Bank of America Integrates Investments into Mobile App

11 de Octubre, 2018

Tiempo estimado de lectura: 1 minuto

This follows BofA’s aggressive push to upgrade its mobile banking app over the last year.

BofA has been integrating features like Erica, its virtual voice assistant that surpassed 3 million users shortly after launching in May and Zelle, the bank-based peer-to-peer (P2P) payment service, which has also been seeing substantial volume. Those efforts have been paying off for the firm, which saw mobile channel usage grow by 30% year-over-year (YoY) in Q2 2018. This integration can continue to increase engagement, as many consumers want wealth management capabilities tied into their mobile banking apps. A majority of those with more than $1 million in assets want their banking and investment services accessible in one place, with 70% of millennials expressing the same sentiment, BofA notes. By simplifying access, this update could keep customers more engaged and loyal across business units, which in turn might help the bank boost returns.

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