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More Entries in the Online B2B Banking Field

Competition in the business-to-business online banking arena is heating up.

Another company has announced an entry in the field, following rapidly on the heels of last week's announcement by USABancShares.com that it will launch a new, private label Web site to serve the online banking needs of business-to-business e-commerce customers. And a third Internet banking company has expanded its offerings.

Banking B2B this week launched its e-business financing Web site, offering online working capital credit to small businesses.

And nFront Inc., an outsourcer and provider of Internet banking services for small- to mid-size financial institutions, established a partnership with Nexchange Corp., an affiliate marketing and merchandising company, to provide online shopping at nFront's member banks.

Through the Banking B2B site, companies will be able to apply for credit, receive approval and manage their accounts online.

"There needs to be an intermediary who can stand for the e-business transaction when the buying/selling companies don't know each other or haven't dealt with each other in the off-line world, and we plan to be that intermediary," said Kelly Jones, president of Banking B2B.

With a Banking B2B account, customers can provide credit verification to new trading partners without having to provide detailed financial information, the company said.

"In essence, we want to put cash management back into the hands of the borrower, providing them 24x7 online control over their credit account," Jones said.

The Nexchange deal will offer nFront's 210 member banks the ability to access Nexchange's network of retailers, which will provide the banks' end-users the opportunity to purchase name-brand products sold by Nexchange retailers online.

The relationship with Nexchange will give participating nFront member banks management of the end-user experience, Web site co-branding and significant revenue opportunities, nFront said.

Nexchange ensures the "look and feel" of the bank's Web site will be maintained throughout the end-users' shopping experience. Once shopping is complete, end-users will resume their banking activities at the bank's Web site.

Under the terms of the agreement, participating nFront member banks will have the opportunity to generate revenue -- ranging from five to 30 percent -- from the purchases made from their Web site.

Endorsed by the American Bankers Association, nFront provides fully transactional Internet banking development and implementation, Web site design, maintenance and hosting, customer service training and support, and marketing consulting services.

Meanwhile, USABancShares.com said that under the brand B2Banc.com, its site (to launch this month) will provide FDIC-insured banking services and a series of customized financial packages designed for B-to-B site operators to include ISP access and long distance service.

B2Banc.com said it will target both new and existing B-to-B sites in terms of establishing online affiliations, and will focus on servicing the billing and payment functions at those sites.

B2Banc.com customers will have automatic purchasing power at affiliate sites, directly linking their business bank accounts with vendors who provide online products and services.