BofA's 'Customer Voice' Sounds Off in ePayments

Bank Technology News, May, 2004 by John Adams

Bank of America's execs list a number of reasons for the institution's sweeping success in the bank Internet bill-payment market, most notably their "voice of the customer" program that's an integral part of the business case built for almost all product rollouts. The program has paid off bigtime for the bank, which still owes a least some of its e-payment success to being the first to discover that the choice between paying for something and not paying for something is a simple one for consumers.

As the bank publicly outlines how its complex customer models and easy-to-use technological enhancements have allowed it to seize more than 50 percent of the entire bank bill-payment market, the roots of that made that gaudy number possible lay in its simple decision to not charge...

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