Online Banking and Technology

2/5/20 9:00 am EST

Last year, Bank of America earned 418 patents from the United States Patent Office – more than in any other year in the history of the company. This represents a 31 percent increase over 2018.

These milestones reinforce the culture of innovation at Bank of America. For seven consecutive years, Bank of America has been the top financial services institution on the Intellectual Property Owners Association’s annual list of 300 organizations granted the most U.S. patents, and is in the top 15 of more...

2/3/20 9:00 am EST

Bank of America today announced that its Merrill Edge Self-Directed platform has been recognized with several top rankings and awards. The recent accolades reflect the bank’s ongoing commitment to delivering industry-leading client care, innovative experiences, integrated banking and investing offerings, and intuitive tools to help clients pursue socially responsible investing.

“We are relentlessly focused on delivering a superior client experience and providing clients the insights they need to pursue their more...

12/13/19 9:00 am EST

During an awards ceremony recently in New York City, Bank of America received three American Financial Technology Awards (AFTAs), the most for any financial institution this year.

Hosted by Waters magazine and WatersTechnology.com, the AFTAs recognize excellence in the deployment and management of financial technology within the asset management and investment banking communities.

Bank of America won for Most Cutting-Edge IT Initiative, Best Mobile Strategy Initiative, and Best Compliance Initiative.

  • Most Cutting-Edge IT Initiative: Bank of America more...

12/11/19 9:00 am EST

Bank of America today announced that its artificial intelligence (AI)-driven virtual financial assistant, Erica®, has surpassed 10 million users since its nationwide rollout in June 2018 and is on track to complete 100 million client requests in the coming weeks. These milestones coincide with the introduction of several new Erica insights within the bank’s award-winning mobile app that offer clients personalized, proactive guidance to help them stay on top of their finances.

“Erica is ushering in a new era of personalized more...

12/10/19 9:00 am EST

Bank of America and Code.org® have announced a partnership to expand access to computer science to students in grades K-12 in socioeconomically challenged schools. The volunteer program is being announced as a part of Computer Science Education Week (Dec. 9-15), with in-school visits beginning in early 2020. Bank of America is the first financial services institution to establish a partnership like this with Code.org®.

As part of a $250,000 donation from Bank of America, the program will begin with a focus on underserved campuses in Charlotte-Mecklenburg more...

12/9/19 8:00 am EST

Bank of America today announced the expansion of unlimited commission-free online stock, ETF and option trading to all Merrill Edge Self-Directed investors.1 Zero-dollar trades, together with the firm’s powerful combination of personalized guidance, straightforward tools, professional expertise and the industry-leading Preferred Rewards program, ensure Bank of America and Merrill clients can pursue their financial goals through a more...

11/6/19 12:01 am EST

IBM (NYSE: IBM) today announced that it has designed the world's first financial services-ready public cloud. IBM will welcome financial services institutions and their suppliers to join the financial services-ready public cloud. Bank of America will be a committed collaborator to use the platform built on IBM's public cloud. The bank will host key applications and workloads to support the requirements and privacy and safety expectations of its 66 million banking customers.

The financial services-ready public cloud has been designed to help more...

10/24/19 9:45 am EDT

Bank of America today announced the launch of its newly designed, award-winning mobile banking app that will provide a more seamless and streamlined experience for its approximately 29 million mobile clients. The sleek, modern design makes it even easier to navigate all of Bank of America’s robust mobile banking features. The latest version of the app also includes enhancements to more...

10/21/19 8:00 am EDT

Bank of America today announced that Merrill Edge Self-Directed will expand its zero-dollar online trade benefits, offering unlimited commission-free stock, exchange-traded fund (ETF) and option trading to clients in all tiers of its Preferred Rewards program.1 This expansion further enhances the benefits of this unique program, which rewards members for their full relationship across Bank of America deposit and Merrill more...

10/2/19 2:00 pm EDT

AnitaB.org has named Bank of America a 2019 Top Company for Women Technologists. This is the second consecutive year that Bank of America has been recognized. The award was presented at the annual AnitaB.org Grace Hopper Celebration in Orlando, Florida.

Bank of America had the highest score in the technical workforce category of more than 10,000 employees. The award demonstrates Bank of America’s commitment to being a diverse and inclusive company, which is essential to our ability to meet the needs of our clients, communities and employees.

“Bank of America is a company more...

9/25/19 9:00 am EDT

For the seventh consecutive year, Bank of America remains the top financial services institution on the Intellectual Property Owners Association’s annual list of 300 organizations granted the most United States patents, and is in the top 10 of all holders of United States banking-related patents and applications.

“Technology is important to banking and how we connect with our customers and clients,” said Cathy Bessant, Bank of America’s chief operations and technology officer. “Our more...

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...