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Consumers prefer cashback rewards: Bank of America

Payments Dive

Consumers base credit card choices mainly on incentives offered, with a preference for cash back over points, a Bank of America survey found

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Bank of America gained 418 technology patents in 2019

Bank Innovation

Bank of America obtained more patents last year than any other year in the history of the company. Artificial Intelligence Automation Blockchain Carousel Daily Post 2 Innovation Strategy Payments Product Design Retail Banking Bank of America patents

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Adyen targets North America for growth

Payments Dive

Upstart Dutch payments processor Adyen is increasing its competition against FIS, Fiserv and Stripe on their home turf in the U.S.

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America’s Banks Celebrate America’s Vets

ABA Community Banking

In honor of our veterans, the ABA Banking Journal is sharing several stories from America's Banks of how banks serve and employ those who have served. The post America’s Banks Celebrate America’s Vets appeared first on ABA Banking Journal.

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Connect, Care, Convert: Secrets to Establishing Trust with Niche Markets and Turning Them Into Clients

Speaker: Lynnette Khalfani-Cox, The Money Coach®

Lynnette Khalfani-Cox, The Money Coach, is here to give you insights into the consumer mindset along with proven strategies for nurturing trust and client-building in underserved markets.

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VizyPay carves out a niche catering to rural America

Payments Dive

Austin Mac Nab, the CEO and cofounder of Waukee, Iowa-based payments processing firm VizyPay, said the company aims to disrupt the payments landscape by catering to small town businesses

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Bank of America cards go green

Payments Dive

The bank said all of its plastic credit and debit cards will be made from at least 80% recycled material starting next year. The move is expected to reduce its use of non-recycled plastics by some 235 tons

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Bank of America Redesigns App for iPad

Bank Innovation

Bank of America has redesigned its mobile app for the iPad. Exclusive Innovations Mobile Online Open Fintech Payments Premium Apple Bank of America Bank of America Merrill Lynch Erica iPad JPMorgan Chase ZelleThe new tablet design now mirrors the look and functionality of the BofA iPhone mobile banking app.

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Bank of America customers sent $27 billion through Zelle in Q1  

Bank Innovation

Bank of America customers are shifting toward digital tools. Paul Donofrio, Bank of America’s chief financial officer, said in a statement that despite the […].

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Latin America: An ecommerce economy on the rise

Payments Dive

Latin America presents a growing regional economy, however the payments and ecommerce industries present unique challenges

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Bank of America continues talent, tech investments

BankInovation

Bank of America continued to invest in technology and people during its fourth quarter amid global economic uncertainty. Retail Banking bank earnings Bank of America digital banking Premium

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The State of FinTech in Latin America

Chris Skinner

I’m off to Chile next week and thought, in preparation, I’d look at the state of FinTech in Latin America. Equally, I meet a lot of the … The post The State of FinTech in Latin America appeared first on Chris Skinner's blog. So far, I’ve spent fair time in Colombia, Brazil and Argentina, and see these as the three major centres of activity along with Mexico.

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Bank Of America Launches Business Treasury APIs

PYMNTS

Bank of America is rolling out three new application programming interfaces (APIs) as it supports the growing demand for up-to-the-moment data and processing in business treasury. With CashPro APIs, we’re helping our clients bring banking information and daily operations even closer together,” said Stephanie Wolf, head of Global Financial Institutions, Governments and Business Banking Sales in Global Transaction Services (GTS) at Bank of America, in the announcement.

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Bank of America: Spending Up Over 2019 Despite Virus Acceleration

PYMNTS

Bank of America customers are spending more across all accounts than they did last year, but more stimulus is needed to support small businesses and people who are unemployed, according to CEO Brian Moynihan.

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Latin America Entices B2B FinTech Investors

PYMNTS

It was a big week for B2B FinTech startups in Latin America. The new funding, the company noted, will enable the firm to expand throughout Latin America as it steps in to support the region’s SMBs amid the pandemic.

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Bank Of America Analyst Sinks Square Rating

PYMNTS

Bank of America has lowered its rating of Square Inc. SMBs Bank of America News SMB Square Inc. by two notches Monday (May 18), downgrading the stock to “underperform” from “buy” amid fears that shops, restaurants, and salons will struggle once COVID-19 funds are spent.

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MercadoLibre: The ‘Amazon Of Latin America’ Spreads Its Wings

PYMNTS

In Latin America, such a company exists in the form of MercadoLibre , a triple-threat regional financial powerhouse based in Argentina. It now operates in 18 countries in Latin America. ” Retail ecommerce Featured News FinTech international LatAm Latin America MercadoLibre News

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Bank of America Lays Foundation for Merchant Payments-Focused Lab

Bank Innovation

EXCLUSIVE – After its recent partnership with digital product Innovation Company Stuzo, Bank of America’s merchant services business is laying the foundation for an innovation lab. “It It [the partnership] helps us have a conversation with our merchants about their overarching goals,” Michael Roberts, chief marketing and digital strategy officer of Bank of America Merchant Services […].

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Zelle Use Surges at Bank of America

Bank Innovation

EXCLUSIVE – Bank of America had five million transactions via the digital payments service Zelle in October alone, an amount 35% higher than the average 3.7 Exclusive Mobile Online Open Fintech Payments Retail Bank of America P2P P2P payments PayPal Square Cash Venmo Zellemillion transactions per month the bank reported in September 2017. Yesterday evening, the bank announced that it processed a total of $1.5 billion dollars through Zelle in the month of […].

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Bank Of America Sees Personalized Video As Key To Rewards-Program Loyalty

PYMNTS

When Bank of America Rewards Executive John Sellers glanced at his in-house numbers over the last year, the evidence was plain to see. What Bank of America has seen over the few years of integrating video into its digital customer journey is that it’s increasingly able to deliver on all three.

