Case Study
Bank of America: Mobile Banking
April 29, 2014
AMBA 650 section 9040
Professor Boyle
TABLE OF CONTENTS
I. CASE SUMMARY 3
II. KEY ISSUES 4
III. ANALYSIS AND EVALUATION 4
IV. RECOMMENDATIONS 7
Appendix A: REFERENCES 13
I. CASE SUMMARY
Bank of America (BoA), established their online presence in the early 1990s. The goal was to provide their customers with the convenience of accessing account information, transferring money, and viewing transaction detail. In 2006, BoA noticed that mobile phone users were growing at an exceptional rate and identified a new platform to service their customers, mobile banking. The mobile banking service offered by BoA included mobile app and mobile web browser. This excluded the third method of mobile banking, mobile messaging (SMS), since Jen McDonald (Head of BoA Digital Marketing Group) felt strongly that the other two options offered a better experience for the customer. Therefore, BoA left a large market untouched. In 2008, BoA was the first bank to introduce their app on the iPhone and an incredible response by customers with their app users growing by 1 million every six months. The app was mainly used for account balances and transaction detail. Douglas Brow, SVP of Mobile Product Development at BoA, received positive responses for the credit card and mortgages lines of business at BoA. Both businesses are requesting adding additional features on the app that cater to their specific businesses; allowing customers to conduct credit card and mortgage transactions through the mobile app. Douglas Brown is concerned about the level of stress this would put on the system and additional costs. Therefore, Douglas Brown, Jen McDonald, and David Carrel (SVP of Strategy and Analysis at Starcom) are meeting to discuss how in the long-term BoA will position themselves in the fast changing industry. And in the short-term, what they will decide to do...