Bank of America and Technology Based on

Bank of America and Technology.

Based on experience, give examples of how management at your company expects technology to improve business. Discuss how your company's current technology is meeting or not meeting business needs.

The Bank of America (BOA), the nation's premier bank and one of the premier banks in the world, is highly dependent on technology for meeting its business needs. On few occassions does it find itself being disappointed. Most times, it finds technology meeting its neeeds.

On the simple level, BOA uses its computers to store customer account information on its servers as well as employing accounting software. Computers are also invaluable for number crunching accurately solving inordinately complex equations in seconds. The bank also uses computers for user authentications, aside from which computers, used as network, connect the various BOA units and their customers so that all are kept in instant and effective intercommunication and are…… [Read More]

Bank of America SWOT Analysis Bank of

Bank of America SWOT Analysis:

Bank of America is one of the principal financial institutions across the globe with a broad range of customers that include individuals, small businesses, middle-market businesses and large corporations. The company also has a diverse range of products and services including asset management, banking, investing and other financial products. Currently, Bank of America is regarded as America's largest bank holding company in assets and the second largest in market capitalization ("SWOT Analysis of Bank of America," 2010). Bank of America basically operates in the United States, Europe, Canada and Latin America with its headquarters in Charlotte, North Carolina.

In addition to having a workforce of 284,000 employees, the company serves a diverse range of customers in over 150 countries around the world and has a strong relationship with the Fortune Global 500 companies. Since it market position is supported by a well-established distribution network which…… [Read More]

Bank of America's Strategic Initiatives The Traditional

Bank of America's Strategic Initiatives:

The traditional ways in which banks operate have been broken down by the recent political, socio-economic and technological changes that have occurred around the world. The recent changes have also influenced the economic trends, which have had a significant impact on the banking industry. Banks have largely been involved in product and geographical expansion in foreign and emerging markets because of globalization and deregulation. Notably, this process of expansion in the banking industry has been accelerated by the implementation of new technologies.

However, recent economic trends have also resulted in an essential change in the distribution and cost structure of financial services. This is because more non-banking institutions and online sources are offering banking business products because of the occurrence of disintermediation. Consequently, banks have been forced to alter their operations and change their ways of conducting business because of the resultant increased pressure on…… [Read More]

Bank of America Financial Analysis

Key findings from the analysis are provided here:

Income Statement Variance Analysis

Bank of America achieved a 37.4% increase in revenue between 12/31/05 and 12/31/06, driven by acquisitions and organic growth in etail Banking and Card Services. Cost of evenue increased 53% in the same fiscal period.

Net Income increased 28% from $16.4B to $21.2B also driven by the acquisitions completed during the period. As a result Earnings per Share on a Net Income Diluted basis rose 13.61% from $4.04 to $4.59.

In the period between 6/30/06 and 3/31/07, evenues increased 5.4%, or $1.6B based on revenues of $28.8B rising to $30.4B. Cost of evenues in the same fiscal period rose $1.8B from $11.6B to $13.2B.

Net Income during the period of 6/30/06 to 3/31/07 dropped $220M from $5.4B to $5.2B, a 4% reduction in Net Income during the period.

Balance Sheet Variance Analysis

The most significant variance sin the…… [Read More]

Bank of America SWOT Analysis

Bank of America was one of the largest recipients of the troubled assets relief program (TAP) which was created in 2008. The U.S. Government made the terms of the TAP program very favorable to the bank. As a result, in December, 2009 the bank was able to repurchase all shares of TAP Preferred Stock. Paying off TAP quickly saved the bank over $25M which would have been cash outflow as dividend payments. As a result of choosing to pay this off quickly, the bank will be able to move closer to profitability.

