Bank of America Base Case

By Deborah Gage  |  Posted 2006-05-15 Print this article Print

Bank of America has tightened its online banking anti-fraud systems, but lack of cooperation from many customers is a major headache.

Bank of America Base Case

Headquarters: 100 N. Tryon St., Charlotte, NC 28255
Phone: (704) 386-5681
Business: Banking and financial services
Global Technology, Service and Fulfillment Executive: Barbara J. Desoer
Financials in 2005: Revenue was $56.1 billion, up 14.5% from $49 billion in 2004. Net income was $16.5 billion, up 18% from $13.9 billion in 2004.
Challenge: To complete installation of software that protects banking customers from cyberthieves while reducing calls about the software to customer service.

Baseline Goals:

• Increase number of active users of online banking services to at least 19.6 million for the full year 2006 from 14.7 million in 2005.
• Boost percentage of online customers using online bill paying to 100% in 2006 from 50% in 2005.
• Keep efficiency ratio—non-interest expenses divided by revenue—at or below 2005's 49.8%.

Senior Writer
Based in Silicon Valley, Debbie was a founding member of Ziff Davis Media's Sm@rt Partner, where she developed investigative projects and wrote a column on start-ups. She has covered the high-tech industry since 1994 and has also worked for Minnesota Public Radio, covering state politics. She has written freelance op-ed pieces on public education for the San Jose Mercury News, and has also won several national awards for her work co-producing a documentary. She has a B.A. from Minnesota State University.


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