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457 Results from "Bank of America"

/crypto

Major US banks consider joint stablecoin venture

US big banks, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo have held discussions on potentially launching a stablecoin that will improve transaction speeds whilst managing competition from encroaching crypto firms.

/payments

Smarter, faster, still relevant: Experts weigh future of US payment systems

Nacha’s Smarter Faster Payments conference in New Orleans highlighted the growing momentum behind real-time payments, emphasising their transformative potential across commercial and technological verticals. Yet, amid this digital shift, sessions also acknowledged the enduring relevance of traditional rails like wire transfers, ACH, and even cheques - each facing its own modernisation challenges.

/markets

Big banks join $63m funding round for Luma

Luma Financial Technologies, a platform for structured products and annuities, has raised $63 million in Series C financing led by Sixth Street Growth and joined by a host of existing Wall Street backers.

/ai

BofA staffers embrace AI virtual assistant

Bank of America says that over 90% of its 213,000 employees now use its AI-driven internal virtual assistant, cutting calls into the IT services desk by half.

/crypto

Bakkt sees shares plunge as crypto firm loses major customers

Shares in digital asset player Bakkt tumbled by more than a third on news that the firm has lost two major customers, Bank pf America and Webull.

/crypto

BofA CEO says bank prepared to launch own stablecoin

Bank of America will look to launch its own dollar-backed stablecoin if US lawmakers make it legal to do so, says CEO Brian Moynihan.

/payments

BNY sends largest instant payment in US history

BNY has used The Clearing House's RTP Network to send the largest instant payment in US history, transferring $10 million to Bank of America on behalf of a client.

/sustainable

US banks leave Net-Zero Banking Alliance

As Donald Trump returns to the White House, JPMorgan Chase has followed a host of other US banks in quitting the Net-Zero Banking Alliance.

/payments

CFPB sues JPMorgan, BofA and Wells Fargo over Zelle fraud

The Consumer Financial Protection Bureau has filed a lawsuit against JPMorgan Chase, Bank of America and Wells Fargo, accusing them of allowing fraud to "fester" on P2P payments platform Zelle.

/ai

AI patents at BofA increase 94% since 2022

Bank of America's artificial intelligence push has led to a 94% increase in AI and machine learning granted and pending patent applications since 2022.

/retail

BofA launches account to help parents teach kids money lessons

Bank of America has launched an account designed to help parents teach their children how to manage money.

/retail

Bank of America to open 165 new branches

Bank of America is the latest US lender to double down on its branch network, pledging to open more than 165 "financial centres" by the end of 2026.