Bank of America 2015 Annual Report Download - page 5

We must grow and win in the market
As we’ve discussed before, we serve three groups of customers —
people, companies and institutional investors. In the U.S., we
serve all three customer groups, and outside the U.S., we serve
larger companies and institutional investors. This approach has
helped simplify our operations and reduce our risk profile.
Our  results demonstrate that we grew across all
our businesses.
For the people we serve, this is the best consumer and wealth
management franchise in the country. We serve  million
households, and every week, we interact with customers
more than  million times. In the time it takes you to read
this letter, we will have had more than , contacts
with customers. Your company is:
• A highly efficient deposit-gathering franchise with the
largest retail deposit share in the U.S.
• No.  in home equity lending.
• No.  in investment asset growth with Merrill Edge.
• No.  in digital sales functionality, and we have the No. 
online and mobile banking platform.
Within the Consumer Banking and Wealth Management
businesses, deposits grew by $ billion, or  percent, from
. That is up more than $ billion since the end of ,
and that deposit growth alone is equal to a midsized U.S.-bank.
We’ve introduced more ways that customers can interact with
us and made it more convenient for them. We have more than
 million digital customers, and mobile banking continues to
grow with more than  million users.
Why do we drive these capabilities? Why do we continue to
invest in digital banking? Why are we tripling our investment
in ? It is simply because this is how customers want to
do business with us. Our customers deposit , checks
a day through their mobile devices, reflecting  percent of
consumer deposit transactions. We would need an additional
 financial centers to handle the deposit activity that is
currently being done on those mobile devices. In addition,
over $. billion in payments are sent by our mobile
banking customers each week, and $. billion is sent
via online banking.
To assist customers face-to-face, we still have more than
, teammates who handle our  million financial center
visits a week. This includes a growing specialized sales force to
help customers with more complex transactions. In the past year,
we added more than  Financial Solutions Advisors, Mortgage
Loan Officers and Small Business Bankers as we optimized our
branch network for relationship-deepening opportunities.
With the touch of a button,
customers can now use
mobile and online banking
to schedule a time in
advance to meet with one
of our specialists in our
financial centers. We now
have , scheduled
appointments per week.
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