BayBank Pioneers Internet Banking with Interactive College Student Site

Strategic Insights -

BayBank, a pioneer in the adoption of Internet banking, has launched an innovative World Wide Web site targeted specifically at college students. This interactive site, accessible at http://www.BayBank.com, features a "BayBank Hall" that recreates a typical New England college dorm, complete with a bulletin board, dorm rooms, and other interactive elements. The site aims to educate students about banking while providing a fun and entertaining experience.

Key Takeaways:

  • The BayBank student-focused Web site is designed to be interactive, fun, and educational, with features such as a bulletin board, dorm rooms, and a RealAudio component.
  • The site has a segmentation strategy that will target other groups on the Internet in the future, building on the success of the college student-focused site.
  • The creative focus of the BayBank student Web site is "BayBank Hall," a cyberspace re-creation of a typical New England college dorm that entertains and educates college students.
  • The site features a mystery or story line, where students can follow clues and gather information, with the goal of opening the door to another room in the hall for more surprises.
  • The site also includes a post office where students can ask questions and send E-mail messages to BayBank, and a gateway to dorm rooms with interactive capabilities.
  • The graphics are leading edge, the language is casual, and the emphasis is on fun throughout the BayBank Hall.
  • BayBank's senior vice president, Robert P. Shay Jr., notes that the site is designed to stimulate repeat visits as clues become available and are gathered step by step.

Statistics:

  • BayBank Systems Inc. is a subsidiary of Boston-based BayBanks Inc., one of New England's largest bank holding companies with assets of $11 billion at June 30, 1995.
  • The BayBank student student-focused Web site is a part of the company's annual "Student Rush" campaign, targeted to students from nearly 65 colleges in eastern Massachusetts and beyond.
  • The campaign is an eight-week stretch, during which college students are encouraged to do business with BayBank through advertising, direct mail, campus visits, and the Internet.
  • The BayBank student Web site is accessible at http://www.BayBank.com.

Sources:

  • Business Wire, "BayBank Pioneers Internet Banking with Interactive College Student Site" (Sept. 12, 1995)
  • BayBank Systems Inc. press release, "Introduction of the first bank Web site on the Internet for college students; BayBank's cyberspace segmentation strategy" (Sept. 12, 1995)