Bank of America Base

By David F. Carr  |  Posted 2002-05-15 Email Print this article Print
 
 
 
 
 
 
 

Payday is a great day, usually. But for thousands of Bank of America customers, it was the worst, as their electronic deposits vanished.

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Bank of America Base Case

Headquarters: Bank of America Corporate Center, 100 N. Tryon St., Charlotte, NC 28255

Phone: (888) 279-3457

Business: Third-largest bank in the U.S., with 4,500 branches in 21 states; provides retail and commercial banking, credit card and asset-management services

Chief Information Officer: Tim Arnoult, Technology and Operations Executive

Financials in 2001: $53.1 billion in revenue, $6.8 billion in net income, net profit margin 12.7%

Challenge: Maintain effective customer service and increase profitability, while consolidating assets acquired through mergers in the late 1990s

Baseline Goals:

  • Grow earnings per share 10% a year
  • Grow revenue by 6% to 9% a year
  • Achieve 20% return on equity, each year
  • Increase percentage of highly satisfied customers to 56%, from 42%


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    David F. Carr David F. Carr is the Technology Editor for Baseline Magazine, a Ziff Davis publication focused on information technology and its management, with an emphasis on measurable, bottom-line results. He wrote two of Baseline's cover stories focused on the role of technology in disaster recovery, one focused on the response to the tsunami in Indonesia and another on the City of New Orleans after Hurricane Katrina.David has been the author or co-author of many Baseline Case Dissections on corporate technology successes and failures (such as the role of Kmart's inept supply chain implementation in its decline versus Wal-Mart or the successful use of technology to create new market opportunities for office furniture maker Herman Miller). He has also written about the FAA's halting attempts to modernize air traffic control, and in 2003 he traveled to Sierra Leone and Liberia to report on the role of technology in United Nations peacekeeping.David joined Baseline prior to the launch of the magazine in 2001 and helped define popular elements of the magazine such as Gotcha!, which offers cautionary tales about technology pitfalls and how to avoid them.
     
     
     
     
     
     

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