Bank of America is to slash about 8000 jobs from its consumer banking division and further trim its branch network as the digital revolution in financial services gathers pace.
Bank of America announced today that it has begun an initiative to enhance the accessibility of its online mortgage documents for visually impaired customers.
Bank of America is to tap Facebook's Messenger app as a new channel for communicating with customers.
In the latest step at simplifying consumer payments, Bank of America announced today that it will pre-select customers’ eligible Visa cards for enrollment in Visa Checkout directly from Online Banking.
Bank of America has shipped one of its top executives, Thong Nguyen, from its Charlotte headquarters to San Francisco as it looks to boost it mobile payments technology by forging partnerships and making acquisitions.
US Bank and Bank of America have become the first banks to offer real-time peer-to-peer money transfers to consumer mobile phones over the clearXchange network.
Bank of America is in the process of filing 20 new blockchain-related patents, adding to the 15 it has already submitted to the US Patent and Trademark Office (USPTO).
JPMorgan Chase is revamping its ATM fleet, enabling customers to make cash withdrawals with their mobile phones, rather than cards.
Robo-advisors using algorithm-based systems to provide financial advice to consumers will consign 25 million jobs in the financial and legal sector to the scrap heap over the next two decades says Bank of America, in a report which paints a bleak future for the human workforce as new robot workers transform the global economy.
An initiative to create a set of global standards for the use of distributed ledger technology in financial markets has picked up momentum, with another 13 major banks - including BofA, Deutsche Bank and HSBC - throwing their weight behind the plan.
© Finextra Research 2017