Latest Bank of America News: Finextra Research

Bank of America hails surge in mobile P2P payments

Bank of America has announced record-breaking person-to-person payments uptake, with millennial users of the Zelle app leading the charge.

22 August 2019

/retail

BofA terminates First Data partnership/JPM Chase closes collaboration with OnDeck

Bank of America is to terminate its merchant services partnership with First Data when the ten-year contract expires in June 2020.

31 July 2019

/devops

Top US banks unite for 'Fintech Focus' coding bootcamp

Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo are to turn their New York offices into coding bootcamps for under-represented college students in a new initiative intended to increase the representation of women and people of colour in software engineering within the financial services industry.

17 July 2019

/ai

Bank of America's Erica chatbot wins over customers

Bank of America says customers are warming to its AI-driven virtual financial assistant Erica, which has surpassed 6 million users and completed more than 35 million client requests.

25 March 2019

/retail

N26 becomes Europe's most valuable fintech startup

German digital bank N26 has become Europe's most highly valued non-listed fintech startup following a $300 million fundraising round that prices the company at $2.7 billion.

10 January 2019

/ai

BofA faces trademark suit over Erica chatbot

Bank of America has been sued by a man over the use of the name "Erica" for its in-app AI-powered virtual assistant chatbot.

12 November 2018

/retail

US banks and fintechs form group to tackle customer data-sharing

Some of America's biggest banks have joined forces with fintech firms to launch a non-profit organisation that tackles the contentious issue of sharing consumer data.

18 October 2018

/ai

Bank of America allocates tax windfall to digital investments

Bank of America is to allocate an additional $500 million from tax reforms to its digital spend over the next few quarters, as previous investments in mobile apps, P2P money transfers and customer-facing AI come good.

17 July 2018

/retail

Visa and Mastercard near $6.5bn interchange settlement - WSJ

Visa, Mastercard and some of America's biggest banks look set to pay merchants around $6.5 billion to settle a long-running battle over interchange fees, according to the Wall Street Journal.

28 June 2018

/retail

BofA launches digital mortgage service

Bank of America has rolled out a digital mortgage service, enabling customers to apply online or via the bank's mobile app, often getting conditional approval on the same day.

12 April 2018

/retail

BofA lets customers link cards to PayPal accounts from mobile app

Bank of America customers can now add credit and debit cards to their PayPal accounts directly from the lender's mobile app.

21 March 2018

/retail

BofA to open 500 new branches

Bank of America is planning to open more than 500 branches over the next four years as part of a programme that will see another 1500 sites revamped with new technology.

27 February 2018

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