Tagged: bank of america

July 11, 2021 @ 1:52 pm By Omar Faridi  |  

Bank of America (BofA) had introduced its Cryptocurrency Research Team as part of its latest Wall Street push. Bank of America Corp. (NYSE: BAC) reports that it formed a new division that will focus on conducting research into the applications of cryptocurrencies. This notably marks… Read More

April 9, 2021 @ 6:55 pm By Omar Faridi  |  

The Mexico-based division of Fintech Unicorn Nubank, which is notably the largest standalone digital banking platform in the world, will be acquiring $135 million in capital in order to support its business operations in the Latin American (LatAm) region’s second-largest economy. As first reported by… Read More

April 2, 2021 @ 1:10 pm By Samantha Hurst  |  

Bank of America announced on Friday it has acquired Axia Technologies, Inc. (AxiaMed), a healthcare payment and technology company that is focused on facilitating secure patient payments. The banking giant reported that the acquisition will deepen and expand its payment offerings for healthcare clients, as… Read More

March 18, 2021 @ 11:44 am By JD Alois  |  

Bank of America has published a report on Bitcoin and it is swimming against the tide as the bank throws shade at the world’s most popular crypto as just a vehicle for speculation. The story has been picked up by many outlets at a time… Read More

February 14, 2021 @ 10:49 pm By Samantha Hurst  |  

  Bank of America has announced its plans to achieve net zero greenhouse gas emissions before 2050. The banking giant revealed its plans are built on its longstanding support for the Paris Climate Agreement and is continuing to actively engage with its clients to help accelerate… Read More

December 11, 2020 @ 8:09 am By Omar Faridi  |  

Research firm CBInsights has released a new report titled, Unbundling Bank Of America: How The Traditional Bank Is Being Disrupted. The report looks at mortgages, Robo-advisors, trading software, and also examines how Fintech firms have been trying to “unbundle” Bank of America’s front office. According… Read More

October 7, 2020 @ 2:09 pm By Samantha Hurst  |  

  Bank of America announced earlier this week the launch of Life Plan, a new digital experience through which clients can set and track near- and long-term goals based on their life priorities, and better understand and act on steps toward achieving them. Available within… Read More

October 7, 2020 @ 11:00 am By Omar Faridi  |  

Bank of America or BoA (NYSE: BAC) has introduced a digital tool, called Life Plan, which aims to help clients with setting and keeping track of their financial goals. The new tool is now available through the BofA’s digital banking app and official website. Life… Read More

October 4, 2020 @ 1:55 pm By Omar Faridi  |  

Bank of America or BoA (NYSE: BAC), one of the largest US banks in terms of total assets and scope of operations, has noted that the month of October is Cybersecurity Awareness Month. The BoA, which recently reported that around 97% of its transactions are… Read More

September 1, 2020 @ 4:18 pm By Omar Faridi  |  

Bank of America (NYSE: BAC), a US-based money center bank and financial services company headquartered in Charlotte, North Carolina, reportedly has over 66 million retail customers. The bank reveals that it handles over 10 billion user interactions per year and claims that 97% of them… Read More

July 24, 2020 @ 12:30 am By Omar Faridi  |  

BNP Paribas, a French international banking group that’s ranked as the 8th largest bank in the world in terms of total assets (appr. €2 trillion), will reportedly become an anchor client in the European Union for tech giant IBM’s Cloud for Financial Services framework. The… Read More

May 4, 2020 @ 7:35 am By Omar Faridi  |  

Mobile and online banking users have increased significantly due to the COVID-19 pandemic. This, as banks across the globe have taken measures to limit or restrict in-person visits to physical branches, in order to prevent the further spread of the Coronavirus. A recent J.D. Power… Read More

March 5, 2020 @ 10:17 am By Omar Faridi  |  

A recent study published by Juniper Research claims that by 2024, the number of digital banking customers will surpass 3.6 billion, which would be a significant 54% increase from the current 2.4 billion users in 2020. This considerable growth has been attributed to the steady… Read More

January 29, 2020 @ 2:36 am By Omar Faridi  |  

Zelle, a peer-to-peer (P2P) payment platform, reportedly handled $187 billion worth of payments via 743 million transactions last year. This, according to the latest figures published by network operator Early Warning Services. Zelle’s year-over-year payment values have increased by approximately 57%, meanwhile, transaction volume surged… Read More

November 7, 2019 @ 9:47 am By Omar Faridi  |  

New York-based tech giant IBM revealed on November 6 that it has developed financial services-specific cloud-based technology through a partnership with Bank of America, which will be the first major financial institution to use the new platform. The publicly accessible platform, IBM’s first industry-specific cloud,… Read More

November 1, 2019 @ 5:43 pm By Omar Faridi  |  

Boston, Massachusetts-based Flywire, a Fintech firm focused on solving complex payment problems globally and locally, revealed that it has developed a new international payments solution for Bank of America (BoA).  The new payment system has been specifically designed to streamline international transactions for BoA’s corporate… Read More

October 18, 2019 @ 3:10 pm By Omar Faridi  |  

Charlotte, North Carolina-based Bank of America (BoA), the second-largest US bank with over $2.3 trillion in total assets, is reportedly testing out Ripple’s distributed ledger technology (DLT)-based financial products. The bank might be planning to do more with the San Francisco-based Fintech firm’s technology. Ripple’s… Read More

March 27, 2019 @ 2:57 am By Cali Haan  |  

Bank of America has obtained more patents for “blockchain technology” than any other finance institution, but the company’s tech and operations chief, Cathy Bessant told CNBC she’s underwhelmed by blockchain’s prospects: “What I am is open-minded…In my private scoreboard, in the closet, I am bearish.”… Read More

December 27, 2018 @ 2:05 pm By Samantha Hurst  |  

Bank of America (BoA) has officially filed a new patent for its blockchain-powered ATMs. According to the patent, which was notably filed on December 25th (Christmas Day), the cash handling device will be able to utilize blockchain technology and/or other secure communications technology to facilitate operations. It was… Read More

October 8, 2018 @ 3:03 pm By Samantha Hurst  |  

Bank of America recently announced it is introducing a new feature that will allow clients to move notably easier between the banking group, Merrill Lynch, Merrill Edge, and U.S. Trust mobile apps without having to re-authenticate. Bank of America reported the new feature is part… Read More