Gartner Research

Ariba and Bank of America Form Bank-Based Trading Hub

Published: 05 April 2000

ID: G00191345

Analyst(s): Pierre Mitchell

Summary

Ariba and Bank of America (BofA) have formed a trading community to serve Bank of America's 2 million customers. The community will offer hosted procurement services, including access to BofA contracted spending currently totaling about $7B. Other services include procurement cards, integration services, and payment services like electronic invoicing and electronic funds transfers. Services, like eCredit and leasing services, were not announced, but will likely appear. A new wholly-owned subsidiary, Banc of America Marketplace LLC, will host the community. It is expected to go live in 18 months. It also plans to offer its services to other trading communities.

©2019 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner is a registered trademark of Gartner, Inc. and its affiliates. This publication may not be reproduced or distributed in any form without Gartner’s prior written permission. It consists of the opinions of Gartner’s research organization, which should not be construed as statements of fact. While the information contained in this publication has been obtained from sources believed to be reliable, Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartner research may address legal and financial issues, Gartner does not provide legal or investment advice and its research should not be construed or used as such. Your access and use of this publication are governed by Gartner’s Usage Policy. Gartner prides itself on its reputation for independence and objectivity. Its research is produced independently by its research organization without input or influence from any third party. For further information, see Guiding Principles on Independence and Objectivity.

Already have a Gartner Account?

Become a client