BoA TV ad explains why IT matters

BoA TV ad explains why IT matters

Summary: I know I said it the other day in another  blog -- "Nicholas Carr, eat your heart out" -- but now comes a company that's pretty much saying it on TV.  Although the TV commercial apparently isn't that new, I noticed that Bank of America is running ads on OLNTV's Tour De France coverage (not much can stop Lance Armstrong from winning his seventh Tour at this point) that, in no uncertain terms, attempts to point out that IT is one of the financial giant's key differentiators.

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TOPICS: Banking
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I know I said it the other day in another  blog -- "Nicholas Carr, eat your heart out" -- but now comes a company that's pretty much saying it on TV.  Although the TV commercial apparently isn't that new, I noticed that Bank of America is running ads on OLNTV's Tour De France coverage (not much can stop Lance Armstrong from winning his seventh Tour at this point) that, in no uncertain terms, attempts to point out that IT is one of the financial giant's key differentiators.   Thanks to my digital video recorder, I was able to transcribe the message as conveyed by supposed BofA employee Lance Truman (against the backdrop of check sorting equipment and other apparently digital assets).  Here's what he said:

What I seek every single day is perfection.  I want you to guess how many checks we process each day.  Try more than 40 million -- more than any other company in America.  But what is truly impressive is the accuracy with which we take care of them.  I'm Lance Truman. I'm a banker.  And I'm proud to be a part of Bank of America.  If you weren't a perfectionist, you couldn't do this job. One error in a million is simply unacceptable. So, at Bank of America, we customize our own equipment.  We engineer our own software.  Create our own quality control systems. To us, this is like an assembly line that is mission critical meaning zero defects. This isn't about processing nearly 11 billion checks a year flawlessly. It's a matter of accurately handling one single check, and then repeating it 11 billion times. (at the end is a voiceover that says "Bank of America: Higher standards.")

Customized equipment? Customized software? All in the name of what IT is really about: risk management. After I noticed the commercial, I waited patiently for it to come on again on another day so I could "TiVo" it, but it wasn't showing up.  So, while snooping around BoA's public relations department in a failed attempt to get a transcription, at least one spokesperson said "Why, of course our IT matters to us.  Where would we be without it?"  Fortunately, the commercial came on again and I was able to transcribe it.  So, how much does IT mattter to you?  Totally?  Some? Not at all? Use our TalkbackComments feature below to answer me and the best entry by close of business Friday gets a brand new yellow Lance Armstong Foundation Livestrong bracelet.  I have more to give away so stay tuned.

Topic: Banking

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6 comments
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  • So while they move our jobs to India, they'll double our interest rates...

    if you own a BoA credit card but thanks to the bankruptcy "reform" bill, the credit card companies are now free to act like starving obese sharks.

    Thanks for the advertisement. But I'm tired of being fed blue pills. The red ones are starting to look tempting and I bet they taste like liquorice too.
    HypnoToad
  • Basso is still in with a chance

    And anything could happen in the next four days of the tour.
    jorwell
    • About the only way Basso has a chance is if...

      Lance gets sick, crashes, or .. well, I won't mention the third option because, apparently, he's immortal.

      db
      dberlind
      • All these things can happen

        after all I think if Ulrich hadn't crashed he would be doing a lot better this time round.

        Armstrong's lead is only a couple of minutes and Basso could easily make this up in one stage.

        Anything can happen in the Tour de France, that's what makes it such an exciting race.

        Don't discount Rasmussen either!
        jorwell
  • Does Accuracy Matter?

    Why are people compelled to mis-represent Nicholas Carr's position w/regards to the role of IT in business? He *never* said or even implied that you don't need IT! What he said was that IT's role as a differentiator between businesses is on the decline and will continually decline until it fades into the background. With respect to BoA; is the contention that BoA's check processing facilities are so vastly superior to its competition (cheaper/faster/more accurate) that it has a comptetive advantage in this area? If not, what's the point? BoA has super-advanced check processing, Wells Fargo has super-advanced check processing, Chase has super-advanced check processing, yadda, yadda . . These capabilities are table stakes, not differentiators.

    People in the IT industry seem so threatened by this concept that they have to misrepresent it so that they can knock it down. Frankly, I don't understand why. IT will have done its "job" when it fades into the background and stops being an issue. Its the unstated mission of everybody working in the IT space to make the title CTO as obsolete as "Chief Electrical Officer" (yes, there used to be plenty of people with this title back when electricity was new and complicated).
    gilbertpilz
  • HAH!

    If only you knew....
    tww356