The metrics show that the total digital sessions, comprising both mobile and desktop, rose to almost 2.57 billion, a 9.4% boost from nearly 2.35 billion in Q2 2020. Customer appointments made via digital channels grew from 665,000 to 871,000.
BofA’s YoY interactions growth more than doubled for its Erica virtual financial assistant – it went from 37.2 million to 94.2 million, or by 153.2%.
Besides, total digital active users, or those who used digital channels in a 90-day period, were up just around 3.1% YoY, going from 39.3 million to 40.5 million. The digital household adoption rate, or those who logged in within 90 days, rose modestly YoY from 68% to 70%. By contrast, Erica’s overall user growth soared by 47.2% YoY, going from 14.4 million to 21.2 million.
BofA also disclosed that customers are not flocking back to branches to make deposits, as 85% of deposit transactions were handled digitally or via ATM, versus just 15% at a financial center.
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