AOL rolls out service with top Brazilian bank

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America Online Latin America (AOL-LA) has partnered with leading Brazilian bank Banco Itau to launch an online financial service.

For AOL-LA, the deal is an attempt to bolster its number of clients in the region's largest market. For the Brazilian bank, hooking up with AOL boosts its battle against other banks for the growing number of the country's online clients and opens its services to AOL-LA's 314,000 users in the region.

Itau took a 12 percent stake in AOL-LA last year and is prepared to pour more investment into the U.S.-Venezuelan Web company.

Copyright January 2001, Crain Communications Inc.

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