November 17, 2003 |
These are cynical times, and journalists are a cynical bunch. But that's no reason not to give proper credit to a large corporation -- indeed, pretty much to an entire industry --that figures out how to do right by consumers while doing right by itself. This thought occurred to me a few weeks ago while I was reviewing my Bank of America checking account via the bank's Web site.
July 25, 2001 |
Visa USA and four major banks took direct aim at the check-cashing industry Tuesday by rolling out a prepaid card that can replace paychecks for workers who don't have bank accounts. Employers can "deposit" employee wages onto the cards, and workers can then use the plastic to withdraw cash at automated teller machines, pay for purchases at stores that accept Visa credit cards and even pay certain bills, said Nizam Antoo, Visa's product manager for the card.
November 2, 2000 |
Two of the biggest banks in America and IBM Corp. are setting up a new, electronic processing system that could greatly reduce bank costs in handling paper checks. The system, known as Viewpointe Archive Services, also will make it possible for consumers to get copies of their checks from Web sites and automated teller machines maintained by banks. The system--launched by Bank of America Corp., headquartered in Charlotte, N.C.
August 14, 2000 |
With a population smaller than Greater Los Angeles, Finland leads the world in electronic banking, surpassing such financial powerhouses as the United States, Germany and Japan. But by embracing technology to bridge the vast distances across which Finland's 5.4 million residents are scattered, a Nordic banking consortium has sprinted ahead of the big players and set a standard for service and security that more weighty competitors will need years to match.
August 6, 2000 |
Two years ago, Internet-only banks vowed to swim circles around traditional financial institutions, which the virtual crowd predicted would sink under the weight of old-fashioned branches and costly infrastructure. Today, it is the branchless banks that are barely treading water. Despite offering substantially higher rates on deposits, budding Net-based banks as a group have scraped together little more than one-tenth of 1% of the nation's bank deposits.
January 18, 2000
Alfred Zipf, 82, Bank of America executive considered the father of electronic banking. In a four-decade career with the bank, Zipf rose from a Los Angeles transit clerk sorting checks by hand in 1935 to senior administrative officer in charge of the California branch operation and computer system in 1976.