Business Model Transformations: Customer Engagement Model

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Julian Francis
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1 Business Model Transformations: Customer Engagement Model Lynn V. Armbrust Senior Vice President, Technology Enablement Bank of America September 14, 2010

2 Customer Engagement Business Model and Opportunities Social Spaces Mobile Financial Advisors 6,000 Banking Centers Customer Affinity Groups Online Banking ATMs Mortgage Loan Officers Phone, Text Chat, 2 Bank of America: Proprietary & Confidential

Customer Affinity Groups Online Banking ATMs Mortgage Loan

3 Customer Trends A Movement to the Digital Space Customer preferences and behaviors are changing they want choices, control, flexibility, convenience and awareness of their financial lives 70% of customer interactions occur in the digital space creating opportunity and demanding change! Customers want to be more connected, knowledgeable, and in control of their finances Transparency and trust are key factors in customer satisfaction, retention and relationship deepening opportunities Customers expect flexibility, simplicity and convenience in how they interact with their bank Security and protection are required for customer consideration and adoption Customer expectations are influenced by their broader digital experiences beyond their financial lives 3 Bank of America: Proprietary & Confidential

Customers want to be more connected, knowledgeable, and in control of their finances Transparency and trust are key factors in customer satisfaction, retention and relationship deepening

4 Web and Online Banking Customer Engagement Provides customers with fast, easy, and safe access to their finances. Secure customer and prospect experiences 15 th Most Visited Website with 2.6B annual visits Over 29MM Online Banking customers and 200MM logins per month More than 15MM customers who pay more than $230B in bills electronically each year 4 Bank of America: Proprietary & Confidential

6B annual visits Over 29MM Online Banking customers and 200MM logins per month More than 15MM

5 ATM Customer Engagement Bank of America has the largest bank-owned network of ATMs in the U.S. with over 18,000 ATM locations across the enterprise. Customers conduct more than 1B transactions each year More than 40% of customer deposits to be conducted through ATMs by YE2010 ATMs utilize imaging technology to make banking easy and efficient for customers Eliminate the need for deposit slips and envelopes Automatically calculate total deposit and provide receipts with check images 5 Bank of America: Proprietary & Confidential

Customers conduct more than 1B transactions each year More than 40% of customer deposits to be conducted through ATMs by YE2010 ATMs

6 Social Spaces Customer & Community Engagement Social technologies provide an unprecedented platform to learn from and engage external and internal audiences. Leverage Social Spaces strategy to accelerate external listening and engagement Influence of social spaces extends beyond the sites themselves Two-thirds of the top 100 U.S. websites have implemented Facebook services integrating your friends anywhere and everywhere Focus on identifying and sourcing more complex, higher value customer interactions 6 Bank of America: Proprietary & Confidential

Leverage Social Spaces strategy to accelerate external listening and engagement Influence of social spaces extends beyond the sites

7 Mobile Customer Engagement Leverage unique connection between people and their mobile phone to make customer s lives easier and enable better financial management. 5MM customers use their mobile phone to check balances, make transfers, and pay bills anywhere, anytime Text Banking has brought the convenience of mobile banking to all customers and all phones 1 and 2-Way Text Alerts will increase financial awareness and enable immediate control 50 unique alert choices including those related to potential fraudulent account activity Next generation mobile services 7 Bank of America: Proprietary & Confidential

5MM customers use their mobile phone to check balances, make transfers, and pay bills anywhere, anytime Text Banking has brought the convenience of

8 Emerging Business Model Enabled with Mobile Capabilities Customers engage with us wherever and whenever they choose to reach out Customers engage with us as we proactively reach out to them in new and relevant ways Customers take us with them wherever they travel at home or across the globe New customers and new markets are accessible with mobile capabilities; as an extension of our physical presence Added value allows for retention and relationship deepening opportunities that grow our business

wherever they travel at home or across the globe New customers and new markets are accessible with mobile capabilities; as

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