STRATEGIC PARTNERS
March 6, 2002
CHARLOTTE, N.C --Bank of America (NYSE: BAC), the largest bank in the United States, announced that it will redesign 20 offices and build two new locations in Atlanta in October, some equipped with ATMs linked to the Internet. The project is part of a major renovation of the company's 4,500 banking centers.
The offices targeted for renovation will fall under three models. There will be five "financial centers" with investment consultants and certified financial planners, along with home mortgage loan officers. Five "transaction centers" will feature tellers and ATMs for simple bank transactions, and they may also partner with retailers. And, 12 "traditional banking" centers will be devoted to such services as home mortgage lending and new technological advances.
Web-based ATMs will be found in many of the offices refurbished as financial centers. The ATMs will give customers an option for easier investing and banking and provide special services like personal messages on new bank products and interest rate changes. Experienced bankers will meet people at the door and act as a guide to products and services.
What customers in Atlanta find most valuable could be incorporated into hundreds of other Bank of America offices across the United States.
Bank of America also has its eye on increasing revenue, improving customer service and reducing operating costs. The company recentlyannounced a major initiative to significantly increase revenues. The financial center is designed to have the greatest impact on enhancing customer service and revenue growth.
Millions of Bank of America customers use ATMs and the telephone to conduct daily bank business. The company predicts there will be more than 1 billion transactions this year at Bank of America ATMs and 500 million calls to the company's telephone call centers.
