The Bank Of America Erica AI assistant has surpassed 6 million users and completed more than 35 million client requests.

The usage milestone coincides with the introduction of a series of new features. New Erica insights offer clients personalised, proactive guidance designed to help them stay on top of their finances.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

“Since launching Erica’s proactive insights late last year, daily client engagement with Erica has doubled,” says David Tyrie, head of advanced solutions and digital banking at Bank of America.

Bank of America Erica: latest insights include:

  • Recurring charge increase flag. This notifies clients when a recurring charge or membership fee increases unexpectedly, enabling them to take action if needed. For example, clients can cancel a subscription, reduce an expense, or dispute an incorrect charge they may have otherwise missed. Erica even takes seasonal variations into account for charges such as utility bills.
  • Preferred Rewards: Informs clients when they are eligible. This highlights the benefits of the three-tiered membership programme. And it guides customers  through the enrolment process.
  • Enhanced bill reminders: Alerts clients of all upcoming Bank of America bills and third-party eBills. This includes credit cards, home and auto loans, utilities, and retail within five days of their due date. The insight also provides an integrated view of all scheduled and recently paid bills with associated payment information.

Bank of America is also giving clients more flexibility and security on daily spending. A new functionality within the mobile banking app allows clients to set, manage and control how much they spend on purchases or withdraw from an ATM each day.

Bank of America now serves more than 36 million digital clients, including more than 26 million active mobile users.

During the fourth quarter of 2018, clients logged into mobile 1.5 billion times and deposited 36 million cheques via mobile.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Bank of America Erica