Bank Of America Social Media Analysis

The banking industry has undergone major upheaval in recent years, largely due to the lingering recessionary environment and increased regulatory environment. Many banks have failed in the face of such tough environmental conditions. These conditions

Social media refers to websites where individuals can create, share, and exchange information in a virtual community and network. The channels of social media include Facebook, Twitter, Whatsapp, LinkedIn, MySpace, YouTube, and blogs. There is a rise in the use of social media because of increase in technology. The increased penetration of internet in the world has rapidly increased the users of social media making it widespread and accessible to people throughout the world. Its emergence has led to building of new relationships while also impacting others.

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.

There are various categories of banking; these include retail banking, directly dealing with small businesses and persons. Commercial and Corporate banking which offers services to medium and large businesses (Koch & MacDonald 2010). Private banking, deals with individuals, offering them one on one service. The last category is investment banking. These help clients to raise capital and often invest in financial markets. Most global banking institutions provide all these services combined. With all these institutions in existence within the same localities and offering similar services, there is a need to regulate the industry so as to protect the consumer and provide fair working environment for all banks (Du & Girma, 2011).

The American economy is a complex balance of services, financial, manufacturing, agricultural, and banking industries. For this reason, the U.S. is a global economy, relying upon foreign investments and trade to create and retain wealth. Over the years, America has evolved from farming-based, to industrial, to a services-based economy. As a result, the banking system from its inception has weathered the many growing pains associated with a new government and currency, instituting regulations and a centralized bank to examine the economy, and implement policies intended to offset factors negatively affecting the general financial health of the country.

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

Bank of America is a bank and financial holding company. It is a financial institution that serves individuals small and large business, large corporations and the government. The bank offers banking, investing, asset management, risk management, and other financial services. Through its subsidiaries and other nonbanking subsidiaries in the United States and international markets it provides six major segments. They are Deposits, Global Card Services, Home Loans and Insurance, Global Banking, and Global Wealth & Investments Management. The company is headquartered in Charlotte North Carolina and employees more than 283M people.

Bank of America purchased Security Pacific Corporation, and with that purchase Bank of America became the first bank to offer coast to coast operations. In the early 21st century bank of America was operating more than 5000 bank branches in the U.S. and conducting investment banking in multiple countries around the world. In 2004, Bank of America expanded its credit card business when they obtained National Processing, which is a transaction processing firm. To receive a high position in the wealth management business, Bank of America gained U.S Trust Corporation, a firm that manages investments in for high net worth clients.

Bank of America started off as just a local bank in Northern California in 1904, under the title Bank of Italy and through the years has transformed into one of the largest banks in the world acquiring many smaller banks along the way to expand their operations, and gain leverage against their competitors. This aggressive strategy also led to major problems, such as the exposure they had to subprime mortgages during the Great Recession after acquiring Merrill Lynch. Southeastern Bank began in 1888, and has expanded to only 10 locations throughout coastal Georgia and northeast Florida. They have never merged with a larger bank, and actually pride upon this; it is stated on their website clearly. There was a merger between two banks, of one whom had a similar name. They made it a point to state it on their website that this was not them, and it was another bank with a similar name. Southeastern Banking Corporation can easily be confused with Southeastern Financial Bank Corporation because of their

Bill Nye hits the hammer on head with that quote because social media has become this generations way of communicating. Don’t get me wrong the mass media has advanced our society and knowledge tenfold, but is what we’re reading in these tweets or magazines actually hurting our indelicacy? I took two articles with the hot topic of smoking marijuana in society, economic market, and legalization nationally. One article was from CNN (mass media) and the other was from a scholarly web page. The articles by Alexandra Sifferlin and the Yale Rsearch team both circled around the idea of marijuana, but both have completely different writing styles, purpose, audience, and approach.

The bank has also been studied with respect to its customers who follow the general trend of bank customers elsewhere but have their subtle niches due to being from the Midwest. The consumer of the Bell State Bank is a small to medium scale businessman who borrows much more heavily for commercial expansion and investment than for

The Bank of America Corp dominates the market in the United States and also uses different strategies to gain a competitive advantage over it

Extensive research has determined that the banking industry is in an unstable state. The industry’s profits have

The banking industry is the backbone of any monetized economy. The stage of development of this industry is a good reflection of the development of the economy.

In 1904, the bank had officially opened for business. The company was founded by Amadeo Peter Giannini. By the age of 21, he earned half ownership of the business. Then in 1958, BankAmericard was introduced and licensed to other banks across the country. In 1998, Bank of America began creating the first coast-to-coast banking franchise. As the years went by, Bank of America made great progress. Between 2004-2006, the company bought FleetBosten Financial and MBNA. As of today, the company provides