Second, the wealth management business unit has significant potential due to the acquisition of Merrill Lynch and LaSalle, the U.S. subsidiary of ABN Amro. These two acquisitions bring a much greater depth of services and product depth to the company, in addition to much greater diversity of clients globally. It also provides the wealth management business unit with…… [Read More]

Bank of America Discussion Boa

Top among them were reduction in administrative costs, better self reporting for the impact of the gifts, more financial security within the organization, and a positive return on the investment among others. These all contribute to a positive mind-set in regards to high net-worth contributors.

It has been stated the larger charitable organization such as "toys for Tots" and the MD foundation have bloated administrative costs that consume more that 50% of the donations before it ever reaches its intended recipient. Charities would do well to assure that their administrative costs are in order as well as their back office and financial management. High net-worth donors usually have a keen eye for well run organizations and as espoused by this report, is a key factor in their desire to commit resources to any institution.

eferences

Indiana University. (2006). 'Bank of America: study of high net-worth philanthropy.' The Center of Philanthropy…… [Read More]

Bank of America As Part of Its

Bank of America:

As part of its digital efforts and strategy, Bank of America introduced its mobile banking strategy in May 2007 to enable its customers to access services through their mobile phones. Through the initiative, the bank's customers can access services via applications on their smartphones, mobile web browser, and short message service (SMS) that was launched few months later. The mobile banking strategy proved to be a huge success since the bank had four million mobile banking customers three years after the launch. The company has continued to receive requests from line-of-business managers to leverage the mobile platform through the development of mobile application functionalities for their respective businesses. However, the financial firm has been hesitant to add complex features to its mobile applications on the basis that it could negatively affect users through slowing down the application.

Strategic Issues and Problems:

Bank of America's mobile banking strategy…… [Read More]

Bank of America Business Proposal Case Study

BofA

The Bank of America is one of the country's largest retail banks. It is mid-2009, the recession has been declared to be over but there is still a lot of economic uncertainty, and the Bank must set strategy going forward. Traditionally, the bank has grown through acquisitions, and there are a lot of low-priced assets in the financial industry right now. However, any acquisition must fit with the bank's overall strategy and its current financial position. The bank has just complete a major merger and that is one strategic issue, the ongoing economic troubles in particular in the housing market is another major issue, and at this point another issue is simply defining what the bank will look like going forward. Therefore, this is as much about setting strategy as it is about implementing strategy.

BCG Matrix

The BCG Matrix is a means by which the company's strategic position…… [Read More]

Bank of America Annual Report

A most useful means of revealing just how affected it was, is that of analyzing the annual report. The data for 2008 indicates a strong company with an ability to develop and implement the most adequate strategies, but which also reveals increased levels of sensitivity relative to the industry. Also, 2009 came to confirm the suspicions relating to deepening financial challenges on the part of the bank and holding organization.

In response to these difficulties, the Obama administration has created the Troubled Assets elief Program, a plan which aims of create a state bank to purchase the underperforming stocks from the Bank of America and other banks. A simpler and more efficient solution however would be that of eliminating the mark-to-market accounting technique. The measure would ensure that the assets of the Bank of America and other players in the banking industry are not continually depreciated. This would in turn…… [Read More]

Strategic Audit on Bank of America

Bank of America: Life's Better When We're Connected

Strategic Audit & Analysis

Current Situation

Bank of America, as of 2010 was the 5th largest company in the United States by total revenue and the second largest non-oil company in the United States following Wal-Mart. Bank of America was listed by Forbes as the third largest company in the world. In 2008, Bank of American acquired Merrill Lynch making Bank of America the world's largest wealth manager as well as being a major player in the investment banking industry. eports state that Bank of America "received U.S. $20 billion in the federal bailout from the U.S. government through the Troubled Asset elief Program (TAP) on 16 January 2009 and also got guarantee of U.S. $118 billion in potential losses at the company. This was in addition to the $25 billion given to them in the Fall of 2008 through TAP." (Business…… [Read More]

