Bank Of America's Digital Transformation: Where IT Fits In - InformationWeek

The most basic form of competitive analysis is to examine what other companies in your field are doing to meet the needs of customers. While that effort certainly remains relevant, when it comes to online and mobile experiences it's important to remember that your customers are likely comparing your offerings to those of digital-first organizations operating in completely different industries. This is top of mind for technology professionals at Bank of America Merrill Lynch (BofAML), which has tripled its digital budget in 2016. "Our customers don't benchmark us against banks," said Hari Gopalkrishnan, CIO of client-facing platform technology, in an interview with InformationWeek. We spoke with Gopalkrishnan and other BofAML technology executives during the company's 8th Annual Technology Innovation Summit in Menlo Park, Calif., October 19 and 20.