Nearly 1.5 Million Client Interactions Have Been Made Through Bank of America's Erica® in the Past Year | The Economy Digest

Nearly 1.5 Million Client Interactions Have Been Made Through Bank of America’s Erica® in the Past Year

Nearly 1.5 Million Client Interactions Have Been Made Through Bank of America's Erica® in the Past Year

Erica, the most advanced and first widely available virtual financial assistant, has surpassed 1 billion interactions with Bank of America clients. The award-winning technology, powered by artificial intelligence (AI), officially launched in 2018 and has since helped nearly 32 million clients with their everyday financial needs.

 Erica, the most advanced and first widely available virtual financial assistant, has surpassed 1 billion interactions with Bank of America clients. The award-winning technology, powered by artificial intelligence (AI), officially launched in 2018 and has since helped nearly 32 million clients with their everyday financial needs.

“Bank of America has invested $3 billion or more on new technology initiatives each year for over a decade, including significant investments in AI that allow us to deliver a seamless user experience and industry-leading personalization for our clients banking online or on their mobile devices,” explains Aditya Bhasin, Chief Technology & Information Officer. “Our continued investment in Erica’s AI-powered capabilities enables us to quickly respond to voice, text chat, or on-screen interactions from clients who need assistance with financial transactions, and to proactively deliver personalized insights and advice at key moments.”

As Erica’s capabilities have grown, so has its ability to help clients across their entire banking, lending, and investing relationship with Bank of America, including Merrill Edge, Bank of America Private Bank, and Benefits Online. Erica also supports Merrill clients through insights on portfolio performance, trading, investment balances, quotes, and holdings and can help connect clients to a Merrill advisor. Additionally, bankers who support business clients at Bank of America use BankerAssist, an AI virtual assistant leveraging the underlying technology of Erica, to identify and close new opportunities, manage exposure and use real-time data to further client conversations.

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