Capital G Bank joined the Internet banking era this week when it launched its retail online banking product.

The CapGonline service, which has been undergoing testing for several months, went live on Monday with 3,000 Capital G customers signed up.

Capital G chief executive officer and president James Gibbons said: “I am extremely proud and pleased with the online banking product. We have delivered on one of our key objectives for 2006 in providing complete and holistic banking solutions for our customers.

“It was important for us to review current trends and technology options and develop an Internet solution that meets and surpasses the needs of our customers. The launch of this important initiative closes an important gap between Capital G and other banking institutions on the island. We are now in a position to compete more aggressively and increase Capital G’s market share,” added Mr. Gibbons.

CapGonline.com will offer users the ability to monitor their accounts, pay bills, wire and transfer funds both internationally and domestically, order drafts, open new accounts and manage their investments seamlessly, a statement from the bank said.

The statement added that the system has many unique features such as reminders which can be sent to either your cell phone or e-mail. It also has a multi-level authentication system, providing users with an enhanced level of security. Customers can be assured that their financial transactions are protected and will remain confidential.

To start with, the system will be used by 3,000 loyal customers who will experience the new product during December and January. Online banking will become available to the remainder of the community in February.

“We have many loyal customers who have been patiently waiting for us to introduce online banking,” stated Richard Doughty, executive vice president and chief operating officer of Capital G. “We felt it was appropriate to launch the site to them first and allow them to experience the product prior to its official launch in 2007.”