Tagged: bank of america

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

September 13, 2018 @ 10:00 pm By Samantha Hurst  |  

Bank of America Merrill Lynch announced on Thursday it is launching mobile wallets specifically for business cardholders. The banking group reported that starting this September, mobile wallets will begin to make its commercial clients’ lives easier through faster, more secure and more efficient business purchases… Read More

July 23, 2018 @ 3:04 pm By Samantha Hurst  |  

Bank of America Merrill Lynch announced on Monday it has launched a mobile application for cardholders of prepaid cards. According to Merrill Lynch, the new app launch demonstrates the bank’s commitment to making the lives of our clients and their cardholders easier by bringing new, digital… Read More

April 13, 2018 @ 9:10 am By Samantha Hurst  |  

Banking giant Bank of America announced earlier this week it has launched its new product, Digital Mortgage Experience, to guide clients through the mortgage process through its mobile banking and online platforms. According to Bank of America, with advanced application prefill capabilities, clients may apply for a… Read More

February 25, 2018 @ 5:05 pm By JD Alois  |  

Bank of America, one of the largest banks on the planet, published its 10-K with the Securities and Exchange Commission (SEC) this past week. The Annual Report for most publicly listed institutions is a routine event with few people digging into the document except for… Read More

December 17, 2017 @ 3:26 pm By Rae Steinback  |  

We’ve been hearing a lot of talk about chatbots lately. Some of these conversations are about the ways that companies are having success with chatbots, but others are about brands that have failed to implement them properly. What is A Chatbot? A chatbot is a… Read More

March 2, 2017 @ 10:07 pm By Jessica Pham  |  

Does “Can you Zelle me the payment?” have the same ring to “You can just Venmo me?” A company knows that it has made it when people turn its name into a verb, as Venmo and Uber (despite its bad press these past few weeks)… Read More

January 19, 2017 @ 1:13 am By Jessica Pham  |  

Reports came out during the holiday season last year of banks quietly stocking up on blockchain patents.  Banks will compete with startups making the same moves.  They will also compete for patents with trolls who suppress innovation. The future of blockchain innovation depends on who… Read More

December 16, 2016 @ 9:22 am By Samantha Hurst  |  

On Thursday, small business financing marketplace Nav announced Bank of America has officially joined its platform. The lender revealed it now has the most business financing options available in one location, streamlining access to over 100 business credit cards and business loan products. According to… Read More

March 10, 2016 @ 5:01 am By Erin Hobey  |  

Early Warning, a leading real-time payments, authentication and risk mitigation platform, announced that Bank of America is now processing real-time P2P transactions through Early Warning’s clearXchange network. Customers at both banks are now able to send eligible real-time P2P payments to customers at BoA or U.S…. Read More