Comments on: Welcome to the Future

By: Becky

Becky — Wed, 16 Sep 2009 13:57:59 +0000

Jeff, Havaing just joined the blog, this was the first time I was able to view your message. Your thoughts are very relevant. There are however, from my perspective, some additional, more detailed issues that must be addressed first.
Primarily, banks must put their own houses in order. Internally processes are at best, duplications of what has been done manually for many years. Even with the technology that is now in place, it simply mimics the processes that were done manually. For the most part any financial service entity has given up on trying to improve those processes or effectively manage the risk that they cause.
While I admit process risk is my area of focus, I do not see improvements for customers or investors until a bank or financial service company has a methodology in place to measure and improve processes. Only then will innovation be meaningful. Only when we can demonstrate that our products and services are better than another bank, will consumers and investors have a reason to be confident about the future of banking.

By: John Lamb

John Lamb — Tue, 20 Jan 2009 21:43:53 +0000

Jeff,
I’m curious about what the new administration will do to help us through this tough economic period, but even more eager to see what industry leaders like Bank of America will do to shape banking for customers in the years ahead. What a great opportunity you and your team have to change customers’ lives for the better, and build confidence and trust. Best of luck in 2009.
John

By: Micheal Gargiulo

Micheal Gargiulo — Tue, 09 Dec 2008 22:16:24 +0000

Hi Jeff,

This blog is a great idea. I have always been fascinated by technology and its impact on people’s daily lives. The way money is managed touches almost everyone everyday. As such, new and innovative ways to deal with personal finances can have a very positive impact on day to day living. Would you rather carry a load of quarters to a laundromat or simply tap your phone to start the machine?

I have been a BOA customer for years and have seen first hand how the implementation of new technology has impacted my life. From ATM’s IVR systems, web technology and online bill pay, the drudgery of day to day banking chores has slowly been lifted leaving more time for other things. Now that I work in this arena I tend to look even more closely at what is going on in the industry.

I look forward to keeping up with the activities of The Center for Future Banking via this blog and wish you and your team a happy and prosperous new year.

Micheal Gargiulo

By: Annalie Killian

Annalie Killian — Wed, 03 Dec 2008 21:08:33 +0000

Congratulations Jeff- I was so honoured to spend time with you during my global research visit and learn first-hand about the Centre for Future Banking at MIT earlier in October. I hope to collaborate with you not only cross-industry but also across geographies through AMPLIFY- the Innovation and Thought Leadership Festival that we run at AMP in Sydney, Australia. Hope to see you here in June 2009!

By: senorjoa

senorjoa — Tue, 02 Dec 2008 05:23:35 +0000

Hey Jeff - has it been only 8 months? Kudos to you and the team for achieving so much in such a short time.

By the way, I’ve listened to your commentary on NPR … right on the mark. That was a very compelling vision you had painted for many who listened in that day.

David

By: jawgardner

jawgardner — Tue, 02 Dec 2008 03:24:51 +0000

Jeff,

Fantastic to see this blog start, and I can’t wait to see what you writehere. And I notice you’re doing it under the Bank of America brand. That is also fantastic, and way beyond what I’ve been able to achieve thus far at Lloyds TSB.

Best
James.

By: Stephanie

Stephanie — Mon, 01 Dec 2008 01:49:08 +0000

Congrats, Jeff, to you and the team. I’m looking forward to the good impact of your work.

What you didn’t say explicitly in your opening post, but which I hope is implicit, is that part of what the future of banking will involve is a more personal level of trust. As consumers allow banks and other organizations into their personal spaces (digital is now personal) - on Facebook, their mobile device, their email inbox - then we marketers are elevated to a personal level relationship. We will be held to a higher level of integrity and trust than in the past 30 years. It harkens back to images of Jimmy Stewart in “It’s a Wonderful Life.” And that is the the true challenge of the future - it’s not technology, it’s relationships.

We marketers - bankers and otherwise -will be judged by the power and authenticy of the experiences we create.

Thanks and good luck to you and all at the Bank.

- Stephanie Miller