By Peter Ruber D igital certificates encrypt online messages and verify senders and receivers. Financial institutions are banking on these pricy tools to ease their customers' fears about transactions on the Web. Just a couple of years ago, if you wanted to do electronic banking you had to install proprietary software on your computer, then have your modem dial a private telephone number at your bank.
Some banks still work that way.
But today, users can also bank on the Internet. And they can do much more than just view their balance or check old statements. They can open and close accounts, move money between accounts, pay bills, and buy and sell stocks through a bank's discount brokerage unit. Financial institutions benefit, too. Many credit card organizations and utilities, for instance, are developing systems to lower the costs of preparing and mailing out millions of statements each month.