BANK OF

AMERICA:MOBILE
BANKING
Group 4:
Naveen Thakur , Nipun Mahajan ,Neha Ahuja
,Monika Upadhyay , Ajmi Fatima , Anzar
Quadri , Raghav Aggarwal
 Problems

Decision making dilemma whether to add more functionalities to the

mobile banking app or not?

There was reluctance form customers in accepting mobile banking

Inorganic growth via multiple acquisitions of which acquisition of

Merrill lynch led to declining customer trust and lower share price.

Financial crisis adversely affected the financial industry as it caused

credit freeze and reduced customer spending.
 Analysis
Strength: Weakness
Diversified Portfolio. Rumors and controversies
Political and Legal:
Largest bank in US affected Banks’s Image
which led to loss of US govt. provided
serving 53 million guarantee of 20
customers. customer trust billion dollars and in
Competition from other turn took control of Economic
Bank was Customer 36% ownership
Centric banks Due to financial
Crisis, Customers
Enormous Brand value. reined in their
spending

SWOT
Environmental
Mobile banking will
lead to paperless
PESTEL
Socio-cultural
banking
Opportunities Threat Behavioural; factors
like their financial
Rise in the use of Financial Crisis habits also affects
smartphones and iPhone Threat from existing banking sector
Tapping customers with players
regular phone

Technology
SMS.WAP,RFID,NFC
 SOLUTIONS
Solutions Best Practices
Creating Value of mobile Post Purchase consumer
AND BEST
banking in the eyes of
consumer
experience- Efficient
customer relationship
PRACTICES
Improving Security of management practices
mobile banking such as online survey , Net
promoter score etc.
During financial crisis, Bank
was using its website to
help their customers
understand TARP and its
impact on program