Strategic Plan for Bank of America

Bank of America

Vision and Mission Statement and Long-Term Objectives

The mission statement of Bank of America (BOA) is that the actions of individuals working in tandem build strong communities and businesses such as BOA are obligated to support the communities that it operates in and serves. The vision of the BOA Company is to become the finest financial corporation in the world. Thus, the Bank of America plans to use its proficiencies to generate economic value in the communities and regions where its customers live and work. The purpose of the company is to assist in improving the financial lives of its consumers and clients. The long-term objectives of the BOA include increasing its market share, increasing its consumer base, increasing its level of profitability, decreasing its overhead expenses, and decreasing the service fees that it incurs (Bank of America Website, 2015).

Bank of America's Background as an organization…… [Read More]

Business Plan for Bank of America Merrill Lynch

Merrill Lynch

During the depths of the financial crisis in September 2008, the Bank of America agreed to purchase troubled investment bank Merrill Lynch. The deal, valued at $50 billion, created a bank that rivaled Citigroup as one of the largest in the United States by assets (AP, 2008). The deal created a combination retail/investment bank that had multiple revenue streams and expanded Bank of America's international presence as well. The deal capped off a run of acquisitions made by Bank of America. Previously, it has acquired MNBA in 2006, that company being one of the largest issuers of credit cards in the world (AP, 2006). In January of 2008, BoA purchased struggling mortgage banker Countrywide Bank in a deal that now ranks as one of the worst ever in the banking industry, costing Bank of America nearly $31 billion on top of the $4 billion acquisition cost (Ovide, 2011).…… [Read More]

Exploring a Possible Place to Work Bank of America

Business - Companies

Bank of America

In the last half of the 20th century, North Caroline National Bank (NCNB) began a string of acquirements that ultimately pulled together more than several thousand banks, and fashioned today's Bank of America. They have retained their headquarters in Charlotte, North Carolina, and have grown to be a global business. Through the years, generation after generation, the financial institutions that are part of their legacy have played a role in the development of this country's culture and economy. ith a pledge to awaiting the needs of their customers and a drive to spark opportunity, Bank of America continues a proud tradition of improvement, performance and service (Our Heritage, 2010).

Facts and Findings

Bank of America is committed to making opportunities possible for customers and clients by reacting to their financial needs, helping compel economic growth and supporting the neighborhoods where they do business. The…… [Read More]

Motivational Strategies in Bank of America Given

Motivational Strategies in Bank of America:

Given that several motivational strategies have a significant effect in the productivity of any workplace, Bank of America understands that the company's success is mainly dependent on employee satisfaction. The Bank and its associates hire and recruit qualified employee regardless of their gender, color, national origin, religion, age, race, citizenship and disability status among other factors. This reveals the management's philosophy and practice of promoting and supporting the idea of equal employment opportunity and positive action. As part of the management's employee motivational strategy, the Bank forbids discrimination on any grounds such as marital status, or medical condition among others. In order to guarantee success of the Bank and employee satisfaction, the Bank of America has a Global Human esource team which plays an integral role.

Global Human esource Team:

The Global Human esource team is an important department to the Bank of America…… [Read More]

Evaluation of Jp Morgan Bank of America and Citigroup Privacy Policies

Privacy Policies of P Morgan, Bank of America and Citigroup

The P Morgan, Bank of America and Citigroup are the top three American banks with reference to their assets and revenues. Operating in different countries, these banks are the major actors in the U.S. financial industry. The objective of this paper is to explore the privacy policies of the P Morgan, Bank of America and Citigroup. Moreover, the study explores the mission statements of the three companies, and the strategies the companies can employ in improving their privacy policies.

