online on 1 January 2000, will now not be up and running until the spring.

The Bank's senior officials, however, were yesterday not prepared to comment on the specific reasons for the delay.

On December 8, 1999 the bank revealed plans to offer a high-tech platform which will allow its customers to access a full menu of electronic banking, investment and trading services from the beginning of this year.

But at the moment the only service which is currently available on the Internet is the company's website.

When The Royal Gazette asked the reason for the delay on Monday, BCB responded by sending a press release yesterday. But the release did not state specifically why the system was delayed, although it did note that setting up the system was a highly involved and complicated matter.

The release stated: "As announced on 8 December 1999, BCB plans to offer a full menu of electronic banking, investment and trading services.

"Design, installation and implementation of BCB's e-banking, e-invest and e-trade system requires a great deal of coordination involving system architecture, hardware acquisition, telecommunications installation, design and testing of computerised software systems, integration with BCB's existing systems and data bases; design, installation and testing of state of the art security systems and `firewalls' and coordination with third parties will provide ancillary services to BCB in connection with the e-invest and e-trade services.'' It went on to state: "The bank's informational website became operational on 1 January, additional functionality will be added to web site as features of BCB's Internet banking system are complete and become operational. It is expected that the bank's client's will be able to process online account opening applications in anticipation of full functionality in the spring.'' The Bank's chairman and chief executive John Deuss unveiled the plan at the Bank's annual general meeting in December saying the service was designed to provide a comprehensive e-banking site.

The proposed system was created by Mr Garry Barret, manager of information technology at the Bank, who gave a sneak preview of the site to over 100 BCB guests last December.

At this lunch he said this system would be very safe as customers would have their own password which would be only known to themselves.

He also explained that transfers could be made from account to account and transactions could be made from the Bermuda bank to overseas banks in any currency.

The bank sees e-banking as the next step forward in the computerisation of their service.

E-banking will operate as a joint venture between Bermuda Commercial Bank and its major shareholder First Curacao International.