What would you do with $3 billion?

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Bank of America has consolidated its innovation efforts under the leadership of one executive, Cathy Bessant, who serves as the head of technology and fintech for the entire bank, according to Fortune magazine. The bank has given her an “innovation budget” of $3 billion to spend on fintech and other new technology projects this year.

What would you do with $3 billion to spend on fintech and banking innovation?

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Posted by JJ Hornblass (Questions: 10, Answers: 4)
Asked on June 29, 2016 9:34 am
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I’d want to contact Cathy Bessant to discuss a breakthrough Architecture for delivering end-to-end technology and operating services. Is that possible? Thanks in advance.
(Bohner at June 29, 2016 3:28 pm)
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Blow up B of A and start from scratch with non-bankers.
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Posted by Anonymous
Answered on June 29, 2016 11:39 am
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The fact that Bank of America has 3 Billion dollars to play with demonstrates why Banks are not motivated to innovate: they are flush with cash as a result of taking advantage of consumers. For years they have given consumers poor service, promoted high fees and are focused on selling products not providing actual benefits to their customers. After the banks were saved after the crisis, they did not extend the same courtesy to their mortgage holders. Consumers will never forget this and flock to emerging companies that compete with banks.
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Posted by Lish
Answered on June 29, 2016 11:43 am
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