Market Segment: Financial Services
Services: Site Surveys
Headquartered in Charlotte, NC, Bank of America is ranked 2nd among the largest banks in the United States by assets. The bank serves approximately 46 million consumer and small business relationships through approximately 4,600 retail financial centers and approximately 15,900 ATMs.
As part of a major overhaul of its branch network, Bank of America needed to makeover all locations in California in an effort to transform those branches into places customers can come to for advice and expertise rather than just a transaction center.
Bank of America’s California network of 800 plus branches had been created through mergers and acquisitions and as a result, Bank of America did not have up-to-date information about the physical aspects of many of its California locations.
Bank of America turned to DedON to obtain site surveys for half of the California branch network before the start of the planning and implementation of the overhaul initiative.
DedON rolled out a 5-month schedule of surveys of the assigned 400 locations. Field Agents visited all locations and created complete and comprehensive reports that included floor plans, site plans, and photographs of signage, exteriors, interiors and specific physical assets (ATMs, info desk, teller windows, etc.).
Bank of America now had a clear and complete understanding of the size, shape, and condition of each of the surveyed branch buildings, parking lots, drive-thru ATMs, finishes and brand graphics. One of the key findings in the DedON reports was that on average, branches were larger than they anticipated. With this knowledge, Bank of America was able to create realistic budgets and construction schedules that allowed for capital and expense control. Additional cost savings could be achieved through the use of pre-fabricated components and volume purchasing.