Lloyds Banking Group ('the Group') today announces that it has completed the acquisition of MBNA Ltd (MBNA), a UK consumer credit card business, from FIA Jersey Holdings Limited, a wholly owned subsidiary of Bank of America, following receipt of regulatory and competition approval.
Bank of America has launched new capabilities for mobile clients to complete the auto financing process with the company.
Bank of America says it is working with multiple financial data aggregators to provide customers with the ability to connect data from their accounts to third-party financial management applications.
Americans are embracing person-to-person payments, with more than a third now using services such as Zelle and Venmo to pay each other back, according to a Bank of America survey.
Bank of America Merchant Services and Bypass are teaming up to help arenas, sporting venues, corporate and college campuses, hospital cafeterias and other contract food and beverage operators run their concessions more efficiently through a new unified, digital commerce solution.
The American bank-backed Zelle network processed 170 million person-to-person payments last year boasting an aggregate transaction volume of $55 billion, more than double that of PayPal-owned rival Venmo.
Google has teamed up with several banks - including BofA - to let customers add cards to Android Pay from within their apps.
Bank of America is pumping $1.5 million into a fintech initiative in the firm's hometown of Charlotte, North Carolina.
Bank of America has become the first member of the US bank-backed Zelle network to roll out its P2P payments functionality.
Aditya Bhasin, Consumer and Wealth Management CIO, Bank of America, outlines where banking should focus, and how fintechs and banks can practically work alongside each other.
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