Bank of America depends on client feedback when approaching innovation. 

“We’re always gathering feedback from our clients to understand what their emerging needs are, and if there is a solution that we need to develop to help address those needs,” Mary Hines Droesch, head of product for consumer, business and wealth management banking and lending at Bank of America, told Bank Automation News. 

Once product needs are identified and solutions created, the $3.3 trillion bank takes a “measured approach” to product launches, including phased rollouts, Hines Droesch said. “We do that just to ensure that everything is going as expected.” 

For example, the bank on Sept. 26 announced its Family Banking solution, which will be rolled out over three months, she said. The Family Banking solution, which is part of the bank’s SafeBalance Banking platform, will be launched gradually: 

• The first launch, which is already live, included Bank of America clients in Connecticut, Maine and Rhode Island; 

• The next roll-out will launch Oct. 24 in Missouri, New Hampshire, New Jersey, North Carolina, Pennsylvania and South Carolina; and  

• The final phase will be in early December, marking the nationwide completion of the launch.  

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