NEW YORK (PRNewswire/)– FleetBoston Financial, the eighth-largest financial holding company in the U.S., said that it plans to join Spectrum, L.L.C., as both a participating bank and as an owner. Spectrum is an independent company formed in October 1999 by Chase Manhattan Bank, First Union Corp. and Wells Fargo to facilitate and quicken the exchange of electronic bills.
Including the three founders, 24 financial institutions currently belong to the Spectrum network or have signed letters of intent to participate in the network. For more information about the network, visit www.spectrumebp.com.
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