Bank of America clocks up 15 million e-banking customers

Bank of America clocks up 15 million e-banking customers

Bank of America says it now has around 15 million Web banking customers, which amounts to more than a third of the entire online banking market in the US.

According to figures from ComStock Networks, more than one in three Web banking customers in the US use BoA's services.

Sales of products via the bank's Web site totalled 3.8 million in 2005, an increase of 69%. This included 2.3 million online activations, 380,000 new savings accounts, 375,000 new credit card accounts and 298,000 new chequeing accounts.

Around 34% of BoA's online banking customers also use the bank's electronic bill payment service.

Sanjay Gupta, e-commerce executive, Bank of America, comments: "More customers are signing up with us and buying products online because we've made security and simplicity our top priorities."

BoA has rolled out a number of enhancements to its e-banking service over the past year, including its SiteKey two factor authentication system and a new alert service that allows customers to receive account information over their mobile handsets, PDAs or via e-mail. The bank has also expanded its live text chat service to help answer consumer questions about Web banking.

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