Fintech: Southeast News

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Posted August 19, 2021

 

Digital engagement continues to grow rapidly at Bank of America, with more clients making online and mobile primary channels for more of their banking and lending with Bank of America and investing with Merrill. Today 85% of deposit transactions are being made through the Bank of America app, ATMs and other automated channels – driven by nearly 48 million checks deposited digitally during the second quarter alone.

“We are delivering the best financial technology to help make our clients’ financial lives better,” said David Tyrie, head of digital at Bank of America. “To elevate each client’s digital journey across their entire relationship with us, we focus on their unique needs and aspirations so that we can deliver individualized digital experiences.”

As of the beginning of last month, more than 70% of Bank of America clients are actively using digital channels for more of their needs, including 72% of consumer and small business clients, 80% of wealth management clients across Merrill and Bank of America Private Bank, and 75% of global banking clients.


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