March 29, 2001, 12:00 AM

VirtualSellers launches StoreBuilder for banks’ retail customers has launched the StoreBuilder service for banks that want to offer businesses and consumers the ability to build retailing web sites.

Kurt Peters

Executive Editor Inc., a provider of enterprise application development solutions, has launched the StoreBuilder service for banks. StoreBuilder is targeted at banks that want to offer their business and consumer customers the ability to build retailing web sites and integrate that offering with existing bank offerings such as online banking, bill pay, merchant banking, cash management and payroll processing. "Banks clearly need to identify new ways to generate fee-based revenue if they want to stay competitive in the current marketplace," said Ed Sharpless, president of’s Sullivan Park division, which has developed and is marketing Store Builder. "The inherent problem with bank fees is their negative perception among customers. StoreBuilder gives banks an opportunity to grow revenue through a positive, fee-based approach with the addition of a value-added service. Studies indicate that only 3% of businesses today sell their products and services online. By 2004, it`s estimated that number will increase to more than 80%. Integrating an e-commerce presence with a merchant bank account will provide confidence to merchants who want a simple, effective way to manage an online store." The StoreBuilder program allows easy, web-based point-and-click store building tools that require no programming experience. A bank employee can sit down with a merchant and walk the merchant through a very simple process to build an online store that is fully synchronized with the merchant`s bank account. The StoreBuilder program can be installed in hours on any platform at any hosting facility or banks can partner with Sullivan Park to provide hosting and maintenance.



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