SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

      Date of Report (Date of earliest event reported): September 30, 1998

                     SECURITY FIRST TECHNOLOGIES CORPORATION
                     ---------------------------------------
             (Exact name of registrant as specified in its charter)

          DELAWARE                      000-24931                 58-2395199
          --------                      ---------                 ----------
(State or other jurisdiction           (Commission               (IRS Employer
      of incorporation)               File Number)           Identification No.)


           3390 PEACHTREE ROAD, NE, SUITE 1700, ATLANTA, GEORGIA 30326
           -----------------------------------------------------------
                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (404) 812-6300
                                                            ---------------

                                 NOT APPLICABLE
           -----------------------------------------------------------
          (Former name or former address, if changed since last report)
<PAGE>
ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS.

          On  October  1,  1998,  Security  First  Technologies  Corporation,  a
Delaware  corporation  (the  "Company")  announced  that  it had  completed  its
previously  announced plan to sell (the "Sale") the banking business of Security
First Network Bank, a federally chartered savings bank ("SFNB"), to RBC Holdings
(Delaware) Inc. ("RBC Holdings"),  a U.S. subsidiary of the Royal Bank of Canada
("Royal Bank").  The Sale was effected after  consummation of the Reorganization
(described  below) through the September 30, 1998 sale of the outstanding  stock
of New Security First Network Bank ("New Bank") to RBC Holdings  pursuant to the
Stock Purchase Agreement,  among Royal Bank, RBC Holdings, SFNB and the Company,
as amended (the "Royal Bank  Agreement").  The Royal Bank  Agreement is filed as
Exhibit 10.1 hereto and is incorporated herein by reference.

ITEM 5.  OTHER EVENTS.

          On October 1, 1998,  the Company  announced  that it had completed its
previously  announced  plan to  effect a  holding  company  reorganization  (the
"Reorganization") of SFNB and Security First Technologies, Inc. ("S1"), pursuant
to the Second  Amended and  Restated  Plan of  Reorganization,  as amended  (the
"Plan"),  among SFNB,  the Company and New Bank.  In the  Reorganization,  which
occurred on September  30, 1998,  S1, which  formerly was a subsidiary  of SFNB,
become a subsidiary of the Company,  SFNB's banking  business was contributed to
New Bank, the Company  acquired SFNB's  non-banking  business and SFNB dissolved
voluntarily  pursuant  to the  rules  and  regulations  of the  Office of Thrift
Supervision. The Plan is filed as Exhibit 10.2 hereto and is incorporated herein
by reference.

         On October 1, 1998,  the Company also announced that it had completed a
private  placement  of  749,064  shares  of the  Company's  Series B  Redeemable
Convertible  Preferred Stock to State Farm Mutual  Automobile  Insurance Company
("State Farm") for an aggregate  purchase  price of $10 million  pursuant to the
Stock Purchase Agreement, dated as of June 29, 1998, among SFNB, the Company and
State Farm (the "State Farm  Agreement").  The State Farm  Agreement is filed as
Exhibit 10.3 hereto and is incorporated herein by reference.

         Also,  on October 1, 1998,  the Company  issued  129,702  shares of the
Company's  common  stock  to  BroadVision,  Inc.  ("BroadVision")  in a  private
placement and BroadVision  issued 123,001 shares of BroadVision  common stock to
the  Company  in a private  placement  pursuant  to the  Common  Stock  Purchase
Agreement, made as of June 30, 1998, among BroadVision, the Company and SFNB.
<PAGE>
ITEM 7.           FINANCIAL STATEMENTS AND EXHIBITS.

(a)      Not applicable.

(b)      Pro forma financial information.

         The following  information is incorporated herein by reference from the
section of the Proxy  Statement/Prospectus  captioned  "Pro  Forma  Consolidated
Financial Statements" that forms a part of Pre-Effective  Amendment No. 3 to the
Company's Registration Statement on Form S-4 (File No. 333-56181) filed with the
Securities and Exchange Commission on August 25, 1998:

         Pro Forma Consolidated Balance Sheet at June 30, 1998 (Unaudited).

