Posts Tagged ‘bank of america’

While some companies are keen on trimming the number of legacy IT applications through consolidation, they all agree that investments in technology are critical when it comes to operating in a digital world that has created incredibly high customer expectations. The adoption of mobile devices has significantly changed the operating landscape. During his remarks that […]

Boosting productivity through automation is another goal of the industry. Automation drives down costs and enables better control and compliance. It gives firms scale by allowing them to better serve existing customers and address new segments of customers by allocating resources to areas in which they can make the biggest difference. Eliminating simple manual processes […]

Money20/20, the world’s largest conference geared towards the financial services industry, continues to generate big announcements from heavy hitters. Just yesterday, Bank of America’s Head of Digital Banking, Michelle Moore, introduced us to Erica (a play off the company’s name), a digital assistant that is driven by artificial intelligence, predictive analytics, and cognitive messaging. The […]

Several months ago, I mentioned how Bank of America Chairman and CEO Brian Moynihan believes that the need to be omni-channel is one of the keys to success for a bank that operates today. He said, “Despite people saying ‘I never go into a branch,’ they all do.” While there’s a lot of talk about […]

Many robo-advisors are thriving with growing customer bases. Not only are they flourishing, they’re partnering with – and in some cases being acquired by – traditional institutions that offer wealth management services. Take UBS, for example. The company’s wealth management division recently formed a strategic alliance with SigFig, a robo-advisor that will help develop solutions […]

A new quarterly Cybersecurity Market Report was published by Cybersecurity Ventures, projecting $1 trillion will be spent on cybersecurity between 2017 and 2021. According to Steve Morgan, founder and editor-in-chief of Cybersecurity Ventures, the increase in cybercrime, such as ransomware and malware, and the large number of digital devices being rapidly deployed by organizations and […]

Dennis K. Berman, financial editor of The Wall Street Journal, asked one of the simplest, yet greatest questions anyone could ask an executive at a major financial institution. During WSJ’s CFO Network conference, he asked Bank of America Chairman and CEO Brian Moynihan the following: “If you were building a bank today from scratch, what […]

There are many ways to bank. You can call your financial institution on the phone, go to the nearest brick-and-mortar branch, or hop online. While these are the most traditional ways of banking, there’s another option that’s quickly growing in popularity: mobile apps. As we mention in one of our guides, mobile banking raked in […]

If there is one trend making more headlines than cybersecurity, it is digital. In a world in which people are now performing more searches on their mobile phones than on their computers, it is no surprise that financial institutions with legacy business models and strategies are flocking to adopt new technology that meets the expectations […]

Bank of America’s Q1 2016 earnings call had a bunch of fascinating information about where the company, and therefore financial services industry, is heading. Let’s start with the company’s financial investments in technology. Brian Moynihan, the CEO, said they continue to invest $3 billion annually on technology initiatives, with a deep focus in those that […]

  According to research, approximately 31.8 million consumers in the US experienced credit card fraud in 2014. That’s triple the number in 2013! And the number doesn’t appear to be going down any time soon. On a positive note, credit card issuers are stepping up their game by introducing security methods, such as Europay, MasterCard […]

  Dislike being asked for your name, account number, and password every time you call the bank? Well, times are a-changin’. Banks are turning to mobile technology for help more than ever before. Bank of America is leveraging thumbprint verification technology that enables customers to automatically be identified, as well as carry out their banking […]