bank of america case study - enterprise architecture in mobile banking
DESCRIPTION
Presented in Fall 2012 at VCU in a graduate course on enterprise architectureTRANSCRIPT
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BANK OF AMERICAEnterprise Architecture in Mobile Banking
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AGENDA
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AGENDAWhy are we here1.Public Image2.Current State 3.Culture
Mobile Banking1.Industry2.Consumer trends3.Dollars & Sense
Recommendations1.Problems 2.Solutions
Recap
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2006 BAC 54.85 2012 BAC 8.00
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Pre-Recession•Solid Financially•Nations largest bank•Many acquisitions
Post-Recession•Mortgage crisis = black eye•Debit Card Usage Fee
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Pre-Recession•Solid Financially•Nations largest bank•Many acquisitions
Post-Recession•Mortgage crisis = black eye•Debit Card Usage Fee
Brand ranking went from
14th worldwide to 92nd
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CULTURE
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CULTUREDeliver
Trust
OpportunityEmbrace
Responsibility
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CULTUREDeliver
Trust
OpportunityEmbrace
Responsibility
Diversity Community Sustainability
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We offer the best in banking convenience, clarity and choice, through solutions that meet consumers’ needs at every stage of their financial lives.SHAMEKA HILLAGE Banking Center Manager
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Mobile Banking IndustryTrends and Projections
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Mobile Banking Industry
10,000,000Number of users in 2009
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Mobile Banking Industry
37,000,000Number of users in 2014
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Bank of America
3 years1st 4 million mobile customers
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Bank of America
3,000,000New mobile customers in last 12 months
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Projected growth of mobile banking
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2007 2008 2009 2010 2011 2012 2013 2014 2015
Current GrowthContinued GrowthProjected growth of mobile banking
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2007 2008 2009 2010 2011 2012 2013 2014 2015
Current GrowthContinued GrowthProjected growth of mobile banking
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Mobile Industry
87%U.S. Population with mobile phone
2012 Federal Reserve Study
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Mobile Industry
44%U.S. Population with smartphone
2012 Federal Reserve Study
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Mobile Industry
20%Americans with mobile phone and bank account
conducting mobile banking in last 90 days
2012 Federal Reserve Study
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Customers adapt as technology evolves
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Dollars and Sense
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• Cost per customer cheaper than other alternatives
Dollars and Sense
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• Cost per customer cheaper than other alternatives• How can we make our customers life a little more
simple and efficient?
Dollars and Sense
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• Cost per customer cheaper than other alternatives• How can we make our customers life a little more
simple and efficient?
Dollars and Sense
⬆service + ⬇cost = $$$
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OPEN BAC 8.00 NOW BAC 12.00
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A rich experience will engage consumers, build our brand and increase customer satisfaction and retention rates !DOUGLAS BROWN SVP, Mobile Product Development
Recommendations
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1.2xProjected smartphone growth
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1.2x + 3xProjected smartphone growth 2011 Tablet growth
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Transaction History Debt
-------- Income
Credit History
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Transaction History Debt
-------- Income
Credit History
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Transaction History Debt
-------- Income
Credit History
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Transaction History
Debt -------- Income
Credit History
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Transaction History
Debt -------- Income
Credit History
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Transaction History
Debt -------- Income
Credit History
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Transaction History
Debt -------- Income
Credit History
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Transaction History
Debt -------- Income
Credit History
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Online Banking Experience
Transaction History
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Mobile Banking Experience
Transaction History
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Transaction History
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Transaction History
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What does this mean?
How can you improve?
Transaction History
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What does this mean?
How can you improve?
Transaction History
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RECAP
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RECAPOPEN BAC 8.00 NOW BAC 30.00