         Pro Forma  Consolidated  Statements  of  Operations  for the six months
         ended June 30, 1998 (Unaudited).

         Pro Forma  Consolidated  Statements  of  Operations  for the year ended
         December 31, 1997 (Unaudited).

         Notes to Consolidated Pro Forma Financial Statements (Unaudited).

(c)      Exhibits.

         Exhibit
         No.               Description
         ---               -----------

         10.1              Stock Purchase Agreement,  dated as of March 9, 1998,
                           by and  among  Royal  Bank of  Canada,  RBC  Holdings
                           (Delaware) Inc., Security First Network Bank ("SFNB")
                           and  Security  First  Technologies  Corporation  (the
                           "Company"),  as amended on June 5, 1998  (attached as
                           Appendix  C to the  Proxy  Statement/Prospectus  that
                           formed a part of the Company's Registration Statement
                           on Form S-4 (File No.  333-56181)  filed with the SEC
                           on  June  5,   1998  and   incorporated   herein   by
                           reference).

         10.2              Second  Amended and Restated Plan of  Reorganization,
                           dated as of March 9,  1998,  by and among  SFNB,  the
                           Company  and New  Security  First  Network  Bank,  as
                           amended on June 4, 1998 and September 25, 1998.

         10.3              Stock Purchase Agreement,  dated as of June 29, 1998,
                           by and among SFNB,  the Company and State Farm Mutual
                           Automobile  Insurance  Company (filed as Exhibit 10.4
                           to  Pre-Effective  Amendment  No. 2 to the  Company's
                           Registration   Statement   on  Form  S-4   (File  No.
                           333-56181)  filed with the SEC on August 21, 1998 and
                           incorporated herein by reference).


<PAGE>
                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                     SECURITY FIRST TECHNOLOGIES CORPORATION
                     ---------------------------------------
                     (Registrant)


                     /s/ Robert F. Stockwell
                     -----------------------------------
                     Robert F. Stockwell
                     Chief Financial Officer, Treasurer
                        and Secretary



Date: October 13, 1998



<PAGE>
                                  EXHIBIT INDEX

         Exhibit
         No.               Description
         ---               -----------

         10.1              Stock Purchase Agreement,  dated as of March 9, 1998,
                           by and  among  Royal  Bank of  Canada,  RBC  Holdings
                           (Delaware) Inc., Security First Network Bank ("SFNB")
                           and  Security  First  Technologies  Corporation  (the
                           "Company"),  as amended on June 5, 1998  (attached as
                           Appendix  C to the  Proxy  Statement/Prospectus  that
                           formed a part of the Company's Registration Statement
                           on Form S-4 (File No.  333-56181)  filed with the SEC
                           on  June  5,   1998  and   incorporated   herein   by
                           reference).

         10.2              Second  Amended and Restated Plan of  Reorganization,
                           dated as of March 9,  1998,  by and among  SFNB,  the
                           Company  and New  Security  First  Network  Bank,  as
                           amended on June 4, 1998 and September 25, 1998.

         10.3              Stock Purchase Agreement,  dated as of June 29, 1998,
                           by and among SFNB,  the Company and State Farm Mutual
                           Automobile  Insurance  Company (filed as Exhibit 10.4
                           to  Pre-Effective  Amendment  No. 2 to the  Company's
                           Registration   Statement   on  Form  S-4   (File  No.
                           333-56181)  filed with the SEC on August 21, 1998 and
                           incorporated herein by reference).
[{"type": "8-K", "sequence": "1", "description": "FORM 8-K", "secsgml_size_bytes": 9284}]
{"company-data": {"conformed-name": "SECURITY FIRST TECHNOLOGIES CORP", "cik": "0001063254", "assigned-sic": "7370", "irs-number": "582395199", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-24931", "film-number": "98725497"}, "business-address": {"street1": "3390 PEACHTREE ROAD NE", "street2": "SUITE 1700", "city": "ATLANTA", "state": "GA", "zip": "30326", "phone": "4048126300"}, "mail-address": {"street1": "3390 PEACHTREE ROAD NE", "street2": "SUITE 1700", "city": "ATLANTA", "state": "GA", "zip": "30326"}}
SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

