November 13, 2007
A Small-Biz Site, Not a Corporate One in Disguise
Daniel Wolfe’s article is a case study of BofA’s successful online banking site designed specifically for small-business owners.
“In 2005, with help from the New York software provider CashEdge Inc., B of A designed its Online Business Suite from the ground up to address what its bankers had identified as problem areas for serving small businesses. Now, ‘Forty percent of our customers are active at servicing their business online, so ... [it is] very popular,’ and the adoption rate is catching up to the one for B of A's consumer services, Mr. Hogan said. He would not say how much of the increased adoption resulted from changes to B of A's small-business offering two years ago, except to say, ‘Small business probably lagged behind a few years, and now they're catching up.’"