Latest Bank of America News: Finextra Research

Big US banks pilot data sharing risk assessment service

Bank of America, JPMorgan Chase, PNC Bank, TD Bank, Truist, US Bank, and Wells Fargo have piloted a data sharing risk assessment service that streamlines risk evaluations of data aggregators and financial apps.

27 January 2021

/people

Oxford University professor: ‘There is a real threat that fintech will set gender diversity back’

One of Sibos’ first panel sessions for 2021, ‘Make 2021 the year to improve your bank’s diversity’, saw panellists raise concern over the lack of diverse representation in financial services, particularly fintech.

12 January 2021

/payments

EBAday 2020: Batch processing gives way to the instant payments revolution

At EBAday 2019 in Stockholm, Deutsche Bank’s Koral Araskin highlighted that if instant payments is the new normal, banks will heavily depend on cash buffers to cover all payment flows - even those which come outside of normal working hours. "Is this really meaningfully achievable?" he pondered last year. The events of 2020 and the impact of Covid-19 have truly shown that it must be achievable.

24 November 2020

/retail

BofA launches financial planning tool

Bank of America has unveiled a digital tool, called Life Plan, that helps customers set and track their financial goals.

07 October 2020

/wholesale

Client is king: How two US banks optimise tech execution

In anticipation of Sibos 2020, we zero-in on a key focus area that financial institutions across the payments landscape will be paying close attention to as technology becomes more complex, consumers more sophisticated, and margins ever-more slim. That is, getting the most out of technology investments by improving execution.

30 September 2020

/cloud

BNP Paribas joins IBM Cloud for Financial Services initiative

BNP Paribas is to become an anchor client in the EU for IBM's Cloud for Financial Services framework, developed in collaboration with Bank of America to drive financial-grade security and compliance controls in public cloud infrastructures.

22 July 2020

/security

Bank of America leak exposes business details of PPP relief applicants

Bank of America accidentally exposed the personal details of applicants applying for loans from the Paycheck Protection Program during a test submission to the US Small Business Administration system.

22 May 2020

/covid-19

Bank of America's Head of FIs GTS: Cash has increased in prominence as a security

Despite the assumption that the Coronavirus pandemic will prove the last nail in the coffin, Bank of America's head of financial institutions GTS believes demand for paper money as a security has in fact increased.

29 April 2020

/sustainable

BofA global environmental exec: Addressing climate change goes beyond business-as-usual

Alex Liftman, global environmental executive, Bank of America (BofA), believes “significantly accelerating progress on addressing big global issues like climate change requires going beyond business-as-usual financing to find innovative approaches that can help attract a larger share of capital from a broader set of investors.”

08 April 2020

/people

IBM hires BoA CTO Boville to lead cloud biz

IBM has hired former Bank of America chief technology officer Howard Boville as head of its cloud business.

07 April 2020

/ai

Bank of America AI chatbot surpasses 10 million users

Bank of America's mobile chatbot Erica has surpassed 10 million users since its nationwide rollout in June 2018 and is on track to complete 100 million client requests in the coming weeks.

12 December 2019

/cloud

IBM launches 'financial-services ready' public cloud with Bank of America

IBM has launched a public cloud platform designed specifically to meet bank requirements for regulatory compliance, security and resiliency and brought Bank of America onbopard as its first client.

06 November 2019

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