Bank of Boston Corp. has set up a site on the World Wide Web, but it is only the most conventional of several moves the bank has made in electronic commerce.
The Internet-based site, which was posted last week, contains information on the bank's personal, corporate, and global banking divisions, its history and community involvement, and updates on economic and financial news.
But the Boston-based bank, which earlier this week announced plans to merge with crosstown rival BayBanks Inc., has already embarked on more ambitious ventures in electronic commerce. Banding together with fellow Financial Services Technology Consortium members Huntington Bancshares and Chemical Banking Corp., Bank of Boston is developing a national electronic check-writing system.
The partners tested the system recently by purchasing a teddy bear for Vice President Albert Gore, using an electronic check sent from Chemical to Bank of Boston.
The bank is also working on a more automated system for electronically processing derivatives trades and hedges.
"Having a Bank of Boston site on the information superhighway will enable retail customers to check the location of an ATM machine in Dorchester, or corporate customers to determine an investment opportunity in Sao Paulo, Brazil," said Michael Lezenski, the bank's chief technology officer.
Indeed, there are some offbeat aspects to Bank of Boston's Web page, including a link to the American Chamber of Commerce in Brazil that offers financial figures and market information about that country.
Officials said posting information is merely the first step toward greater electronic access to the bank. By mid-1996, Ray Graber, a senior consultant at the bank, said the bank would allow customers to access more specific retail and corporate product information, apply for mortgages, and download investment information.
The bank's site is located at http://www.bkb.com.