Online Banking and Technology

2/6/19 9:30 am EST

Bank of America today introduced Business Advantage 360, a new digital dashboard designed to make it easier for entrepreneurs to manage the various financial aspects of their business. Available for the first time to any Bank of America client with a business deposit account, Business Advantage 360 provides a complete view of business cash flow and access to real-time expertise and guidance – all in one simple tool with new functionality.

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1/30/19 9:00 am EST

Bank of America today announced that it will expand eligibility for commission-free online stock and ETF trades through Merrill Edge. This benefit has been available for clients enrolled in the higher tiers of the Preferred Rewards program for the past four years and will extend to all enrolled clients, regardless of tier, starting in the second quarter of this year.

Launched in 2014, Preferred Rewards is a first-of-its-kind, comprehensive loyalty program based on a client’s full relationship across Bank of America banking and/or Merrill Edge and Merrill Lynch more...

1/3/19 9:00 am EST

Merrill Edge today introduced Fund Story, a new research experience designed to help self-directed investors more easily evaluate mutual funds and ETFs, including holdings, costs and ratings. This innovative feature is designed to provide investors a greater understanding of their assets and ultimately help them make better investing decisions.

The new experience complements Stock Story, Merrill Edge’s award-winning stock research more...

12/12/18 9:30 am EST

Bank of America today announced several updates to its award-winning mobile banking app to provide a seamless experience wherever and whenever clients choose to bank.

One of the most significant enhancements is a redesigned, industry-leading iPad app experience. Designed to closely mirror the Bank of America iPhone mobile banking app, the experience offers new features and makes it easier for clients to manage finances on their terms.

”With 26 million mobile clients and growing, a smooth experience across all devices and channels is always our top priority,” said David more...

11/19/18 3:11 pm EST

Bank of America today announced that person-to-person (P2P) payments are experiencing record-breaking growth, as clients sent and received $4.3 billion with Zelle in October 2018. This represents the highest monthly volume to date and is an increase of more than 100 percent year over year, continuing the upward P2P growth trend.

“Our clients are increasingly turning to cashless solutions, and Zelle’s strong growth is evidence of a continued evolution in payments,” said David Tyrie, head of advanced more...

11/9/18 5:12 pm EST

Bank of America today announced that its artificial intelligence (AI)-driven virtual financial assistant, Erica, now has more than 4 million users. Since its client launch which completed in June, Erica has helped clients with over 15 million requests. Top requests include searching past transactions, viewing account and routing numbers, sending money with Zelle®, paying bills, managing credit and debit cards, and contacting a specialist.

This latest milestone follows our recent introduction of Erica more...

11/5/18 11:00 am EST

Bank of America Merrill Lynch today announced its upcoming addition of document exchange and e-signature capabilities in CashPro® Assistant, an online bank administration tool that helps commercial and corporate clients more easily conduct standard account management transactions as well as access and analyze their banking information.

Exchanging documents and enabling electronic signing over the authenticated CashPro platform simplifies a cumbersome paper-based process. Examples of documents to be exchanged and signed include know-your-customer, legal agreements, account opening more...

10/11/18 9:00 am EDT

Bank of America has been named a winner of AnitaB.org’s 2018 Top Companies for Women Technologists, earning the highest total score for a company with a technical workforce of over 10,000 employees. Known for its dedication to increasing the presence and contributions of women in technology, AnitaB.org presented the award as part of its annual Grace Hopper more...

10/4/18 11:30 am EDT

Bank of America today announced that it is introducing a new feature that will allow clients to move seamlessly between the Bank of America, Merrill Lynch, Merrill Edge and U.S. Trust mobile apps without having to re-authenticate. The new feature is part of a broader approach designed to make it easier for clients to manage their banking and investing activities in one place.

This more...

9/26/18 9:00 am EDT

Bank of America Merrill Lynch (BofA Merrill) is accelerating its investment in mobile capabilities, and today is introducing a second wave of enhancements for 2018 that improve the CashPro Mobile user experience.

