Latest Bank of America News: Finextra Research

US banking heavyhitters invest $20m in low-code platform Genesis

Bank of America, BNY Mellon and Citi have invested $20 million into the low-code platform, Genesis Global.

27 July 2022

Firms failing to monitor social messaging

Financial services firms are falling short in their efforts to monitor employees' use of social media messaging despite ear-marking communications surveillance as an investment priority, according to recent research.

19 July 2022

/crime

Bank of America fined $225 million for unlawfully freezing accounts during Covid-19 pandemic

The Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) have fined the Bank of America (BofA) for their deficient disbursement of state unemployment benefits during the Covid-19 pandemic.

15 July 2022

/wealth

BofA invests in iCapital

Bank of America has built on its partnership with iCapital Network by making a strategic investment in the alternative investment platform.

23 June 2022

/sustainable

Bank of America pledges £1.2 million to Oxford research teams tackling climate change

Bank of America has pledged £1.2m to the University of Oxford to support greenhouse gas removal and sustainable finance research at the Smith School of Enterprise and the Environment.

10 May 2022

/payments

Bank of America to switch all cards to recycled plastic; Citi starts corporate card conversion

Bank of America is to convert all of its credit and debit cards to 80% recycled plastic starting in 2023.

22 April 2022

/payments

Zelle's bank owners split on competing with cards at the checkout - WSJ

Some of the banks behind Zelle want to take the American P2P payments service to the checkout, taking on Visa and Mastercard, according to the Wall Street Journal.

07 April 2022

/identity

US banks back ID verification service

Some of America's biggest lenders have joined forces with Early Warning on a service that lets people use their bank login details to verify their identity when using participating business' sites and apps.

06 April 2022

/markets

Wall Street players launch syndicated loan platform

Some of the biggest banks on Wall Street are backing a new syndicated loan platform, called Versana, that is aiming to bring transparency, efficiency and velocity to the $5 trillion market.

17 March 2022

/security

BofA launches Account Validation service

Bank of America has rolled out a fraud prevention service for corporate and public sector clients making payments in the US.

29 October 2021

/sustainable

Reaching net-zero will require $5 trillion every year for the next 30 years, says BoA report

Ahead of COP26, Bank of America Global Research has issued a net-zero primer and stocks picks report, which predicts that $5 trillion will need to be invested every year for the next 30 years, if global emissions targets are to be reached.

15 October 2021

/Sibos

Sibos 2021: How can banks take meaningful action on climate change?

With COP26 fast approaching, and the financial industry facing additional costs to comply with government actions on climate change, it needs to start asking itself some tough questions, namely: Are we acting responsibly for the future? Are we driving carbon neutrality in the businesses we finance? Are we acting as an enabler for investments to lower the cost and increase the deployment of low-carbon technologies?

14 October 2021

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