Category: US

Innovation, US

Bank of America is saying goodbye to "Higher Standards" and hello to "Bank of Opportunity," its new marketing theme

Colin Henderson

 Bank of America has successfully become national, and is now changing its marketing tag line.  This is in keeping with their controversial recent new offerring targeted at new immigrants in the US.  I expect this will drive some more innovation from BofA. Having established itself as the only truly nationwide bank through a string of acquisitions in recent years, Bank of America is now taking steps to become more of a national advertiser. It plans a sharp increase in ad spending this year, with its first new ad campaign since 2003. Source: WSJ.com – Login   Technorati tags: bank+of+america, US Continue reading Bank of America is saying goodbye to "Higher Standards" and hello to "Bank of Opportunity," its new marketing theme

US

Bank of America – mobile banking for 21 million customers

Colin Henderson

 This new service is a natural extension for BofA and their approach is good.  They are levering Sitekey (PassMark) to validate their customers, and let customers validate BofA. Subscribers to the free service will be able to use their cell phones and smartphones when they’re on-the-go to check account balances, pay bills and transfer money. The bank is launching the service in Tennessee beginning in March and will roll mobile banking out to markets across the country through mid-year. Source: Finextra: Bank of America to introduce m-banking This service is in addition to other cross channel services already in place. … Continue reading Bank of America – mobile banking for 21 million customers

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Finextra: Bank of America adds online money management tools

Colin Henderson

 Bank of America continues the rapid trend into budgeting/ money management tools within online banking. The new money management features give customers the ability to: Use expense categorization and budgeting tools to get more control over spending and help for future savings.  Sort transactions by account, category or date. Search for specific transactions across multiple accounts. Source: Finextra: Bank of America adds online money management tools   Technorati tags: bank+of+america, money+management Continue reading Finextra: Bank of America adds online money management tools

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Payments News: Bank CEO Investor Presentations – December 13, 2006

Colin Henderson

 Thanks to PaymentsNews for these invaluable links for presentations to Investors. Bank of America – Ken Lewis, CEO US Bank – Richard Davies, President and CEO Designate Wachovia – Ken Thompson, CEO Washington Mutual – Kerry Killinger Wells Fargo – Dick Kovacevich, CEO Source: Payments News: Bank CEO Investor Presentations – December 13, 2006   Technorati tags: banking+strategy, US Continue reading Payments News: Bank CEO Investor Presentations – December 13, 2006

Pinkomarketing, Social networks, US1 Comment

NYT | The Future of Web Ads Is in Britain

Colin Henderson

 This is a fascinating article, that leads to all kinds of thoughts about the future.  At first glance though it makes sense.  I look at Bank sites in the UK, and they look like Las Vegas, or Times Square with flashing lights, and huge billboards. ( Take a look …  Barclays, Lloyds, HBOS ).  Then look at the American equivalents, and you see a much more conservative view ( Bank of America, Wells Fargo, Citibank ) The article points out that online ad spending as a percentage of budget in the UK, is double that of the US. In the following year, … Continue reading NYT | The Future of Web Ads Is in Britain

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Toyota to set up bank – Drive.com.au (2004)

Colin Henderson

 Its quite normal for auto manufacturers to have a financial arm, but what is interesting here, is the apparent moves in Poland to operate as internet Banks. Toyota, the world’s second-largest car-maker, has received approval to set up a US banking operation as part of plans to triple the company’s earnings from financial services in two years. Toyota, the world’s second-largest car-maker, has received approval to set up a US banking operation as part of plans to triple the company’s earnings from financial services in two years. An application from Toyota’s US finance company, submitted in November 2002, was approved … Continue reading Toyota to set up bank – Drive.com.au (2004)

US

Electronic Bill Payment and Presentment – North America

Colin Henderson

The Lloyds Bank announcement bringing EBPP to UK, prompted a brief review of the state of EBPP in North America, and the lessons there. CheckFree is the primary operator in US, and epost in Canada.  Epost has just this last week been folded into the parent Canada Post (The Canadian Post office).  Epost has a somewhat unique view of the EBPP market, as it carries the rights and legal support that traditional mail would have, into the digital space.  To date the results have not been as strong as would have been hoped for, as they wrestled a difficult biller … Continue reading Electronic Bill Payment and Presentment – North America

US

Bank of America to acquire US Trust

Colin Henderson

 Based on assets under management currently by private banks. U.S. Trust is fourth, and BofA is second. The combined entity would be first, with $261 billion in assets under management. Bank of America will acquire U.S. Trust from The Charles Schwab Corporation for $3.3 billion in cash. Closing is expected on March 31, 2007. U.S. Trust was founded in 1853 with a mission to serve as manager, executor and trustee of personal and corporate funds. Today it has almost 2,100 employees based in 33 locations. It has approximately $94 billion of assets under management. Source: Bank of America | Newsroom … Continue reading Bank of America to acquire US Trust

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BankNet 360 – BofA to Expand "Disruptive" Free Services

Colin Henderson

 Bit of a teaser here from Bank of America.  Bank of America Corp.is aiming to expand its wildly successful free online services into the mortgage arena. Source: BankNet 360 – TOP STORY: BofA to Expand “Disruptive” Free Services In the past they have implemented free bill payment, & “keep the change“.  They are suggesting this new implementation is for mortgages. Speculation:  I recall listening to Susan Faulkner speaking at a conference and mentioning affinity cards being expanded to mortgages. She specifically hinted at a Red Sox Mortgage as an example.  This concept was a build on the highly successful MBNA affinity experience, … Continue reading BankNet 360 – BofA to Expand "Disruptive" Free Services

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Friendly email example from Bank of America

Colin Henderson

We talk a lot about strategy here, and its worthwhile to see some real implementation examples periodically.  This is a real email sent to a colleague who had not logged in for a while to Bank of America online banking. Its a good example of a friendly, relevant update. From: “Bank of America” <bankofamerica@replies.em.bankofamerica.com>To: aaa.bbb@ccc.comDate: Fri, 20 Oct 2006 16:36:35 -0400Subject: Can we help you with Online Banking? This email was sent to you by Bank of America. To ensure delivery to your inbox, please add to your address book or safe sender list. Bank of America. HigherStandards   Have questions? We’re here to help.  Try Online Banking. … Continue reading Friendly email example from Bank of America