Bank of America

The BOA (Bank of America) is one of the leading financial institutions in the United States. Headquartered in Charlotte, the Bank of America ranks the second largest financial institution in term of the asset. In 2013, the Bank of America is the 21st largest company in term of revenue in the United States. At the end of 2015…… [Read More]

Boa Commercial Bank of America Commercial Portrats

BoA Commercial

Bank of America Commercial "Portrats"

Bank of America -- Ad of the Day (Thielman, 2013)

This advertisement shows a retro family as they progress through the years. It captures some of the family's memories which include some of the things that the children were involved in. Bank of America is leveraging its history as well as it services by showing the family as it progresses through time. At the end of the commercial, Bank of America admits that it is not a service that defines the family, rather one that allows the family to spend more time on the important aspects of the family's life.

hat product/brand does the marketing initiative support? How would you classify the product -- convenience, shopping, or specialty product, or is the "product" a service? hy do you say this?

Bank of America is advertising its brand and its comprehensive financial service portfolio…… [Read More]

Work Situation Standard Chartered Bank in America

Work Situation

Standard Chartered Bank in America Houston, Texas

Standard Chartered Bank is a multinational bank with several branches across the world offering different financial services in different regions. The bank is headquartered in New York City with operations in New Jersey, Florida, Houston Texas and California. The bank has been in operation in the U.S. since 1902 and has been employing thousands of the Americans. Its main focus in the U.S. is whole sale banking where it offers products and services in trade finance, treasury, foreign exchange and interest rate products, cash management, commodity finance and structured import and export financial services (Standard Chartered Bank, 2008).

My position at Standard Chartered Bank as my new company will be the Marketing Manager based in Houston. The job description will be to develop and maintain marketing strategies for the branch. I will be required to conduct market research establish what the…… [Read More]

Banks Improper Foreclosure and Mortgage Practices in

Banks

Improper Foreclosure and Mortgage Practices in the Banking Industry

Efficient Market Hypothesis

Real Estate Bubble

Sub-Prime Mortgages

Overview on the Value of Banks

Arguments against Financial Intermediaries

Ethical Violations

This research paper aims to shed light into what led to the global financial collapse that, for the most part, began in the U.S. housing market and the ethical implications that followed. Many researchers agree that the primary drivers that led to the real estate crisis was the lifting of the Glass Steagall Act, the fostering of sub-prime lending, and the creation of derivatives and credit default swaps which were used as complex financial instruments. This offered the big five banks an entire new range of operating opportunities. All of these financial tools were justified by the efficient market hypothesis and as a consequence provide evidence for the lack of a truly efficient market. As a result of the financial…… [Read More]

America- Democracy or Plutocracy The United States

America- Democracy or Plutocracy?

The United States of America is often hailed as the first and greatest modern democracy in the world. Most Americans believe that the United States is the example the rest of the world should emulate, and that it offers its citizens the power to make decisions through its free and fair elections. Yet at the same time, others say that the United States of America has ceased to be a democracy and instead become a plutocracy. A plutocracy is a state that is ruled by the wealthiest people, rather than by free and fair elections in which all citizens have an equal voice. Recent political developments have caused fear from those who believe the United States is moving toward plutocracy, but at the same time, other equally important developments have shown that it remains, at least for the time being, a democracy.

Although the United States…… [Read More]

America Has Never Been a Nation to

America has never been a nation to create solutions to problems that have yet to occur. The prevailing wisdom was that terrorism and the need for a unified intelligence gathering community geared specifically to detect and protect against terrorism was uneccessary because terrorism simply wasn't an American problem. This reasoning however has been proven to have been extremely naive. In the wake of 9/11, our nation has come to the very real understanding that bureaucratic infighting, territorial law and intelligence agencies, and a total complacence on the part of the U.S. citizenry left us wide open for attacks. All of the security measures now in place or being considered (all of which in some part are in place in virtually every other western nation) could have been in place long ago and could have prevented 9/11. But, as our government does not spend money on possibilities but rather in responses,…… [Read More]

Strategic Options With Banks the

Another bank that provides similar cash management services that the Acme Company could use is represented by HSBC. Its services are differently organized than in the case of Bank of America. egarding international services, HSBC focuses on checking, borrowing, savings, insurance, cards, and other services (HSBC, 2011). Corporate banking services that are provided by HSBC focus on collections management, financing, foreign exchange, global markets, Internet banking, payments and cash management, trade services, and others.

