Bank of America’s virtual financial assistant, Erica, has had more than 10 million users since it became available nationwide in June 2018, the company announced recently.
 
Erica, the artificial intelligence (AI)-driven service which soon is expected to reach 100 million client requests completed, will have several new insights within the bank’s award-winning mobile app that offer clients personalized, proactive guidance to help with their finances.
 
“The latest enhancements to Erica include a new Refund Confirmation Insight through which clients are proactively notified when a merchant refund is posted and available to use in their checking, savings or credit card accounts,” Bank of America said in a release.
 
Bank of America’s Preferred Rewards program members also will see additional benefits from Erica, including notifying members when they’re within $10,000 of the next rewards program tier and showing them how much more they could earn at the next tier. The Preferred Rewards program has 6 million members.
 
“Erica is ushering in a new era of personalized banking and providing our clients never-before-possible convenience," David Tyrie, head of advanced solutions and digital banking at Bank of America, said in the release. "Our high-tech capabilities together with our high-touch approach deliver a more intuitive and efficient banking experience for our clients across all channels.”
 
Bank of America also says Erica will have added capabilities introduced early next year, including New Card Merchant List Assistance and Duplicate Merchant Charges Insight.
 
“Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services,” the release states.

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