Bank of America's goal is to be the world's most admired company, and to help them achieve this goal the company's management team needs the aid of technology. Without technology Bank of America would not be exactly where it is today. It is the nations leading consumer bank with $160 billion more then its closest competitor, Wells Fargo & Co. from San Francisco. Technology has played its role in assisting with improving and shaping all aspects of business performed at the Bank of America corporation.
Having worked for Bank of America for about five years one is able concur that the returns department, which I am a part of, has gradually kept up with the technological advancements. In today's
banking industry the competition is always high so management has to do whatever it takes to ensure the customers satisfaction. In order to make sure this happens management must first verify it is working to its full potential.
When I was initially employed at Bank of America in August of 2001 several things were not in place. For example, employees did not have computers but instead had dumb terminals. So apparently no internet access was in place either.
The dumb terminals were not conventional and were almost an inconvenience because the functions they could perform were very limited. Therefore, the time it took to process the work was double the time it takes today. Additionally, the volume of work was much heavier due to the lack of advanced equipment.
Management soon realized it needed to incorporate technology into our department to stay on top of the competition. Indeed, all the employees were assigned personal computers ...