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Bank of America Debuts New Mobile Tools Focused on Personalization

New Enhancements Give Customers Flexibility to Choose What’s Most Important to Them

Wednesday, September 6, 2017 9:01 am EDT

Dateline:

Charlotte
"With 23 million mobile customers and growing, improving the customer experience is always a top priority"

BAC - Mobile DashboardBank of America today announced a series of updates to its award-winning mobile app to further customize the user experience and continue its investment in innovation that improves the financial lives of its customers.

“With 23 million mobile customers and growing, improving the customer experience is always a top priority,” said Michelle Moore, head of digital banking at Bank of America. “By taking a customer-first approach to innovation, we continuously raise the bar to deliver new, personalized experiences that make it easier for customers to achieve their financial goals.”

The newest mobile enhancements include:

  • Mobile dashboard: Accessible from the home screen, the dashboard feature allows customers to customize tiles to the features they use most, including Account Balances, Card Rewards, Spending and Budgeting Tool, FICO® Scores, Mobile Alerts, BankAmeriDeals and Zelle™ person-to-person (P2P) payments. This one-screen view will help give customers a quick snapshot of their finances all in one place.BAC - Goal-Setting Tool

  • Goal-Setting Tool: In partnership with Better Money Habits®, the new Goal-Setting Tool will begin rolling out this month. Customers will be able to create personalized savings goals with names, pictures and target amounts so they can watch their progress along the way and prioritize funds accordingly.  

  • A new way to get cash at ATMs: Bank of America has one of the largest cardless-enabled ATM networks with 10,000 ATMs and growing, and our customers can now start an ATM withdrawal directly from their mobile banking app. Customers simply log into the app and select the desired amount to withdraw. When they arrive at the ATM, they can either use their smartphone or debit card, enter their PIN, and a personalized screen will display asking the customer if they are here to complete the withdrawal, which eliminates four steps at the ATM. In addition, new capabilities have recently been added to contactless ATMs, including the ability to check balances, transfer funds, make deposits and credit card payments and, later this month, the ability to change your PIN.


Bank of America is also improving the online experience for our customers with:

  • Improved Online Bill Pay experience: Customers will begin to enjoy a streamlined Online Bill Pay experience over the next few months that will enable them to more easily and quickly access and pay their bills. Some key enhancements include:BAC - Mobile Cash Withdrawals

    • An improved experience that puts the most common tasks all on one page and additional Pay To account logos displayed for quicker payee identification.
    • Better bill management capabilities, such as the ability to put Pay To accounts in groups and the addition of a list of recent payments.
    • A more accessible and easy-to-use process to add or edit automatic payment plans.

  • Redesigned home page: Bank of America is rolling out a redesigned home page (www.bankofamerica.com) that provides customers a personalized and engaging experience, with a more modern look and feel. This new page will be optimized to provide ease of use, no matter the device used to access it.


To learn more about the new features or download imagery, visit bankofamerica.com.

 

Bank of America’s Mobile Banking Leadership
With 23 million active mobile users and growing, Bank of America’s mobile banking platform is an evolving source of increased customer engagement and satisfaction. During the second quarter of 2017, mobile banking customers logged into their accounts 1 billion times, or approximately 47 times per user. During that same period, customers made more than 30 million mobile bill payments and nearly 11 million P2P transfers, a growth of 89 percent over 2016. Customers also used their mobile devices to deposit more than 340,000 checks daily and redeem over 1 million credit card cash and travel rewards. More customers are opening new accounts through mobile, with sales increasing by 47 percent over the past year.

Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,500 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 34 million active users, including 23 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

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www.bankofamerica.com

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Reporters May Contact:
Betty Riess, Bank of America, 1.415.913.4416
betty.riess@bankofamerica.com

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