1. -3 pages)1.1. Company Overview (history, location, owner, etc.) Bank of America, the second largest bank holding company in the United States by assets after JP Morgan Chase (Forbes, 2013), was originally founded in 1904 as the Bank of Italy. Bank of America is now a multinational corporation and financial services company headquartered in Charlotte, North Carolina. In 1998, North Carolina National Bank began a series of acquisitions of several banks (including Bank of America in 1998). The new bank took the name Bank of America and maintained its headquarters in Charlotte, North Carolina (Bank of America: Our Heritage, 2014). In the 2000s. Bank of America continued to expand with the acquisitions of FleetBoston (2004), MBNA (2006), investment management firm US Trust (2007), mortgage company Countrywide (2008), and Merryl Lynch in 2009 (Gupta & Herman, 2012). After the 2008 U.S. housing market crash associated with subprime mortgages and Merry Lynch's losses, Bank of America accepted a $20 billion government bailout with the intention of stabilizing financial markets (Gupta & Herman, 2012). Band of America later repaid that amount with interest. In 2010, according to Forbes, Bank of America was the third largest company in the world after JP Morgan Chase and General Electric. In 201, however, Bank of America began reducing its staff by approximately 36,000 people, contributing to projected savings of $5 billion per year by 2014 (Bank of America Ending 30K more jobs, 2011). Regarding ownership, Bank of America is a publicly traded company under the BAC of the New York Stock Exchange (NYSE)1.2. Brief SWOT Analysis• Strengths: As the second largest banking company in the United States, B...... middle of paper ......will adopt other programs in the future. The costs associated with online banking were out of weight based on the benefits provided by the program. Resources had to be drawn from other areas of the bank to launch the programme, which included building the website, making it secure and promoting it to customers. However, the creation of this program also brought many benefits. The first is that it changes customers' patterns of use of different banking channels. Among active users of online banking, there have been drops in the use of some of the other banking channels as well. Another benefit is the loyalty created by online banking. This happened because once a customer entered all their information, they saw that they needed to switch banks and have to do it all over again. Customers would therefore stay with their current bank for longer and longer.