“Erica is proving very popular with customers. Less than 12 months after its launch, in May 2019, the chatbot was in use by seven million clients and had completed 50 million client requests. By December 2019, those numbers had risen to 10 million users and close to 100 million client requests. As for the predictive messaging, on average…
Tag: Bank of America
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. Bank of America currently claims 29 (likely typo missing “Million”) mobile banking clients, representing 60% of the bank’s total account base in 17…
“Bank of America Corp. and International Business Machines Corp. have teamed up to develop a public-cloud computing service for banks, which have been reluctant to store customers’ financial data outside their in-house systems. Venmo, a digital money-transfer service operated by PayPal Holdings Inc., reported more than 40 million active users for the first three months…
Bank of America revamps mobile app with new AI features
“Bank of America redesigned its mobile app to improve navigation for its 29 million mobile banking customers. Erica, its virtual voice assistant that has about 9 million users, per an announcement. The bank reported a 76% surge to $20.8 billion in payments through Zelle Mobile activity made up 52% of its digital consumer sales, demonstrating…
Bank of America’s AI approach: ‘Productive paranoia’
“While a number of companies are talking about the responsible use of artificial intelligence, most are vague about what it means and how to do it. In a fireside chat at American Banker’s BankAI conference in Chicago this week, Sumeet Chabria, global business services executive at Bank of America, discussed how his bank approaches responsible…