The new features that are available now offer a simpler and more...

9/6/18 11:00 am EDT

Bank of America today announced that it surpassed 36 million digital banking clients across its online and mobile banking offerings. This includes more than 25 million clients using the bank’s mobile app, which continues to add thousands of new users every day.

The bank also announced more...

7/13/18 11:00 am EDT

Bank of America today announced that its artificial intelligence-driven virtual financial assistant Erica now has more than 2 million users. This latest milestone more than doubles Erica’s users in less than one month.

This announcement comes on the heels of yet another mobile milestone for the bank as total Zelle active users at Bank of America approaches 4 million. As the bank’s clients have increasingly turned to cashless solutions, Bank of America saw 35 million Zelle person-to-person (P2P) transactions move $10 billion in Q2 2018. This is up 143 percent and 118 percent, more...

6/25/18 1:00 pm EDT

Starting this week, Merrill Lynch clients will be able to use their Merrill Lynch mobile app to scan and send paper documents to their financial advisors using the latest in a series of enhancements to the mobile app designed to make the financial lives of clients easier and more secure. The new scanning feature uses the device’s camera to capture images of each page and converts them into a single PDF file, which clients can then securely send to more...

6/12/18 7:00 am EDT

Bank of America today announced that it has surpassed 1 million users on Erica, the first widely available AI-driven virtual assistant in financial services, available to clients in its mobile banking app. The milestone was reached within two months of completing its phased rollout, making Erica available to mobile clients nationwide.

“Our clients are increasingly asking for mobile services that make their lives easier, and Erica is becoming a growing choice for its convenience and personal solutions,” said Michelle Moore, more...

5/18/18 9:30 am EDT

Bank of America is rolling out the first widely available AI-driven virtual assistant of its kind in financial services, Erica, to its 25 million mobile clients. This latest innovation reflects the bank’s continued investment in digital capabilities as part of its high-tech, high-touch client more...

5/17/18 9:00 am EDT

Private capital is being called upon to solve some of the world’s most pressing social and environmental issues. At the same time, the business and investment worlds appear to be focused increasingly on the short term. In two new white papers, the Chief Investment Office of Bank of America’s Global Wealth and Investment Management division examines these converging trends and assesses the risks and benefits of impact investing. 

Deconstructing Risks in Impact Portfolios more...

5/15/18 4:00 am EDT

Today, Bank of America Merrill Lynch (BofAML) and Code First: Girls (CF: G) announced a partnership to help 20,000 women in the UK and Ireland to code by 2020, as part of the Code First: Girls 20:20 Campaign.

Through their involvement in the campaign, BofAML will provide financial support, and their technologists will help train CF: G students. Training will also be rolled out to the bank’s own female employees who are interested in learning to code. This will open up other more...

4/24/18 3:57 pm EDT

Bank of America was named today as Celent’s 2018 Model Bank of the Year. Celent is a global research and advisory firm for the financial services industry.

Celent’s annual award program recognizes financial institutions as “model banks” for their outstanding technology initiatives, which must demonstrate clear business benefits, innovation, and technology or implementation excellence.

“We are proud that our customer-focused innovation earned Bank of America recognition as Celent’s 2018 Model Bank of the Year,” said Aditya Bhasin, Consumer and Wealth Management Technology more...

4/19/18 12:35 pm EDT

Bank of America today announced that its Global Information Security group has won the SC Magazine Professional Award for Best Security Team.

The award was presented to Bank of America’s Global Information Security Group on April 17 during the 2018 SC Awards Gala held in San Francisco, Calif. Craig Froelich, Bank of America’s chief information security officer (CISO), was also named as a finalist in the “CSO of the Year” category.

The 2018 Professional Award winners were chosen by a panel of judges comprised of recognized security professionals and leaders from a variety of more...

4/11/18 9:00 am EDT

Bank of America’s Digital Mortgage Experience™, launched this week, seamlessly guides clients through the mortgage process via the bank’s award-winning mobile banking and online platforms. With advanced application prefill capabilities, clients more...