RealTime IT News

AOL Signs Bank Marketing Deals

Dulles, VA-based America Online Inc. signed multi-year marketing pacts with five banks as part of the re-launch of its full-service Banking Center in the AOL Personal Finance Channel.

The agreements are with Bank of America, Bank One, Citibank, Union Bank of California and Wells Fargo. Financial arrangements were not disclosed. The Banking Center offers AOL members, CompuServe members and visitors to AOL's Digital City sites access to online management of checking and savings accounts, online transfers of funds between accounts and reviews of credit card information online.

The Banking Center also features tools to help consumers find the best interest rates, nearby banks, credit reports and mortgage and loan information. Dozens of local and regional banks are also accessible through the Banking Center, AOL said.

"As the mass market continues its move to cyberspace, online banking is potentially one of the most convenient and appealing functions we can offer in the personal finance space," said Jonathan Sacks, senior vice president and general manager of the AOL service.