Bank of America Delivers First Widely Available AI–Driven Virtual Financial Assistant

Bank of America is rolling out the first widely available AI-driven virtual assistant of its kind in financial services, Erica, to its 25 million mobile clients. This latest innovation reflects the bank's continued investment in digital capabilities as part of its high-tech, high-touch client experience, including the Digital Mortgage Experience, mobile car shopping tool, Merrill Edge Guided Investing, and Business Advantage. "Everything we do is based on what we hear from our clients: how they want to interact with us and how we can make their financial lives better," said Michelle Moore, head of digital banking at Bank of America. "Erica delivers on this in many ways, from making it easy for clients to find what they are looking for to providing new and interactive ways to do their banking using voice, text or gesture. Through Erica, we are also delivering personalized solutions at scale by providing insights, such as how you can improve your credit score or create a budget."