Most of Wall Street’s biggest banks have started moving most of their infrastructure to the public cloud but Bank of...
The new digital assistant is launching inside the Bank of America mobile app next year and will be named Erica; the bank is looking for the tool to help customers better understand their spending habits and offers different ways to stay financially fit; Erica will use artificial intelligence and predictive analytics to help customers make payments, check balances, save money and pay down debt. Source
Sharon Miller, head of Bank of America’s small business banking, sat with TearSheet to talk about hiring, technology and what’s...
Its new widget allows consumers to initiate a payment from their phone's home screen instead of opening an app to potentially reveal their full banking details to prying eyes.
Bank of America Merrill Lynch says they are implementing HighRadius, an enterprise software AI solution to speed up reconciliation of receivables; they specifically are looking to focus on the bank's largest business clients; HighRadius uses AI, machine learning and optical character recognition to match a payment to a receivable; this will help cut down on some of the labor intensive work and more efficiently be able to send payment reminders to clients; BAML is the latest bank using AI to improve processes and cut cost. Source
Hablando en el Foro Económico Mundial (WEF) en Davos, Brian Moynihan reveló que el banco no tiene planes de explorar productos criptográficos en este momento.Patrocinado Patrocinado Dio a conocer su postura en una entrevista con Yahoo Finance y dio un asertivo “No” a la pregunta.Patrocinado...
Consumer and small business credit scoring platform, Nav, will now offer its small and medium-sized enterprise customers loans and financing services by Bank of America; Nav uses its MatchFactor algorithm to help show borrowers their chances of approval and have thus far helped to facilitate funding to over 160,000 companies; Nav CEO and Co-Founder Levi King said, "We are proud to partner with Bank of America, giving business owners even more ways to access the financing they need." Source
Bank of America has struck a partnership with Samsung to start a pilot program that will allow Bank of America customers to login using a picture of their eye; the program will start with a group of 1,500 Samsung and Bank of America employees who will test the authentication for six months; according to a past report by American Banker, about half of Bank of America customers login to the mobile app using their fingerprint and the other half login with a username and password; according to Finovate, Samsung debuted this iris scanning technology at their Unpacked event in March and they claim it to be more secure than fingerprint scans. Source
Bank of America earned 418 patents in 2019, which is 100 more than the 318 they earned in 2018 and...
Prior to initiating an electronic payment, a BofA client using the service can verify the status of an account and authenticate its owner.