Gartner Research

Ariba and Bank of America Form Bank-Based Trading Hub

Published: 05 April 2000

ID: G00191345

Analyst(s): Pierre Mitchell


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.

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