Bank of America Case Study - Enterprise Architecture in Mobile Banking

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