bank of america case study - enterprise architecture in mobile banking
DESCRIPTION
Presented in Fall 2012 at VCU in a graduate course on enterprise architectureTRANSCRIPT
BANK OF AMERICAEnterprise Architecture in Mobile Banking
AGENDA
AGENDAWhy are we here1.Public Image2.Current State 3.Culture
Mobile Banking1.Industry2.Consumer trends3.Dollars & Sense
Recommendations1.Problems 2.Solutions
Recap
2006 BAC 54.85 2012 BAC 8.00
Pre-Recession•Solid Financially•Nations largest bank•Many acquisitions
Post-Recession•Mortgage crisis = black eye•Debit Card Usage Fee
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
CULTURE
CULTUREDeliver
Trust
OpportunityEmbrace
Responsibility
CULTUREDeliver
Trust
OpportunityEmbrace
Responsibility
Diversity Community Sustainability
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
Mobile Banking IndustryTrends and Projections
Mobile Banking Industry
10,000,000Number of users in 2009
Mobile Banking Industry
37,000,000Number of users in 2014
Bank of America
3 years1st 4 million mobile customers
Bank of America
3,000,000New mobile customers in last 12 months
Projected growth of mobile banking
0
5
10
15
20
2007 2008 2009 2010 2011 2012 2013 2014 2015
Current GrowthContinued GrowthProjected growth of mobile banking
0
5
10
15
20
2007 2008 2009 2010 2011 2012 2013 2014 2015
Current GrowthContinued GrowthProjected growth of mobile banking
Mobile Industry
87%U.S. Population with mobile phone
2012 Federal Reserve Study
Mobile Industry
44%U.S. Population with smartphone
2012 Federal Reserve Study
Mobile Industry
20%Americans with mobile phone and bank account
conducting mobile banking in last 90 days
2012 Federal Reserve Study
Customers adapt as technology evolves
Dollars and Sense
• Cost per customer cheaper than other alternatives
Dollars and Sense
• Cost per customer cheaper than other alternatives• How can we make our customers life a little more
simple and efficient?
Dollars and Sense
• 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 = $$$
OPEN BAC 8.00 NOW BAC 12.00
A rich experience will engage consumers, build our brand and increase customer satisfaction and retention rates !DOUGLAS BROWN SVP, Mobile Product Development
Recommendations
1.2xProjected smartphone growth
1.2x + 3xProjected smartphone growth 2011 Tablet growth
Transaction History Debt
-------- Income
Credit History
Transaction History Debt
-------- Income
Credit History
Transaction History Debt
-------- Income
Credit History
Transaction History
Debt -------- Income
Credit History
Transaction History
Debt -------- Income
Credit History
Transaction History
Debt -------- Income
Credit History
Transaction History
Debt -------- Income
Credit History
Transaction History
Debt -------- Income
Credit History
Online Banking Experience
Transaction History
Mobile Banking Experience
Transaction History
Transaction History
Transaction History
What does this mean?
How can you improve?
Transaction History
What does this mean?
How can you improve?
Transaction History
RECAP
RECAPOPEN BAC 8.00 NOW BAC 30.00