Thursday, May 16, 2019
Bank of America case analysis Essay
Problem statementThe primary(prenominal) problem in this case is that whether wedge of America add the complicate app and add more than sensitive features or not. If they add the new complexity application, it could cost lot of money, and it could also springiness their users some shun effect. Like the case described it is unclear if users were ready to sign up for mortgages or credit card game on their mobile phones. BofA concerns about how the mobile banking affect their customers. Because behavioral factor is very important that do people to accept the new things reluctantly or not. From the market survey we know that thither atomic number 18 three main reasons that people not to use the mobile banking concerns of security, cost of data, less value. So if bank of America want to add their new app or add more futures, they should cope with those three factors at first.RecommendationI think bank of America should add new apps, because they can get advance about their custom er loyalty and satisfaction, and they can gain more market share form this way. If they didnt build it, maybe they will behind that of other banks. Another reason is that with the development of the communication technology, there will be have full of the customers have their smartphone rather than the regular phones, so it can give bank of America more confidence to add app for smartphone customers. One of the most reasons for people not apply mobile banking is the security concern. So how to improve security on peoples mobile gismos has bring to pass a very important thing. They can make an external device for their mobile banking. The external device can insert into the headphone jack on smartphone. After the connection, customer should slide their card, and then clay will be prompted to enter some personal authentication information, and then will send a message for their smartphone to get the verification code before use the mobile banking to do their account activities. n ode can get this external device for free if they open an account at bank of America. nevertheless if they lost it they should pay it for $30 to get another. This external device can make sure that customers fathert have to worry about security issues. With this security problem solved, BofA will gain more customers and more market shares.