RateNet was jointly developed by DataTrac, PR Newswire (discussed in the February 7, 1997 Scout Report) and IDC Financial Publishing. RateNet connects consumers to financial institutions on the Internet by providing a ranking service for the banking industry. Users may examine the current and historic interest rates of over 11,000 financial institutions from 175 markets across America. There are also 116 RateNet indices which monitor the deposit and lending rates for 776 of the largest institutions.