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To: BeverlyB7 who wrote (772)	12/18/1998 7:17:00 AM
From: Benny Baga	Respond to of 20297

BofA Initiative Aims To Enhance Bank's Online Offerings electronicbanker.com In a bid to grow its electronic commerce business, Bank of America , San Francisco, is forming a new division that will develop enhanced electronic payment services and, more generally, help shape online banking strategy for the $595-billion institution. The group will seek to offer retail and business customers with payment, cash management and direct banking applications, supporting the bank's existing card, direct banking, transaction and other business lines. Chris Callero, group executive vice president, is heading the new unit and will report to Ken Lewis, president of consumer and commercial banking, and Jim Dixon, president of technology and operations. Callero, who started with Bank of America in 1971 as a mailroom clerk, says that customers today expect a variety of payment options, such as debit cards and electronic banking. In turn, this is driving the bank, the second largest institution in the nation based on assets, to shore up its online bill presentment and Internet-based banking offerings. In addition to adding new services, the new group will forge ties with online payment technology vendors. Callero says the bank also is considering ways to offer financial services through a range of new technologies, including interactive television and hand-held computers. Benny