MAY 28, 2002

peoples.com Named No. 3 Web Site In U.S.

National study evaluated financial institutions' ability to move customers online

BRIDGEPORT, CONN.
People's Web site, peoples.com, has been named the No. three in the nation in a study that measured financial institutions' success in moving customers online. The study of approximately 11,000 banks in the United States by Jupiter Media Metrix Inc., a New York-based firm specializing in the analysis of Internet and new technologies, also ranked peoples.com 19 in overall effectiveness.

"Our achievement in moving customers online is key to our success with peoples.com," said Jaci Coleman, executive vice president and chief information officer at People's. "After all, if you have a wonderful Web site but no one uses it, what good is it?"

People's uses a customer-focused approach to develop and grow its Internet site as an integrated component of its multi-faceted delivery system. The result is an online experience that delights customers.

"We've developed a site where our customers can ask personal finance questions or transact their financial business in complete privacy and intimacy," said Ted Josephson, People's vice president, manager, Direct Banking, who heads up the online development team. "peoples.com has the look and feel of our branches, the access to expertise our customers demand and the sophisticated functionality our customers deserve."

People's was one of the first banks in the country to establish an Internet presence. The original site, launched in 1995, included information about the bank and links to Connecticut-based community, news, arts and entertainment sites. The second generation of the site, introduced in 1997, included more information about products and services and featured increasing levels of functionality.

In 2000, People's introduced the third generation of peoples.com, which was one of the first Web sites in the country to give customers the ability to fully integrate their banking and brokerage accounts. The site also offers customers online bill payment and access to People's credit card account histories and offers business customers online cash management.

People's NASD-member brokerage subsidiary, People's Securities, Inc., started offering online trading through peoples.com in 1999, and today 50 percent of all People's Securities trades are ordered online.

In addition to the integration of services, peoples.com gives customers the option of chatting online with or requesting a telephone call from a customer services representative. Bank personnel also respond promptly to e-mailed questions.

Unlike some financial services sites, a person doesn't have to be a customer to use the site. Because no identification number or password is needed to contact a People's representative, either using the "Live Chat" or "Call Me Now" features, even non-customers can learn what products and services are right for them.

The site processes in excess of 1 million transactions - from customers in 40 different countries - each month, according to Josephson. People's also receives about 20,000 customer e-mails a month, most of which are answered in less than four hours.

In addition to the recent recognition by Jupiter Media Metrix, peoples.com was named among the top five in a study of 172 financial services Web sites by Speer & Associates, Inc., and was rated "A" by Retail Delivery News.

People's (peoples.com) is a diversified financial services company providing commercial, consumer, insurance and investment services. Founded in 1842, it is the largest state-chartered bank in Connecticut with managed assets of $13 billion, 150 branches and more than 220 ATMs. People's is a leader in consumer and commercial banking, residential lending, insurance sales, supermarket banking and is the nation's 15th-largest issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.