More than 6 million Bank of America customers are now using the Erica virtual assistant and it has processed more...
Bank of America’s digital investment product, Merrill Edge, has seen their assets under management grow with the help of branches to serve clients; Merrill Lynch has plans to add 600 new investment centers within Bank of America branches to help with this strategy; the combination of using technology and human advice for high net worth clients is a growing trend among bigger banks as they compete with new robo entrants. Source.
Bank of America’s AI powered digital assistant Erica has now reached more than 7 million users with over 50 million...
An ‘overwhelming’ moment: Behind BofA’s $1B racial justice commitment PNC pledges $1 billion to fight racism Eastern Bank Readying For...
The new digital assistant is launching inside the Bank of America mobile app next year and will be named Erica; the bank is looking for the tool to help customers better understand their spending habits and offers different ways to stay financially fit; Erica will use artificial intelligence and predictive analytics to help customers make payments, check balances, save money and pay down debt. Source
Artificial intelligence (AI) is everywhere these days as more companies look to automate repetitive tasks to save money and reallocate...
The market turmoil has sparked banks like JPMorgan Chase and Bank of America to try for further easing of certain...
Bank of America is testing three automated branches in Denver and Minneapolis in an effort to lower branch banking costs; the automated branches will focus their service around automated teller machines and video conferencing; the firm's CEO Brian Moynihan has been focused on reducing costs with a specific focus on lowering branch costs while increasing investment in mobile and digital technologies. Source
In a new Wall Street Journal feature, called Back in Business, Jason Zweig provides some detail into the origins of...
With more of financial serivces becoming digital by the minute fintech firms and banks need to keep top talent on...