Online Banking and Technology

7/11/19 9:00 am EDT

Euromoney magazine has named Bank of America the World’s Best Bank for Diversity and Inclusion. This is the second consecutive year and third time in four years that Bank of America has been recognized in this category. Bank of America received Euromoney’s inaugural D&I award in 2016.

The global D&I award goes to the firm that shows a strong track record for initiatives promoting diversity and inclusion within their own company, and the markets and industry more generally. The winning company must also demonstrate that their diversity policy is having a positive effect on more...

6/25/19 9:00 am EDT

Bank of America today announced the launch of a digital debit card and other enhancements to its award-winning mobile banking app designed to make it easier and more convenient for clients to manage their finances on the go. These latest enhancements further advance the company’s high-tech and high-touch approach to helping clients meet their financial goals.

This digital debit card has the same protections and more...

6/3/19 9:00 am EDT

Bank of America today announced the launch of Merrill Guided Investing with an advisor, a new offering that will deliver advice and guidance to clients through a Merrill Financial Solutions Advisor (FSA) and an enhanced digital platform.

“This offering completes a powerful continuum of wealth management capabilities virtually unmatched in the industry,” said Aron Levine, head of Consumer Banking and Investments for Bank of America. “This new high-tech and high-touch offering is designed to serve clients who want both more...

5/28/19 1:00 pm EDT

Bank of America today announced that its virtual assistant, Erica, is already helping more than 7 million clients stay on top of their finances through the company’s award-winning mobile app. Since its nationwide rollout in June 2018, Erica has:

5/16/19 9:10 am EDT

Bank of America was today recognized as a leader in The Forrester Banking Wave™: U.S. Mobile Apps Q2 2019 report.

 

  • Bank of America received the top ranking in three evaluation criteria, including self-service features, privacy and security cues, and content, and ranked among the highest in progress and workflow.
  • Bank of America achieved an overall score 10 points higher than the evaluation average, and was one of only two U.S. banks to meet or exceed the average in more...
3/21/19 9:00 am EDT

Bank of America today announced that Erica, its artificial intelligence (AI)-driven virtual financial assistant, has surpassed 6 million users and completed more than 35 million client requests. This milestone coincides with the introduction of a series of new features in the award-winning mobile app, including several new Erica insights that offer clients personalized, more...

2/28/19 12:00 pm EST

Merrill Edge was recognized in Barron’s 2019 Best Online Brokers review, receiving four out of five stars for the sixth consecutive year and ranking fifth overall, up a spot from sixth in 2018. 

This ranking follows the 2019 annual review by StockBrokers.com, which ranked Merrill Edge No. 1 for “Overall more...

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...