Introduction: Bank of America is an organization that serves clients in more than 150 countries with operations based in 40 countries, providing services ranging from investment and corporate banking to investing and equity execution services. Bank of America plans to become the world’s finest financial services company. Currently the company is faced with a tough decision in regards to the Mobile Market. They have questions regarding the apps functionalities; if the app needs more complexity? Along with considering how this decisions in the broader strategic context of how mobile banking would affect the overall growth of Bank of America and its financial services industry.
-Leading Market in the US and Brand Name- In 2009 the 10 largest banks held 46.4% of total deposits, with Bank Of America the largest U.S. bank holding company. Bank of America is also a large well-known organization that many people tend to use and trust.
-Bank of America has agreed to more than $12 billion in settlements related to mortgages. -Bank of America is the largest U.S.-based financial holding company, with a sizable U.S. presence, strong customer base, and large deposit holdings.
-Capital Management and Dividend policy- Bank of America Provides a service when you invest your money with them. They will provide a service to tend to your need and help you with your investments.
-Diversified range of banking and non-banking financial services & products -Bank of America has a very popular online community and is the number one position in the online and mobile banking in the country.
-Tapped Into new and expanding markets- In 2009, an estimated 10 million consumers used mobile banking in the U.S.; by 2014 this number was expected to grow to 37 million, 7 representing 30% of the total expected...
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