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.
The AI-driven personal assistant helps users with a host of simple transactions such as money transfers and balance enquiries..
“Erica is ushering in a new era of personalized banking and providing our clients never-before-possible convenience,” says David Tyrie, head of advanced solutions and digital banking at Bank of America. “Our high-tech capabilities together with our high-touch approach deliver a more intuitive and efficient banking experience for our clients across all channels.”
The milestone in user engagement coincides with the introduction of a series of new features in the mobile app, including instant notifications of refunds from merchants and loyalty programme guidance. On the horizon from early next year are features that update users on merchant list information when a card is replaced and provides notifications on duplicate charges and dispute resolution.
Bank of America currently claims 29 mobile banking clients, representing 60% of the bank's total account base in 17 major cities and 50% nationwide.