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Technology Stocks : CheckFree (CKFR)
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To: Mike Milde who wrote (7540)9/15/1998 10:29:00 AM
From: AE  Read Replies (2) of 8545
 
I thought BofA was merging with Nations Bank. If this is true isn't Nations a big CKFR customer?

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Date: Tuesday, September 15, 1998
Source: INFORMATIONWEEK
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INFORMATIONWEEK via NewsEdge Corporation : Bank of America is mulling the online billing business, according to sources close to the company, and may reveal plans in the fall to let customers at its Web site pay invoices from various merchants.

But the bank apparently won't follow large rivals such as Chase Manhattan that are team- ing with service providers CheckFree Corp. or MSFDC. A spokesman says Bank of America is not testing bill presentment technology from either vendor.

One of the sources says the bank may build its own system, using technology from third-party vendors.

Gary Craft, an online billing expert at BancBoston Robertson Stephens, says it's likely that Bank of America will try the bill-consolidator market. He says the bank will try to recruit corporate billers whose customer base overlaps with its own.

But large companies want to control their own bills, and Bank of America is having a difficult time getting takers, according to the source. The bank has managed to get its credit-card division to agree to present its bills on the site when it gets off the ground.

Copyright - 1998 CMP Media Inc.

By Gregory Dalton

<<INFORMATIONWEEK -- 09-14-98, p. PG500>>
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