For example the cooperation between ABN AMRO and KPN in relation to the launch of the ‘Money Planet’ Internet site. A third consequence is that new suppliers can enter the market more easily. In the virtual world, barriers to entry are significantly lower. There is no longer a need for an extensive branch office network, for example.
Lower entry barriers mean more suppliers in the market, which intensifies competition. These suppliers may take different forms. They may be existing banks originating from other countries. These banks can use the Internet to bring about a rapid internationalisation of their activities.