Bank of America’s

Advance Functionality Automatic Teller Machines (ATM)

MIS 140

I. Introduction:

Banking Industry

Over the past couple of years, due to the decline in home values and the increase of mortgage defaults, the retail and commercial banking industry has sustained huge losses. The amount of loss varied from bank to bank as there were many mergers and acquisitions by the FDIC or larger banks that were able to hedge their own risk. The banking industry seems to just now be restoring what seemed to be a general loss in confidence and faith on the part of the general American public. The financial crisis accelerated an ongoing fundamental change in the banking industry as banks diversified their services to become more competitive. Some other financial services that many banks offer their customers include: financial planning and asset management services, brokerage services, and insurance services. Outside of the tangible service offerings, companies have also stepped up their interpersonal relationships with their customers as well. An increase in customer service have led to some fundamental changes in the way they conduct their business. Thus, the purpose of this paper is to look at one company of note, Bank of America, to see the way they have made some fundamental changes in their customer service that that, has in effect, revolutionized the way they use technology through the use of automatic teller machines.

Overview of Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and