AFTAs 2021: Best infrastructure initiative—Bank of America

OVERVIEW

As more financial professionals are working remotely, applications need to be available and reliable so as to lessen operational risk. 

At the same time, organizations are looking to deploy new technologies and transform legacy ones, so there is pressure to make sure that these systems work seamlessly for end-users. 

THE SOLUTION

In 2020, BofA initiated a service reliability program across the entire bank to ensure the technology its clients use 24/7 is available and seamless.

The bank identified 21 critical business services and 84 core critical infrastructures and then analyzed the two in order to facilitate a baseline of current platforms to ascertain maturity and capability aligned to availability.

Based on the analysis, BofA develops standards and guides technology teams to create next generation infrastructure services built and operated with the goal of ensuring availability anytime, anywhere.

The program has led to a 57% reduction in incidents, reduced global impact of incidents in Emea by 82%, with a 79% reduction in regulatory reported incidents. It also helped to improve Merrill performance to handle login volume from 6,000 per minute to 17,000 per minute.

WHATS TO COME

Follow-on analysis will include capacity, performance, security, and integrity.

Teams will also continue to enhance technology resiliency, stability and reliability to provide insights to inform CIO/CTO strategic roadmaps as the bank builds its next-generation infrastructure.

WHY THEY WON

As Bank of America has embraced cloud to help revolutionize its technological capabilities, it has also kept a close eye on making sure that it doesn’t move too quickly and forget about the importance of day-to-day system performance and reliability.