The main problem in this case is that whether bank of America add the complicate app and add more new features or not. If they add the new complexity application, it could cost lot of money, and it could also give their users some negative effect. Like the case described “it is unclear if users were ready to sign up for mortgages or credit cards on their mobile phones.” BofA concerns about how the mobile banking affect their customers. Because behavioral factor is very important that made people to accept the new things reluctantly or not. From the market survey we know that there are three main reasons that people not to use the mobile banking: concerns of security, cost of data, less value. So if bank of America want to add their new app or add more futures, they should cope with those three factors at first.
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I think bank of America should add new apps, because they can get improvement about their customer loyalty and satisfaction, and they can gain more market share form this way. If they didn’t build it, maybe they will behind that of other banks. Another reason is that with the development of the communication technology, there will be have full of the customers have their smartphone rather than the regular phones, so it can give bank of America more confidence to add app for smartphone customers. One of the most reasons for people not using mobile banking is the security concern. So how to improve security on people’s mobile devices has become a very important thing. They can make an external device for their mobile banking. The external device can insert into the headphone jack on smartphone. After the connection, customer should slide their card, and then system will be prompted to enter some personal authentication information, and then will send a message for their smartphone to get the verification code before use the mobile banking to do their account activities. Customer can get this external device for free if they open an account at bank of America. But if they lost it they should pay it for $30 to get another. This external device can make sure that customers don’t have to worry about security issues. With this security problem solved, BofA will gain more customers and more market shares.