but many in the industry feel that technology and consumer preferences have reached the point where it is fast moving toward acceptance as a mass-market service. “It’s going to be a very big phenomenon, on the scale of automated-teller machines.”
Predictor: Lemmons, Phil
Prediction, in context:In a 1995 article for The Washington Post, Elizabeth Corcoran interviews Phil Lemmons about the ripples Microsoft’s buy of Intuit are making in the area of online finance. Corcoran writes: ”All are eyeing this prize, in which people link their computers to financial institutions by telephone wire and conduct transactions. Online banking has had a bumpy history to date, but many in the industry feel that technology and consumer preferences have reached the point where it is fast moving toward acceptance as a mass-market service. ‘It’s going to be a very big phenomenon, on the scale of automated-teller machines,’ predicted Phil Lemmons, editor in chief of PC World magazine of San Francisco. ‘When you need cash, you’ll still have to go to an ATM machine. But everything else will be easier on a personal computer,’ he said.”
Date of prediction: January 1, 1995
Topic of prediction: Economic structures
Subtopic: E-commerce
Name of publication: Washington Post
Title, headline, chapter name: Intuit Deal Fears Center On Banking; U.S. Sees Microsoft Online Domination
Quote Type: Partial quote
Page number or URL of document at time of study:
http://web.lexis-nexis.com/universe/document?_m=2fce139982cc192b03faa6d36cae8b00&_docnum=6&wchp=dGLbVtb-lSlAl&_md5=cac29339414bc3a64180ff9ce3ad8bb8
This data was logged into the Elon/Pew Predictions Database by: Pagano, Shawna