The Bankwatch

Tracking the consumer evolution of financial services

BofA dips toe in web 2.0 water | needs help

BofA are very conservative about this kind of thing, so its a big deal that they are at least trying something now. 

Customer Reviews: Online Banking from Bank of America

Write a Review Tell us what you think about Online Banking by signing in to Online Banking to submit a review. Look for the link on your Accounts Overview screen or in the Customer Service area.

Results so far are mixed on two fronts;

  1. presentation:  the display is horrible …  think email, or Google Reader in terms of laying it out.  There are 1,500 entries, yet you can only see 3 at a time, and even that with significant paging down.  There are ratings of things like “services available” with no explanation, nor can you summarise the ratings.
  2. quality:  more importantly, the quality is suspect.  Each review is written as if it were produced by BofA fan, and many are written as if internal marketing groups has something to do with it.  Thats just my opinion.  Also when I sorted by lowest rating, only good reviews showed up?          


“Banking online at BAC is very
convenient for me. I work during the day, but I still can transact
banking business at night when I get home. There’s no worry about
having to skip lunch to be at the bank.”

All in all, kudos for trying, and please don’t stop.  The reason that only 1,500 of your 20,000,000+ online customers have used it, is at least partly because of the reasons I gave above. 

Knowing BofA, the results will be collated internally, but get some advice from someone who has built web 2.0 web sites, and consider what others might want to see when they come to look at the results.  If you are trying to be ‘social’ then rule #1 is make it transparent, interactive, and returns the favour of users by providing useful, valuable feedback.

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Written by Colin Henderson

October 25, 2007 at 10:38

2 Responses

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  1. Maybe they are “salting the mine?” Seems like a common practice these days, even though it raises questions of ethics and credibility.

    Jeffry Pilcher

    October 25, 2007 at 14:36

  2. Interesting. Suspect they’ll work out the kinks and then leverage the reputation economy to get another 20,000,000 online banking customers.


    October 26, 2007 at 00:00

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