Bank Of America Mission Statement

Company: Bank of America’s major goal was to create an app that gave users the best and richest mobile banking experience possible. In 2009, the 10 largest banks held 46.6% of total deposits, with BofA the largest U.S. bank holding company. BofA’s businesses include retail banking, middle-market lending, global treasury services, global wealth management, large corporate lending, and investment banking. By 2009, BofA served over 53 million customers and small businesses, and their markets covered 82% of the U.S. population. Bof A held the No. 1 position in online and mobile banking in the country, and was the No. 1 mortgage originator and servicer in the U.S. The bank’s global wealth management business managed over $1.8 trillion in assets, and in 2009 had $119 billion in revenue with a net income of $6.2 billion. BofA’s mobile channel serves a duel role as it allows them to provide banking services to their customers, and at the same time it is a new channel for advertising and promotions.

Collaborators: Bank of America worked with David Carrel, senior vice president of Strategy and Analysis at Starcom. Carrel and Starcom were major supports for BofA’s digital efforts.

Customers that use BofA’s mobile banking are provided an unprecedented convenience so that they can do their banking on the move. Through their mobile web browser, banking customers would be able to heck account balances and transaction information, pay bills, transfer money, locate an ATM or banking center, and get mobile alerts. BofA also planned to expand their mobile banking efforts though to SMS. BofA has the ability to provide mobile banking services to all of their users, whether they have a smartphone or a regular