In addition to this, HSBC provides services regarding trade and supply chain that can be used by the Acme Company in order to increase the efficiency of its supply chain management in South America and Asia. HSBC also provides several services that multinational companies can address in order to manage their business accounts. The bank also focuses on developing foreign exchange solutions.

Citibank is another bank that provides different business banking services. The company's products and…… [Read More]

Shareholder Value as America Watched

The only ones who will gain from these measures are the CEOs, managers, and Board of Directors. Shareholders will suffer through the actions of the few. Due diligence will be rewarded with dwindling returns for the shareholder.

Does Shareholder Value Matter Any More?

The old theory was that if banks took care of shareholder value, everything else would fall into place (Nocera 2009). Shareholders were considered one of the most important responsibilities that executives had. This was how it used to be. However, recent events make it apparent that creating shareholder value has a downside as well. As managers struggle to increase shareholder value, they ignore many business basics. They increased value has not real foundation and soon, as the company collapses under the debt loads used to create the perceived value, it is shareholders that have he most to lose (Nocera 2009).

Lately, the focus has been on getting…… [Read More]

Forming a Bank Holding Company

Forming a ank Holding Company - Structure, Governance, and Regulations

Understanding anks

Forming and Expanding a ank Holding Company

Financial Holding Company Requirements

HC Regulations

Capital uilding Options for ank Holding Companies

Pros and Cons of Forming a ank Holding Company

Stocks and Governance

Corporate Governance and anking Law

The Role of ank and Holding Company Audit Committees

Data Gathering Method

Database of Study

Summary, Conclusions and Recommendations

Forming a ank Holding Company - Structure, Governance, and Regulations

This research paper describes the process of forming a bank holding company in the United States. The behavior of a bank holding company is strongly linked to the success of the banks it holds. Therefore, if business leaders can pinpoint how to set up a successful holding structure, they may have a better chance of successfully progressing their business.

Chapter 1 - Introduction

Statement of the Problem

Over the past few decades,…… [Read More]

Bail Out Homeowners Instead of Banks

all Street Bailout -- Part II

all Street Bailout

The government-orchestrated bailout of the banks has been hailed and yet also condemned due to its perceived efficacy or lack thereof. Jeffrey Fuhrer suggested a path that was a lot cheaper and perhaps a lot less encouraging and propagating of the bad habits of banks and government entities that led to the crisis. This alternative, of course, was the individual homeowner bailout. Indeed, bailing out homeowners directly would have cost a mere fraction of what it did indeed cost to bail out Citibank, ells Fargo and the other banks. However, neither solution alone has a clear advantage over the other when looking at all relevant circumstances. hile doing a homeowner bailout would have had its merits, doing just the bank or homeowner bailouts individually probably would not have been as effective as doing them both in concert.

Analysis

This report will…… [Read More]

Bank Insure That the Level

In 2003, new procedures were created and they state that "companies accredited with receiving money relating to public subscription in securities must take all necessary measures to ensure the legality of the sources of the money used in the payment of such securities, in compliance with the provisions laid down in the Prevention and Prohibition of Money Laundering and its Implementing egulations" (Terterov and euvid, 2005).

Banking institutions are also focused on reducing money laundering and the principal actions they implement in this endeavor are those of fully complying with the regulations imposed by the central banks and the legislations in their home countries. More recently, the banks can access technological innovations to fight money laundering, such as LexisNexis's Bridger Insight XGTM (Tech 4 Law). But since the access to technologies is different at each bank, a conclusion is drawn that the internal reactions to money laundering are different. The…… [Read More]

America's War on Terrorism Since the Attacks

America's War on Terrorism since the attacks of eptember 11th, 2001.

