Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Bank of America offers services to more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500.
Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and ...view middle of the document...
3. What does your interactions with an ATM machine suggest to you about using information systems (i.e. how might you generalize the interactions between the customer and the system?)? [list]
4. Compare and contrast the benefits to the bank and to you of deploying a global ATM network.
Homework Layout: Bank of America Case
1. List the likely core business functions ( (high level; major business and financial services) performed at Bank of America as part of its product and service offerings?
Core Bank of America Business Function: | Activities within the Core Function |
Financial Management | * Updating general ledger * Managing accounts payable * Collecting accounts receivable * Executing risk reporting and compliance * Managing cash flow * Managing investment assets * Updating general ledger * Managing accounts payable * Collecting accounts receivable * Executing risk reporting and compliance * Managing cash flow * Managing investment assets |
Risk Management | * Analyzing the risk of your business * Helping in maximum reducing the risk of repaying |
Investing | * Helping analyzing and suggesting in investing |
People Management | * Maintaining a intimate, proactive and personalized relationship with customers * Customer service 24/7; hotline * Employee management |
Sales Management | * Maintaining an active presence in the social media scene by using Instagram, Facebook, Twitter to promote products * Contact clients via email, chat and phone to sell products * Promoting products from small companies to large corporate firms |
2. List the steps (in sequence) required in a typical ATM transaction, such as drawing out cash or transferring funds from one account to another, and briefly explain why each of these steps is necessary. Use a table to organize your response and do not overlook steps in the process that are performed either by the ATM system or by information systems housed within the BoA’s centralized data center.
Steps by Customer | Steps by ATM System | Steps by other BoA Systems | Why necessary |
Insert your debit...