The power to make a difference
Unlock choice
Set your IT team free Masses of data. That’s what you need in order to launch the ever more personalized, digital services that resonate with the market. The sheer volume of data puts creaking legacy infrastructure under an immense amount of pressure. Even a minute of downtime means lost revenue, and patchy services drive today’s fickle consumers into the arms of your competitors.
What’s more, those rivals aren’t just the large establishments that you’ve been competing against for decades. Fintechs are busy carving up the financial services industry with agile, niche services, while you decide how best to compete and collaborate.
Stop fighting with one hand tied behind your back
Legacy systems are holding you back. It’s time to unleash the full might of the expertise you already have. With Nutanix as your strategic partner, you can gain access to the multi-cloud environment necessary for your IT professionals to have true choice for the first time. You’ll have the security and compliance readiness of a private, on-premises solution, with all the flexibility and mobility that the public cloud has to offer.
Avoid vendor lock-in
The glacial pace of change within organizations as large as Bank of America can be a thing of the past. With Nutanix you can unshackle fast from slow models to isolate risk and accelerate change. Stability, security, risk management, compliance and control can all be maintained. At the same time, automation, speed to market, scalability, digital services and new business models can each grow at a speed that suits you.
Your IT department can transform their approach to infrastructure, work with any vendor they like and meet increasingly demanding service level agreements, within a business that is demanding more agile, future-ready applications.
Be a digital leader
The inventive IT department By partnering to create the Financial Data Exchange (FDX) in 2018, you displayed Bank of America’s commitment to the future. A future where open standards can mean a level playing field for all financial service operators. That healthy competition makes a focus on digital services and next-generation customer experience (CX) an absolute imperative. The key to unlocking industry leading success lies in your ability to develop new applications and accelerate time to market.
Making the most of the savings you have already made
At Bank of America, you’ve saved more than half a billion dollars through digital transformation and automation – reacting to changing market conditions and customer expectations. At the same time, you’ve allowed the personnel requirements change to happen near seamlessly by letting organic attrition work in your favor; shrinking the workforce without the need for mass layoffs.
There is now a renewed interest in investing CX so that Bank of America can lead the market with seamless, omnichannel experiences. It’s not surprising when you consider the fact that CX leaders achieve 1.9x the number of recommendations, 2.1x the willingness for customers to take up new product offerings and 1.9x greater share of wallet over CX laggards (Kantar, 2018).
But this ongoing digitalization can occur faster. And Bank of America can see improved market returns with the help of Nutanix. The IDC recently found that Nutanix customers enjoyed a 73% reduction in staff time to deploy computer resource.
73%
reduction in staff time to deploy computer resource enjoyed by Nutanix customers.IDC - International Data Corporation
A single point of control
A key difference Nutanix can make is through simplification. We’ve built an entire business around our ability to take the most complex workflows, often across multiple cloud environments, and converging them to create a more easily managed environment. At the same time, we harmonize IT operations and bring frictionless mobility to all applications. The result is that your existing and new applications perform better, and app lifecycle management can see a marked improvement so that applications can be deployed in hours, not weeks.
Power local connections
Giving IT the freedom to support future branches Decades ago, the introduction of the ATM was feared to be the death of the bank branch. That couldn’t be further from the truth.
The same is true today for automation and digital transformation. A large part of Bank of America’s success is down to accessibility. While widespread digital access to services will increase your customer footprint massively, branches will still have a strong part to play in the story of your continued success. With Nutanix’s Remote and Branch Office IT solution, you gain a single, hyper-converged platform that allows all your applications, no matter where they are based, to be run using the same unified interface.
+90%
of the population of the United States will be covered by Bank of America’s branch and ATM network by 2021.
Renovating the branch model
Over the next three years, more than half of Bank of America’s branch network will be modernized to respond to changing customer behavior. Some 2,500 retail financial services centers will be renovated with more interactive technology, plus the kind of layout that accommodates extended customer visits, as opposed to the speedy, transactional banking set up found in the banks of yesteryear.
You’re also upgrading and expanding the Bank of America network of over 16,000 ATMs to allow customers to pay credit card bills and withdraw cash using their cell phones. By 2021, Bank of America’s branch and ATM network will cover more than 90% of the population of the United States. As Aron Levine, Head of Consumer Banking and Investments said,“This work has enabled us to have more in-depth conversations with our clients about their financial plans and priorities”.
Nutanix can help accelerate this change. Our virtual desktop infrastructure (VDI) solutions can bring predictable performance, linear scaling and simplified management as you deploy new systems and upgrade the old ones. With Nutanix, you gain both crystal-clear vision and speed across the entire organization.
The future is omnichannel
The ATM eliminated the need for bank tellers. But face-to-face interactions between customers and Bank of America didn’t end. Instead, those interactions became more valuable; focused around more complex financial matters than simply withdrawing or depositing cash.
Today’s branch transformation requires fast virtualization in order to keep pace with your competitors. Local service models are needed to join up in-branch interactions with the digital channels you are developing and rolling out. Only by having a complete 360-degree view of your customers – including offline interactions such as face-to-face meetings at a branch – can you effectively anticipate your customers’ needs and deliver the personalized service the market is coming to expect. And it’s not just marketing data that you can benefit from. Advanced fraud detection, improved compliance and regulatory ability, and risk management are all impacted by having a deeper understanding of your customers.
Be ready for the big bets
Giving IT the infrastructure of the future IT at Bank of America needs to meet line of business needs. That means investing in the technologies that will enable faster application development and accelerated time to market. That means Bank of America becoming known for its market-leading digital services.
Tomorrow’s technology, today
The market expects the latest technologies at every turn. With customer loyalty at an all-time low – driven by the ease at which they can switch to the offering they find most attractive on almost any given day – if one of your competitors has a new technology, you almost certainly also have to have it. While the cryptocurrency bubble of blockchain may have already burst, the wider underlying technology has very real implications for financial services. And artificial intelligence is fast becoming the industry standard first touchpoint for customers.
With the Nutanix Enterprise Cloud, you gain the simple and scalable platform that can make all of these technologies a reality. We call our agile approach IT-as-a-Service, and it’s critical to eliminating the barriers to growth that are currently holding Bank of America back.
97%
user acceptance and customer satisfaction rate.
The Nutanix difference
We can bring true agility to Bank of America. With the cost savings and efficiency gains found with Nutanix solutions, you can see a near instant return on your investment. What’s more, with Nutanix you gain global support every hour of every day, all year round, and predictive operations are used to produce proactive troubleshooting to keep your organization moving. At the end of 2017 the IDC published a report that detailed significant performance benefits for Nutanix customers:
- 61% increase in IT staff efficiency
- 70% application performance boost
- 98% less downtime and user intervention
- 60% reduction in total cost of ownership (TCO)
- 8x faster deployment of validated solutions
Nutanix also has a 97% user acceptance and customer satisfaction rate, and has consistently achieved a net promoter score (NPS) of over 90 since 2015. Together we can make these kinds of astronomical improvements across the entire Bank of America organization with a system that allows you to pay for what you need, when you need it.
Get in touch today to start your journey
to IT freedom.
Chris Surrusco
Global Account Manager
Nutanix an MQ Leader Again in the November 2018 Magic Quadrant for Hyperconverged Infrastructure