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Berkshire Hathaway Buys 11.3 Pct Of Bank Of America Shares

PYMNTS

Berkshire Hathaway , the Warren Buffett-helmed conglomerate that owns Geico , upped its stake in Bank of America (BoA) by over $800 million, in what the Financial Times (FT) reported is a vote of confidence in the lagging U.S.

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Bank of America tech chief says cyberattacks have surged ‘dramatically’

Payments Source

Bank of America Cyber security Coronavirus

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Bank of America Sees “Overwhelming” Growth in Zelle Numbers

Bank Innovation

EXCLUSIVE — It’s another great quarter for Bank of America in terms of number of users of its P2P payment app Zelle. Exclusive Mobile Payments Bank of America Early Warning P2P payments Venmo ZelleThe bank just released numbers for the Zelle app in Q4’17 that shows it processed more than 23 million transactions amounting to almost $7 billion. That’s a 91% increase from the prior year […].

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Bank Of America Expands SWIFT gpi, Intros CashPro Cross-Border Payment Tracker

PYMNTS

Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. Customers can make payments via Bank of America’s SWIFT gpi solution.

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Latin America’s Dark, Crypto-Driven, Cybercrime Underbelly

PYMNTS

To get a sense of the new frontiers in cybercrime, and how cryptocurrency helps fraudsters cover their tracks or finance their schemes … look, perhaps, to Latin America. Security & Fraud cryptocurrency Cybercrime fraud Latin America News

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Bank of America Merrill Lynch’s API Gateway Seeks to Connect EMEA Clients with Fintechs

Bank Innovation

EXCLUSIVE- Echoing the mandate of PSD2, Bank of America Merrill Lynch today unveiled an API gateway that seeks to connect its commercial clients to fintechs and other third-party vendors. Bank of America Merrill Lynch […]. Commerce Compliance Corporate Exclusive Open Fintech Payments APIs open banking Bank of America fintech Merrill Lynch Open API

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Bank of America Back on Windows

Bank Innovation

After a yearlong absence, Bank of America’s mobile app is now available on Windows mobile devices. Innovations Mobile Online app Bank of America Microsoft Windows Windows 10BofA announced last year that starting “early” March 2015 it will no longer support its mobile app on Windows 10 Mobile, Windows Phone 8.1, and Windows Phone 8 mobile devices, suggesting customers access their accounts online. The app Read More.

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Mobile users drive deposit growth at Bank of America

Bank Innovation

For Bank of America, mobile and digital channels are sustaining its retail business. Carousel Customer Experience Retail Banking Wealth Management Bank of AmericaIn a third-quarter earnings call Wednesday, CEO Brian Moynihan stressed the importance of digital banking offerings that are complemented by human support. Customers continue to transact and interact with us in person, as well as through the digital channel,” he said. “We We […].

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Bank of America Reports Strong Mobile Growth, Especially Deposits

Bank Innovation

As previously reported on Bank Innovation, mobile banking is the top area of innovation banks in which are spending money—and it appears to be working, with Chase and Wells Fargo both reporting accelerated growth in mobile users last week, and with Bank of America also reporting strong growth today on the Read More. Innovations Mobile Online Bank of America Chase Mobile banking online banking Wells Fargo

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Bank of America invests $800M in tech in Q2

BankInovation

Bank of America’s efforts to boost its digital tools are paying off, and the $3.1 Business Banking Bank of America chatbot Erica Premium technology budgets Zelletrillion bank plans to continue its technology investments amid increased customer adoption of the bank’s digital tools.

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America: a nation living in the 20th Century

Chris Skinner

These days, in … The post America: a nation living in the 20th Century appeared first on Chris Skinner's blog. When did you last write a check (cheque)? When did you last receive one? Although a valid payment mechanism in some countries, it has been phased out in many. Finland stopped using checks in 1993, Poland in 2006 and the Netherlands from the start of next year.

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How Bank of America’s Virtual Assistant Erica Works [VIDEO]

Bank Innovation

Bank of America expects to be finished rolling out its AI-driven virtual assistant Erica by mid-summer. Exclusive Innovations Open Fintech Operations Payments PFM Premium Bank of America Erica virtual assistantThe bank first launched Erica in March and will continue rolling out Erica through June, according to an email sent to Bank Innovation. Here is a map of the states where Erica is live. See how Erica works in […].

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Bank of America to Launch Erica This Month

Bank Innovation

EXCLUSIVE – Bank of America is all set to launch its AI powered bot Erica this month, Michelle Moore, head of digital banking at BofA told Bank Innovation. Exclusive Innovations Mobile Online Operations Payments artificial intelligence Bank of America chat bot Erica machine learningOur focus with innovation has been on, how can we make the lives of our customers easier?” Moore said. With Erica, customers can use their voice or.Read More.

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Bank of America, Chase the Latest Banks to Buy into Blockchain

Bank Innovation

So much has happened with blockchain over the past couple of weeks—so very much—but let’s talk about the banks: Firstly, Bank of America is the latest to join the ranks of financial institutions experimenting with blockchain. Bank of America Merrill Lynch recently announced at Sibos that it was collaborating with Read More. Corporate Online Technology Virtual Currency Bank of America BlockChain Ethereum JP Morgan Chase Microsoft Microsoft Azure Ripple synechron

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Bank of America to upgrade client communication in digital app

BankInovation

Bank of America is looking to upgrade its client communications after auto loans are approved as the bank continues to lean on its digital capabilities and more consumers apply for loans through online channels. Retail Banking Bank of America chatbot Erica Premium

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