      Date of Report (Date of earliest event reported): September 30, 1998

                     SECURITY FIRST TECHNOLOGIES CORPORATION
                     ---------------------------------------
             (Exact name of registrant as specified in its charter)

          DELAWARE                      000-24931                 58-2395199
          --------                      ---------                 ----------
(State or other jurisdiction           (Commission               (IRS Employer
      of incorporation)               File Number)           Identification No.)

           3390 PEACHTREE ROAD, NE, SUITE 1700, ATLANTA, GEORGIA 30326
           -----------------------------------------------------------
                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (404) 812-6300
                                                            ---------------

                                 NOT APPLICABLE
           -----------------------------------------------------------
          (Former name or former address, if changed since last report)
ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS.

          On  October  1,  1998,  Security  First  Technologies  Corporation,  a
Delaware  corporation  (the  "Company")  announced  that  it had  completed  its
previously  announced plan to sell (the "Sale") the banking business of Security
First Network Bank, a federally chartered savings bank ("SFNB"), to RBC Holdings
(Delaware) Inc. ("RBC Holdings"),  a U.S. subsidiary of the Royal Bank of Canada
("Royal Bank").  The Sale was effected after  consummation of the Reorganization
(described  below) through the September 30, 1998 sale of the outstanding  stock
of New Security First Network Bank ("New Bank") to RBC Holdings  pursuant to the
Stock Purchase Agreement,  among Royal Bank, RBC Holdings, SFNB and the Company,
as amended (the "Royal Bank  Agreement").  The Royal Bank  Agreement is filed as
Exhibit 10.1 hereto and is incorporated herein by reference.

ITEM 5.  OTHER EVENTS.

          On October 1, 1998,  the Company  announced  that it had completed its
previously  announced  plan to  effect a  holding  company  reorganization  (the
"Reorganization") of SFNB and Security First Technologies, Inc. ("S1"), pursuant
to the Second  Amended and  Restated  Plan of  Reorganization,  as amended  (the
"Plan"),  among SFNB,  the Company and New Bank.  In the  Reorganization,  which
occurred on September  30, 1998,  S1, which  formerly was a subsidiary  of SFNB,
become a subsidiary of the Company,  SFNB's banking  business was contributed to
New Bank, the Company  acquired SFNB's  non-banking  business and SFNB dissolved
voluntarily  pursuant  to the  rules  and  regulations  of the  Office of Thrift
Supervision. The Plan is filed as Exhibit 10.2 hereto and is incorporated herein
by reference.

         On October 1, 1998,  the Company also announced that it had completed a
private  placement  of  749,064  shares  of the  Company's  Series B  Redeemable
Convertible  Preferred Stock to State Farm Mutual  Automobile  Insurance Company
("State Farm") for an aggregate  purchase  price of $10 million  pursuant to the
Stock Purchase Agreement, dated as of June 29, 1998, among SFNB, the Company and
State Farm (the "State Farm  Agreement").  The State Farm  Agreement is filed as
Exhibit 10.3 hereto and is incorporated herein by reference.

         Also,  on October 1, 1998,  the Company  issued  129,702  shares of the
Company's  common  stock  to  BroadVision,  Inc.  ("BroadVision")  in a  private
placement and BroadVision  issued 123,001 shares of BroadVision  common stock to
the  Company  in a private  placement  pursuant  to the  Common  Stock  Purchase
Agreement, made as of June 30, 1998, among BroadVision, the Company and SFNB.
ITEM 7.           FINANCIAL STATEMENTS AND EXHIBITS.

