'Smarter than a robot,' Bank of America's Erica will coach customers

Michelle Moore, head of digital banking for Bank of America, said in an interview on Monday that Erica will be smarter than a robot because she will bring up topics on her own, using predictive analytics as opposed to only answering questions customers ask. For example, Erica may recommend taking steps to lift a sagging credit rating she noticed. Or, she may propose a customer make higher monthly payments on an outstanding credit card balance to reduce interest expenses. "Erica has your back and she's looking out for you," said Moore. The bank plucked the name Erica from the last five characters of its own name, said Moore, who introduced the tool on Monday at the Money 20/20 financial industry conference in Las Vegas.