BofA Nevada And Sprint Join Forces To Offer Enhanced Home Banking Services

Business Wire, April 1, 1996

LAS VEGAS--(BUSINESS WIRE)--April 1, 1996--Bank of America Nevada and Sprint today announced a joint agreement to enhance the bank's current home banking service via Sprint's PowerTouch 350, a new state-of-the-art telephone, which combines personal computer and telephone functions.

Use of the PowerTouch 350 will allow BofA Nevada customers to perform many banking transactions using the phone's soft key buttons, much like an ATM. Home banking customers will be able to see their transactions on the phone's large, backlit screen, rather than simply hear them, as they do now through the bank's interactive voice response system.

According to BofA Nevada Executive Vice President Randy Dawson, director of the Consumer Banking Division, BofA is the first financial institution in Nevada to offer home banking services via a telephone screen with visual features.

"This joint agreement brings together the best technology and capabilities of both the bank and Sprint Telephone to deliver the highest quality and most convenient home banking services available," Dawson said. "In today's fast-paced environment, consumers are seeking convenience and options. Home banking, via the PowerTouch 350, gives customers another choice in when, where and how they choose to bank."

To access the bank's Bank By Phone service via the PowerTouch 350, a customer simply selects banking from the phone's built-in directory. Prompts then guide the customer through such functions as checking an account balance, transferring funds, making loan payments, or paying bills from a customized bill paying list of up to 99 merchants.

"It's a little like having your own ATM in your office or kitchen," added Dawson. "Using the PowerTouch 350 will give BofA customers more control over their banking with a very user-friendly tool."

According to A. LaMont Eanes, vice president of consumer markets for Sprint Local Telecommunications Division, the agreement with Bank of America allows Sprint to be even more customer focused. "While Bank of America focuses on home banking applications, we can focus on complimentary telephone features and services, providing optimum value in one package."

In addition to being a convenient home banking tool, the PowerTouch 350 is also a high-tech telephone with such features as a 50-name personal directory, call log with 25-number memory, speakerphone and printer capabilities.

However, according to Eanes, the PowerTouch 350's most significant telephony feature is the ability to bring Call Waiting and Caller ID together. "Before interrupting your call, you can check the screen to see who's calling while you are on the line with someone else," Eanes added.

As new interactive telephone services become available, customers will be able to access them via the PowerTouch 350. Such services may include home shopping, real estate listings, stock market quotes and sports highlights.

While BofA's Bank By Phone services are currently free, the PowerTouch 350 is available from Sprint for only $248.97, plus tax, or twelve monthly payments of $22.50 with approved credit.

"The PowerTouch 350 is another of Sprint's communications tools designed to make our customer's daily life just a little simpler," stated Eanes. "The PowerTouch 350 combines the power of a personal computer with the ease and convenience of a telephone."

Sprint is a global communications company -- at the forefront in integrating long distance, local and wireless communications services, and the world's largest carrier of Internet traffic. Sprint built and operates the United States' only nationwide all digital, fiber-optic network and is the leader in advanced data communications services. Sprint has $12.6 billion in annual revenues and serves more than 15 million businesses and residential customers.

BofA is the largest bank in Nevada, with over $4.1 billion in total assets, 84 branches and more than 660 ATMs statewide. BankAmerica Corporation, the parent company of BofA Nevada, is one of the largest bank holding companies in the United States, with over $232 billion in assets and operates 1,950 branches and over 6,600 ATMs in 10 western states and Illinois.

CONTACT: Bank of America Nevada, Las Vegas

Paul C. Stowell, 702/654-8428

or

Sprint

Cindy Parks, 913/624-3398