Bank of America today introduced that it’s for introducing a brand new function with a view to permitting customers to move seamlessly between the Bank of America, Merrill Lynch, Merrill Edge, and U.S. Trust mobile apps without having to re-authenticate.
The new feature is a part of a broader approach designed to make it simpler for clients to control their banking and making investment activities in one region.
This enhancement is certainly one of a sequence of updates to the award-triumphing cellular banking app from Bank of America and investing apps provided with the aid of Merrill Lynch and Merrill Edge, which deliver progressive answers to clients based on their remarks. These improvements offer customers new, interactive approaches to apply mobile apps, helping them to the bank and invest on the move.
“We’re thrilled to offer our nearly 26 million cellular users a new suite of revolutionary capabilities,” said Michelle Moore, head of digital banking at Bank of America. “As we amplify our cellular banking app to present clients the digital solutions they need, we remain devoted to making an investment in the current era with a view to help them higher pursue their monetary dreams on their phrases.”
Industry research shows that many customers choose all-encompassing, complete-service wealth management; in fact, a majority of those with more than $1 million in belongings need their banking and funding services on hand in one location. Some 70 percent of millennials in this category share this choice.1
“This trendy update will allow our wealth control clients who use cellular apps on the spot, one-touch get entry to each banking and funding services,” stated Andy Sieg, head of Merrill Lynch Wealth Management. “It presents the latest cellular platform that lets in customers to view their banking and monetary property and sports in a single location and to control the entire range of everyday transactions without problems.”
“Our research keeps to underscore the developing importance of cellular technologies and economic making plans across generations,” stated Aron Levine, head of Merrill Edge. “This is specifically actual for these days’ millennials, as 3-quarters trust that each one financial choice will be made with the help of era of their lifetime, and about two in 3 are already turning to finance apps for steering.”2
The new app-linking characteristic could be available at Bank of America, Merrill Lynch, and Merrill Edge nowadays and at U.S. Trust in November.
Other new functions at the Bank of America cellular app consist of:
• Personalized cash glide: Bank of America customers, in addition to Merrill Lynch or Merrill Edge customers with Bank of America relationships, can now view a customized coins flow evaluation at the side of profits and spending insights across their banking and brokerage money owed.
• New biometric authentication features: Using the ultra-modern in biometric security technology, Bank of America’s cell customers at the moment are capable of perceiving and authenticate themselves through other channels, along with interactive voice reaction and get in touch with center structures, with their cellular device. Biometric competencies that customers use on a day by day foundation, consisting of fingerprint and Face ID, update conventional forms of authentication.
• Shopping cart revels in Clients can now effortlessly and without difficulty shop for all the offerings Bank of America has to offer from the cell banking app. They can also shop their progress and go back to it at a later point with the aid of saving products to their shopping cart.
• Zelle® improvements: As clients, an increasing number of the shift to cashless answers, Bank of America is making it easier to manipulate Zelle individual-to-person (P2P) transactions inside its cellular banking app. The newly delivered ZelleActivity Center gives clients a consolidated view of all their Zelle activity. Enhancements to the app help clients verify the identification of the pals or circle of relatives to whom they’re sending finances for the primary time. Bank of America lately introduced total Zelle despatched and acquired transactions for the 12 months exceeded $25 billion throughout greater than four million lively Bank of America customers.
• Digital Mortgage Experience™ replace: Bank of America is empowering its customers with a custom designed homebuying enjoy via allowing them to connect with their favored expert lending specialist within the Digital Mortgage Experience.
• More approaches to control indicators: Bank of America is providing its customers greater manage over how they pick to stay on top in their price range with proactive alerts. Clients can manage all e-mail, text and cell account activity notifications from their cell banking app; this functionality changed into formerly best to be had in online banking.
• Statements and files remodel: The statements and documents page has been up to date to offer clients faster get admission to their current statements across all money owed.
• My Rewards: Bank of America additionally currently introduced its My Rewards dashboard – an unmarried, convenient location available inside online and cellular banking that allows clients to control their Bank of America rewards across the bank’s rewards applications, which includes Preferred Rewards, credit score cards, and BankAmeriDeals.
Also coming soon to Bank of America’s mobile app is an improved cellular Bill Pay revel in, with a purpose to begin rolling out to customers later this month. One of the enterprise’s first, Bank of America’s cellular Bill Pay will offer additional functions that were previously available thru online banking, which include the capability to add and preserve automated bills, search records, and pay multiple bills at once – all from clients’ cellular banking app.