Activity Summary Report: Bank Of America Merchant Services

Scammers are calling consumers and falsely identifying themselves as Bank of America employees. In this scam, they explain that there are “irregularities” with their account and need to confirm their account information. They will then proceed to ask the consumer for their account information and other personal info that will help them gain access to the consumer’s account. If the consumer responds with skepticism, the scammer may then try to scare or intimidate the consumer into giving up the information they

Bank of America is the largest US bank founded in 1904, it has expanded through several acquisitions. By the end of 2009, Bank of America was the market leader serving 82% of the US population and over 53 million customers. They are positioned as number one in online and mobile banking. Their mobile banking services were launched in 2007 and have gained 4 million customers in less than three years. Acquisitions made by Bank of America prior to the financial crisis caused a very strong drop in their stock price.

As soon as I spoke with a teller, I was informed that a hold has just been placed on my account, and to contact customer support to resolve the issue. I tried to speak with a banker, but everyone in that branch wanted nothing to do with the issue at hand, and was very quick to send me out of the branch and speak to customer support over the phone.

After following up with Amerigroup regarding the two accounts below, Amerigroup provided me with the information that was needed (when we rebill) in order for the UH to receive payment for services provided.

In general chase’s total non-interest expenses in 2011 rose 5.11% higher than the total non-interest expense in 2010. The net income in 2010 seems lower than 2011 due to less operating and investment activities in 2010. Apart the item labeled other expenses and amortization of intangibles; all the other expenses were slightly higher. The increase in non-interest expense was driven largely by higher compensation expense reflecting headcount. The operating cost as part of the non-interest expense was definitely higher compared to 2010.The higher headcount visibly explains this increase. The provision for credit lost was 8.41% lower than the 2010 provision. This was due to the amelioration of collection from customers. Consumer business modestly improved and mortgage net charge-offs and delinquencies improved. It is probably included in the item “other expenses” which were lower than 2010 but 6.38% higher than 2009. Tax Burden: The total revenue in 2011 was 5.62% lower than the revenue in 2011 but the bottom line was a lot higher

Bank of America thrives off of the premise that they are aiming to enhance the financial lives of their customers. Per the Code of Conduct, Bank of America believes in treating all of their customers equally; they claim to expand beyond expectations to deliver satisfactory customer service; they implement discipline to eliminate financial risks to customers; they pride themselves on acting responsibly; and they strive to help individuals to reach their full financial potential. This company enforces the belief that they honor their ethics fully. This includes making

Internal Audit sampled 10 purchase card reconciliations from 384 purchase card reconciliation done from February to May. IA found the following and would like to bring management’s attention.

JPMorgan Chase has been adjusting to the new financial advances in technology. Financial Technology (FinTech) is “an emerging financial services sector in the 21st century” that includes “any technological innovation in the financial sector, including innovations in financial literacy and education, retail banking, investment, and even crypto-currencies like bitcoin” (Investopedia, (n.d.)).

In this paper, I will identify security threats that Bank of America faces today. In addition, I will describe the techniques and processes used to identify the vulnerabilities and threats, describe risks to the information and related vulnerabilities within Bank of America when utilizing components of the web. Discussions on BoA safeguard against legal issues will be addressed followed by the types of social data that potentially cause problems for this bank institute. In conclusion, I will explain the legal, ethical, and regulatory requirements Bank of America utilize for the protection of the organization.

Commonwealth Bank has become one of biggest bank of Australia; one of the reasons is ERP implementation. The ERP system helps the financial institution to communicate worldwide, talking about its various management department, for them it’s really effective. Such as using customer relation management software it helps in keeping the records of consumers in data warehouse, which can be used at the time when information needed by the bank. For Human resource management it provides 24/7 hours services to customers and also helping employees due to real time processing. Financial resource management, it gives the relevant data of clients like whether this consumer has positive records or not and provides credit on the basis of their history. Manufacturing resource planning, ERP supports the firm to know about happenings during production process. Supply chain management, to select the best suppliers for the cards, the bank needs Enterprise resource planning. However this software got some weaknesses like it may be expensive and chances of security issues are always.

Week four covered the concepts that pertain to writing reports for business, within it was the careful planning of the report and managing the information that has been obtained, concluding with how to effectively carry out the action of writing the report out. Within these concepts it was proved that significant emphasis should not just be placed on the way in which business reports the information, but also the purpose, content, and what the information is conveying to the audience it is prepared for. The importance that surrounds these reports is due to the fact that they are utilized as a tool to make business decisions, determine areas of opportunity, and solve problems that can arise (Newman, 2015). Given the various ways in which reports are utilized as one might imagine the information obtained, content, and audience might vary. Yet interestingly, just because certain business reports have to exist due to corporate standards might not necessarily mean that additional reports should not nor that better reporting practice should not be implemented. Unfortunately, a company that might have found this out a bit too late is Wells Fargo. The very well-known banking establishment found itself in

I asked further on your question regarding points transfers from the Merrill Plus Card to the Premium Rewards card or another Bank of America card- you do have the ability to transfer points, but all Bank of America points are redeemed at a penny per point ($.01), as opposed to the Merrill Plus card, which allows redemption of 2 pennies per point ($.02) for airline tickets. Therefore, it is not beneficial for clients to transfer points (as you pointed out) to the new card, if they are planning on redeeming for airline tickets (if clients typically get redemptions in cash, the math will be the same, but they should probably be advised to redeem their points for airline tickets to get the same bang for your buck.

American Express, also know as AMEX, is a global financial services company headquartered in New York City and founded in 1850. With 54,000 employees and a revenue of over 35 billion dollars American Express stands tall on the New York Stock Exchange (Sec.gov). American Express is best known for it’s credit cards, which make up about twenty-five percent of total dollar volume in credit card transactions in The United States of America (Reviews.greatplacetowork.com). American Express’ goal is to maintain a leading and almost elite reputation with as many qualified card holders as possible. American Express does this by concentrating on the customer’s experience and branding that experience. American Express’ key components in maintaining and further exceling into this goal includes focusing on their human recourses, social responsibility, and marketing techniques.

The American Express company also known as Amex, it is an American multinational corporation. The company was eventually started as an express mail business in Buffalo, New York. It was formed as a joint stock corporation through the merger of express companies owned by Henry Wells( Wells Company), William G. Fargo (Livingston, Fargo and company)and John Warren Butterfield (Wells, Butterfield and company).

The purpose of this research paper is to examine the service marketing triangle and how it relates to the role of service employees in banks and financial institutions. Using academic journals and articles, this paper addresses the different aspects of the service triangle, including external marketing, internal marketing, and interactive marketing and the significance of adapting this strategy for bank service employees. By using this strategic framework, bank management will be able to monitor and understand the service employee’s role in the overall success of the bank.