(a)      Not applicable.

(b)      Pro forma financial information.

         The following  information is incorporated herein by reference from the
section of the Proxy  Statement/Prospectus  captioned  "Pro  Forma  Consolidated
Financial Statements" that forms a part of Pre-Effective  Amendment No. 3 to the
Company's Registration Statement on Form S-4 (File No. 333-56181) filed with the
Securities and Exchange Commission on August 25, 1998:

         Pro Forma Consolidated Balance Sheet at June 30, 1998 (Unaudited).

         Pro Forma  Consolidated  Statements  of  Operations  for the six months
         ended June 30, 1998 (Unaudited).

         Pro Forma  Consolidated  Statements  of  Operations  for the year ended
         December 31, 1997 (Unaudited).

         Notes to Consolidated Pro Forma Financial Statements (Unaudited).

(c)      Exhibits.

         Exhibit
         No.               Description
         ---               -----------

         10.1              Stock Purchase Agreement,  dated as of March 9, 1998,
                           by and  among  Royal  Bank of  Canada,  RBC  Holdings
                           (Delaware) Inc., Security First Network Bank ("SFNB")
                           and  Security  First  Technologies  Corporation  (the
                           "Company"),  as amended on June 5, 1998  (attached as
                           Appendix  C to the  Proxy  Statement/Prospectus  that
                           formed a part of the Company's Registration Statement
                           on Form S-4 (File No.  333-56181)  filed with the SEC
                           on  June  5,   1998  and   incorporated   herein   by
                           reference).

         10.2              Second  Amended and Restated Plan of  Reorganization,
                           dated as of March 9,  1998,  by and among  SFNB,  the
                           Company  and New  Security  First  Network  Bank,  as
                           amended on June 4, 1998 and September 25, 1998.

         10.3              Stock Purchase Agreement,  dated as of June 29, 1998,
                           by and among SFNB,  the Company and State Farm Mutual
                           Automobile  Insurance  Company (filed as Exhibit 10.4
                           to  Pre-Effective  Amendment  No. 2 to the  Company's
                           Registration   Statement   on  Form  S-4   (File  No.
                           333-56181)  filed with the SEC on August 21, 1998 and
                           incorporated herein by reference).
SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                     SECURITY FIRST TECHNOLOGIES CORPORATION
                     ---------------------------------------
                     (Registrant)

                     /s/ Robert F. Stockwell
                     -----------------------------------
                     Robert F. Stockwell
                     Chief Financial Officer, Treasurer
                        and Secretary

Date: October 13, 1998
EXHIBIT INDEX

         Exhibit
         No.               Description
         ---               -----------

         10.1              Stock Purchase Agreement,  dated as of March 9, 1998,
                           by and  among  Royal  Bank of  Canada,  RBC  Holdings
                           (Delaware) Inc., Security First Network Bank ("SFNB")
                           and  Security  First  Technologies  Corporation  (the
                           "Company"),  as amended on June 5, 1998  (attached as
                           Appendix  C to the  Proxy  Statement/Prospectus  that
                           formed a part of the Company's Registration Statement
                           on Form S-4 (File No.  333-56181)  filed with the SEC
                           on  June  5,   1998  and   incorporated   herein   by
                           reference).

         10.2              Second  Amended and Restated Plan of  Reorganization,
                           dated as of March 9,  1998,  by and among  SFNB,  the
                           Company  and New  Security  First  Network  Bank,  as
                           amended on June 4, 1998 and September 25, 1998.

         10.3              Stock Purchase Agreement,  dated as of June 29, 1998,
                           by and among SFNB,  the Company and State Farm Mutual
                           Automobile  Insurance  Company (filed as Exhibit 10.4
                           to  Pre-Effective  Amendment  No. 2 to the  Company's
                           Registration   Statement   on  Form  S-4   (File  No.
                           333-56181)  filed with the SEC on August 21, 1998 and
                           incorporated herein by reference).