New unified app receives 2024 Celent Model Bank award for
customer-centered innovation
CHARLOTTE, N.C., March 21, 2024 /PRNewswire/ -- Bank of America
has launched a massive update to its mobile app, reimagining how
clients interact with their finances. As digital engagement
continues to soar, 57 million digital clients can now view and
manage their full financial lives through a new, unified digital
platform that consolidates five apps – Bank of America,
Merrill Edge, MyMerrill, Bank of
America Private Bank and Benefits OnLine – into one personalized
experience.
"Our mission is to continuously innovate and evolve our digital
capabilities to provide best-in-class solutions for all of our
clients," said Nikki Katz, Head
of Digital at Bank of America. "By combining five apps into
one, we're putting clients at the center of the experience, with
our full enterprise and next-gen technology at their
fingertips."
The Bank of America mobile app is one of the first in the
industry to combine banking, investing and retirement within one
simplified mobile experience. Additional features of the reimagined
app include:
- One personalized financial picture. A streamlined
Accounts Overview experience provides clients with a summary of
their accounts across banking, investing, and retirement.
- Full suite of digital tools in a single app. A
consolidated platform home to Bank of America's suite of digital
solutions, including Life Plan® and the Net Worth Estimator™ Tool,
tailored to each client's financial needs.
- Payments and Transfer hub. One location in the app for
clients to pay bills, transfer money between accounts, split the
dinner bill with friends, receive customer payments and receive
domestic and international wire transfers.
- Even more ways to send money. Starting this month,
clients are able to send domestic and international wire transfers
in more than 140 currencies to 200 countries, all from the Bank of
America mobile app, available in English and Spanish.
Bank of America's mobile banking app has long been recognized
for its user-friendly design and experience. This week, the
company's new unified mobile app experience was recognized with the
2024 Celent Model Bank award for Customer-Centered
Innovation.
"Just as banks race to market with unified consumer and business
banking apps, Bank of America raises the bar even higher," said
Bob Meara, Principal Analyst,
Celent, a global research and advisory firm for the financial
services industry. "This customer-centered initiative may be
conceptually simple, but it represents a huge win-win for Bank of
America and its millions of clients."
These mobile app enhancements come amidst record digital
engagement. Last year, Bank of America clients digitally connected
with their finances a record 23.4 billion times, 11% increase
year-over-year. Within its digital channels, more than 19
million clients are also actively engaging with Erica – the most
advanced and first widely available virtual financial assistant –
to make managing their finances even easier.
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 69 million consumer and small
business clients with approximately 3,800 retail financial centers,
approximately 15,000 ATMs (automated teller machines) and
award-winning digital banking with approximately 57 million
verified digital 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 4 million
small business households 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 is listed on the New York Stock
Exchange (NYSE: BAC).
Zelle and the Zelle-related marks are wholly owned by Early
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For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America newsroom
and register for news email alerts.
Reporters may contact:
Andy
Aldridge
Phone: 1.980.387.0514
andrew.aldridge@bofa.com
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SOURCE Bank of America Corporation