Sprint and Bank of America sign communications network agreement
October 17, 2002--Sprint and Bank of America today announced a 10-year communications services agreement that will help power new services for Bank of America's 28 million customers.
Sprint and Bank of America today announced a 10-year communications services agreement that will help power new services for Bank of America's 28 million customers and create one of the most advanced, secure, high-speed data networks in the financial services field, say representatives for the companies. Using Sprint's "lightwave" services, Bank of America will be able to integrate its existing networking backbone into one consolidated infrastructure, which will enable Bank of America to offer its customers secure new products and services at some of the highest available speeds, while at the same time reducing costs.
"Our commitment to continually offer our customers the most innovative products and services to meet all of their financial needs--like 'talking' ATMs and digital check imaging -- places larger demands on our communications network," explains Don Obert, technology services executive, Bank of America. "We partnered with Sprint to support our infrastructure because they provided the right combination of network capacity and technological innovation to help us meet the needs of our customers today and in the future."
Bank of America will use Sprint's backbone network to transmit and access mission-critical data, such as checks, monthly statements, and other data applications. The new network, which consists of the Sprint backbone and other telecommunications facilities, will link more than 4,400 banking centers, call centers, and data-processing units nationwide, allowing Bank of America to provide its customers with seamless financial transactions at every point of contact. Sprint's optical services also will connect more than 12,000 Bank of America ATMs around the country, enabling Bank of America to offer vivid color, sound, and speed.
"Bank of America presented a unique challenge, requiring large data speeds in an economical, secure and integrated fashion, in order to deliver critical applications to its customers and its own operations," contends Tim Kelly, president, Sprint Business. "We were able to work side-by-side with Bank of America's team to design the right solution, enabling them to continue to fulfill their commitment to delivering the best services using the latest technologies."
For more information about Sprint (Overland Park, KS), visit the company's Web site at www.sprint.com.