America's war on Terrorism since 9/11 has largely been conducted in intensifying domestic security in all areas. The highlight has been capturing Osama bin Laden, followed by a phased extraction of the American Army out of Iraq. Nonetheless, security alert is on an all-time high and Defense receives a high proportion of fiscal allocation and focus.

government has also stepped up its surveillance system constructing a highly intricate and controversial eavesdropping data-system base that is run by the National ecurity Agency and contains trillions of e-mails, web searches and commercial transactions." (McGregor 2011)). A similar system, on as massive a scale, will almost be complete in an Antonio, Texas. Both of these systems support the NA's headquarters in Fort Meade, Maryland and house everything "from records of phone calls to and from Iran to credit card purchases by potential…… [Read More]

America's Failed Economy Analysis

Aggregate demand is something that is a topic of interest. The Obama Administration bailed out banks in the United States and Wolff mentions Great Britain in a sense bailed out their banks by continuously printing and borrowing money. Banks are the reason for shift in aggregate supply and thus aggregate demand. The United States government as Wolff remarks, gives limitless credit and almost zero interest on banks, supplying them with an endless source of money to do as they will. They took risks because of this endless source and it led to the aforementioned bailout.
From this risk emerged ‘credit default swamps’ that served as insurance for loans but were not regulated as insurance. The biggest one, AIG, had banks come to them to ask for reimbursement for defaulted loans. Companies like AIG could not pay and thus the banking crisis occurred. Although banks like Goldman Sachs emerged unscathed, from…… [Read More]

Why America Is Not the Greatest

America

While every American wants to believe that America is the greatest country, the reality is that in order to be the greatest, a country has to work hard at it. That means having the best systems, and constantly working to improve the country in all aspects. There are some things that America does better than any other country, to be sure. But using many objective measures, it is clear that there are ways in which America stands to improve its performance. Indeed, looking at this issues is a critical component of keeping America on top. A country that buys into the rhetoric that it is the greatest will start to believe its own hype. That country will start to think that it will always be the greatest, just by showing up. But nations all over the world are working hard to make themselves better, and as a result many…… [Read More]

Management Leading and Collaborating in a Competitive World

Bank of America: Organizing Function of Management

Bank of America is the leading commercial financial institution of the United States. Founded in 1874, the bank has a long history of offering financial services to large and small businesses and individuals in America and abroad. Bank of America couldn't possibly have been where it is today without an efficient Human resource management system and good and effective use of technology. The company places great emphasis on human resource development right from the start. For starters it has a good hiring policy that ignores differences of race, sex, color and creed. The bank has truly been an equal opportunity employer. BoA has also been focusing on appropriate job design by offering job rotation and enlargement so each individual can get the best out of the position at which he/she is serving. It has been trying to improve its job design so every…… [Read More]

Commonwealth Bank of Australia Retail Banking Service

Commonwealth Bank of Australia

etail Banking Service

Premium Business Services

Wealth Management

Marketing Strategies at CBA

Suggestions

Competitor Analysis

National Australia Bank

Australian and New Zealand Banking Group

Western Pacific Bank

Sustainable Competitive Advantage

Mobile Application

One Stop Solution

Commonwealth Bank of Australia

Commonwealth Bank of Australia:

Headquartered in Sydney, Australia, Commonwealth Bank of Australia or CBA is one of the four large banks of Australia. The bank was established in 1911 as a government bank, since then, it has seen tremendous growth. Today, Commonwealth Bank of Australia is a multinational bank with operations across United States of America (USA), United Kingdom (UK), Fiji, New Zeeland and Asia. The bank got privatized in 1996, with issuances of shares worth 1.2 Billion USD in 1991, 1.7 Billion USD in 1993, and 5 Billion USD in 1996. As of January, 2008, Commonwealth Bank of Australia was the second largest Australian listed company…… [Read More]