Bank of America case analysis Essay

Problem statementThe master(prenominal) problem in this eccentric is that whether bank of America hang on the complicate app and join on more reinvigorated features or not. If they add the new complexity application, it could cost lot of money, and it could to a fault give their users some negative effect. Like the case described it is ill-defined if users were ready to sign up for mortgages or credit cards on their winding phones. BofA concerns about how the mobile banking affect their customers. Because behavioral factor is precise important that made people to accept the new things reluctantly or not. From the commercialise survey we know that there are three main reasons that people not to use the mobile banking concerns of protection, 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 kindle get onward motion about their customer loyalty and satisfaction, and they can clear more market share form this way. If they didnt build it, maybe they bequeath croupe that of other banks. Another reason is that with the development of the communication technology, there will be adjudge 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 using mobile banking is the security concern. So how to improve security on peoples mobile devices has become a very important thing. They can make an away device for their mobile banking. The foreign device can insert into the phone jack on smartphone. After the connection, customer should slide their card, and and so clay will be prompted to enter some personal authentication information, and then will send a message for their smartphone to get the verification enrol before use the mobile banking to do their account activities. Customer can get this external device for free if they open an account at bank of America. But if they lost it they should pay it for $30 to get another. This external device can make sure that customers dont have to worry about security issues. With this security problem solved, BofA will gain more customers and more market shares.