Student55
Corey Hocking
09/09/2013
MISM2301 *10
Bank of America Case Study
1. What are the core business processes (high level; major business and financial services) performed at Bank of America as part of its product and service offerings?
People Management- recruiting, performance management, payroll, staff development, benefits administration.
Financial management- general ledger, accounts payable, accounts receivable, reporting and compliance, cash management, asset management.
Banking - checking accounts, saving accounts, mobile banking
Lending/Borrowing- mortgages, home loans, car loans, credit/debit cards, refinance
Investment- life insurance, home/auto insurance, retirement guidance (401K)
Financing- asset based lending, business loans, lines of credit, real estate financing, and equipment financing/leasing
2. List the sequential steps required in a typical ATM transaction, such as drawing out cash or transferring funds from one account to another, and briefly explain why each of these steps is necessary. Use a table to organize your response and do not overlook steps in the process that are performed either by the ATM system or by information systems housed within the Bank’s centralized data center.
Steps by Customer |Steps by ATM System |
1.) Insert card | Recognize card and user |
2.) Enter PIN # | Validate PIN # and send BOA account information |
3.) Select Account Type | Open appropriate account and display options |
4.) Select Cash Amount | Confirm available funds through BOA |
5.) Pay withdrawal Fee is necessary| Inform customer of withdrawal fee if applicable|
6.) Receive Cash | Dispense of cash |
7.) Enter option to receive a receipt or not | Print receipt if requested |
3. What does your interactions with an ATM machine suggest to you about using information systems (i.e. how might you generalize the interactions between the customer and the system?)? a. Interactions between the customer and machine should
09/09/2013
MISM2301 *10
Bank of America Case Study
1. What are the core business processes (high level; major business and financial services) performed at Bank of America as part of its product and service offerings?
People Management- recruiting, performance management, payroll, staff development, benefits administration.
Financial management- general ledger, accounts payable, accounts receivable, reporting and compliance, cash management, asset management.
Banking - checking accounts, saving accounts, mobile banking
Lending/Borrowing- mortgages, home loans, car loans, credit/debit cards, refinance
Investment- life insurance, home/auto insurance, retirement guidance (401K)
Financing- asset based lending, business loans, lines of credit, real estate financing, and equipment financing/leasing
2. List the sequential steps required in a typical ATM transaction, such as drawing out cash or transferring funds from one account to another, and briefly explain why each of these steps is necessary. Use a table to organize your response and do not overlook steps in the process that are performed either by the ATM system or by information systems housed within the Bank’s centralized data center.
Steps by Customer |Steps by ATM System |
1.) Insert card | Recognize card and user |
2.) Enter PIN # | Validate PIN # and send BOA account information |
3.) Select Account Type | Open appropriate account and display options |
4.) Select Cash Amount | Confirm available funds through BOA |
5.) Pay withdrawal Fee is necessary| Inform customer of withdrawal fee if applicable|
6.) Receive Cash | Dispense of cash |
7.) Enter option to receive a receipt or not | Print receipt if requested |
3. What does your interactions with an ATM machine suggest to you about using information systems (i.e. how might you generalize the interactions between the customer and the system?)? a. Interactions between the customer and machine should