North Raleigh Today

Digital interactions by Bank of America clients saw a 12% increase last year, totaling 26 billion through digital logins and proactive alerts. These advancements are part of the bank's efforts to enhance experiences for over 58 million verified digital clients.

Proactive digital alerts were received by a record 37.6 million clients, marking a 7% increase from the previous year. These alerts provided real-time financial insights, with nearly 12 billion sent in 2024 alone, an 11% rise from the prior year.

Clients logged into their accounts 14.3 billion times in the past year to manage their finances, including a quarterly high of 3.9 billion logins in Q4, reflecting a 16% year-over-year growth.

Interactions with Erica, Bank of America's AI-driven virtual assistant, reached 676 million last year, bringing total interactions since its launch to over 2.5 billion. Nikki Katz, head of digital at Bank of America, stated that "digital is the centerpiece of our relationship-driven strategy" and described Erica as both "a personal concierge and mission control for their finances."

Erica was also instrumental in providing assistance to clients affected by Hurricanes Helene and Milton and the Los Angeles wildfires through information about the Bank of America Client Assistance Program.

Over six years, Erica has expanded its capabilities to support individual and corporate clients across various platforms like Merrill and CashPro. Approximately 20 million clients have used Erica, up by 7%. CashPro Chat usage has grown significantly among corporate clients since its introduction in 2023.

The use of digital channels for money transfers increased with record participation from approximately 38 million clients completing around three billion transactions worth $2.3 trillion last year. Zelle saw record adoption with users sending and receiving transactions valued at $470 billion in 2024.

In terms of payment approvals using the CashPro App by corporate clients, there was more than a 25% increase from the previous year amounting to over $1 trillion.

A significant portion (55%) of sales occurred through digital channels last year compared to the previous year's figure of 49%.

Bank of America's leadership in digital banking was recognized with nearly 250 accolades throughout the industry in 2024. Recent awards include Best Mobile Banking App by Forbes and #1 Overall for Online Banker Scorecard by Keynova.

Bank of America remains one of the world's leading financial institutions serving various consumer segments globally with comprehensive services ranging from banking to investment management.

For further information or media inquiries:

Andy Aldridge: Phone: +1-980-387-0514 / Email: andrew.aldridge@bofa.com

Matt Card: Phone: +1-202-579-6879 / Email: matthew.card@bofa.com