Bank of America Case Study Questions
1. What are the core business processes1 (i.e. high level; major business and financial services) performed at Bank of America as part of its product and service offerings?
Core Bank of America Business Process:
Activities within the Core Process people management recruiting performance management staff development payroll benefits administration financial management general ledger accounts payable accounts receivable reporting and compliance cash management asset management supply-chain management work-in-process inventory production process operation management logistics information technology sales force management automate sales contact management system sales lead tracking system sales forecasting
2. List the sequential, descriptive steps required in a typical ATM transaction (your choice), such as drawing out cash or transferring funds from one account to another. Be sure to include those steps executed by local ATM system itself as well as those done by information systems housed within the Bank’s centralized data center. Use this table to organize your responses.
To transfer funds from one account to another:
Steps by Customer
Steps by ATM System
Steps by other Banking Systems
Go to the bank
Introduce you credit card
Go to the online page
Request in cash the amount of money to transfer
Select make a transfer and put the amount
Go in your account and select to make a transfer
Fill a form and deposit that amount in the other account
Select from what account to what account
Put the amount of money and the transfer is made that exact moment
3. Why do the core processes at the Bank of America require centralized information systems?
a. . Gain control over the organization’s information
b. . Integrated by the use of vendors and technology
c. . Easier to meet individual needs
d. . When acquiring Merril Lynch they became even bigger and needed to methods of control
4. What information is generated as part of ATM business processes and how are they
Core Bank of America Business Process:
Activities within the Core Process people management recruiting performance management staff development payroll benefits administration financial management general ledger accounts payable accounts receivable reporting and compliance cash management asset management supply-chain management work-in-process inventory production process operation management logistics information technology sales force management automate sales contact management system sales lead tracking system sales forecasting
2. List the sequential, descriptive steps required in a typical ATM transaction (your choice), such as drawing out cash or transferring funds from one account to another. Be sure to include those steps executed by local ATM system itself as well as those done by information systems housed within the Bank’s centralized data center. Use this table to organize your responses.
To transfer funds from one account to another:
Steps by Customer
Steps by ATM System
Steps by other Banking Systems
Go to the bank
Introduce you credit card
Go to the online page
Request in cash the amount of money to transfer
Select make a transfer and put the amount
Go in your account and select to make a transfer
Fill a form and deposit that amount in the other account
Select from what account to what account
Put the amount of money and the transfer is made that exact moment
3. Why do the core processes at the Bank of America require centralized information systems?
a. . Gain control over the organization’s information
b. . Integrated by the use of vendors and technology
c. . Easier to meet individual needs
d. . When acquiring Merril Lynch they became even bigger and needed to methods of control
4. What information is generated as part of ATM business processes and how are they