Bank of America's Future in Technology, Big Data

The transcript discusses the roles of 100,000 employees at Bank of America, focusing on technology and operations that blend compliance with business growth. It highlights the importance of being ubiquitous, flawless, and fast in B2C operations. The future of banking is explored, predicting the continued existence of branches alongside digital integration. The competitive landscape is changing with digital companies and fintech firms, prompting partnerships and competition. Big data is crucial for anticipating customer needs and providing corporate clients with advantages.

What is the primary focus of the 100,000 employees at Bank of America?

• Only customer service

• Both technology and operations

• Only processing checks

• Only designing technology

Which of the following is NOT a goal of Bank of America's B2C strategy?

• Being ubiquitous

• Flawless execution

• Increased latency

• Incredible speed

What is the expected role of physical branches in the future according to the transcript?

• They will only handle currency exchanges

• They will be completely eliminated

• They will remain the primary service channel

• They will exist but not as the primary channel

How does Bank of America view competition from digital companies and fintech firms?

• As a threat to be avoided

• As an opportunity to improve

• As irrelevant to their business

• As a reason to reduce services

What is one of the potential uses of big data mentioned in the transcript?

• To eliminate physical branches

• To increase manual check processing

• To predict customer needs

• To reduce the number of employees