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Business


Bank of America Digital Clients Surpass 36 Million


Erica Tops 3 Million Clients; Bank of America Zelle® Transactions Cross $25 Billion This Year

Thursday, September 6, 2018, 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 that Erica, the artificial intelligence-driven, virtual financial assistant, now has more than 3 million users. Since its full launch in June 2018, Erica users have nearly doubled every month.

“So far this year, our clients have digitally logged into their accounts more than 4 billion times,” said Michelle Moore, head of digital banking at Bank of America. “As we strive to meet the evolving needs of our clients, we are focused not only on the high-tech delivery of solutions but also the high-touch aspect of banking to ensure a seamless experience, no matter how our clients choose to engage with us.”

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Erica employs the latest technology in AI, predictive analytics and natural language to better help clients meet their financial needs, and has assisted with more than 8 million client requests through August 2018. Clients are most often engaging Erica to search transactions, view upcoming bills and account balances, and get their credit scores and account numbers.

In line with this growth of Bank of America’s digital footprint, some of its latest innovations are also reaching new milestones.

As clients increasingly turn to Zelle to pay friends and family, Bank of America now has more than 4 million active Zelle P2P users – an increase of more than 80 percent year over year. This year, these users have sent and received more than $25 billion in Zelle transactions.

Bank of America’s Digital Banking Leadership

Bank of America’s digital banking platform is an evolving source of increased client engagement and satisfaction, serving more than 36 million digital clients, including 25 million active mobile users. Its award-winning mobile app was the first to receive J.D. Power’s certification for “An Outstanding Mobile Banking Customer Experience.” During the second quarter of 2018, mobile banking clients logged into their accounts 1.4 billion times, made 139 million bill payments and deposited 34 million checks via mobile.

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 67 million client relationships with approximately 4,400 retail financial centers including more than 1,700 lending centers, more than 1,900 Merrill Edge investment centers and more than 1,300 business centers, approximately 16,100 ATMs, and award-winning digital banking with more than 36 million active users, including 25 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 across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Zelle and the Zelle-related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

Source: https://newsroom.bankofamerica.com/press-releases/consumer-banking/bank-america-digital-clients-surpass-36-million