Bank of America Case Study

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 serves approximately 58 million consumer and small businesses through 5,700 retail banking offices, 17,800 ATMs and 30 million active users with their award-winning online banking.

Bank of America (BofA) selected Systemware software to provide immediate access to critical business information — customer statements, ATM transactions, key customer documents, reports, etc. — across the enterprise improving their ability to address customer needs, reducing costs, and increasing operational efficiencies.

Since this initial implementation, BofA has continued to turn to Systemware to address their information management needs and today is considered the preferred platform standard by BofA for document presentment, transformation, distribution, storage, retrieval, and backup. Systemware has a significant presence with more than 10 billion statements captured and quite possibly one of largest deployments of this type in the world.

• Statement retrieval process was cumbersome, slow, and very expensive
• Remote personnel as well as customers needed access to information
• Ineffective tools and processes created challenges in addressing customer questions
• Reduce the cost of paper, printing and mailing of customer statements
• Comply with the ever-increasing number of regulatory mandates

• Instant, secure document access from any branch, office or other location around the world
• Electronic distribution of information reduces costs and increases productivity
• Automate statement reprint request process increasing operational efficiencies
• Powerful indexing allows users to quickly locate specific transaction information
• Employees and even customers instantly access statements and documents anytime from anywhere and deliver superior customer service
• Quickly converted 400 million images from 20 disparate repositories
• 100 million statement delivery customers — including 40 million banking, more than 60 million credit card customers, 6 million mortgage and 5 million investment (Merrill Lynch)
• More than 15 million suppress the printing and mailing of statements
• Billions of images and metadata — drivers license, signature cards, applications, and account information — are scanned, automatically collected and available for access