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Adopting Erica: BofA touts 1M users of its mobile virtual assistant

June 20, 2018

Bank of America has announced that Erica, an AI-driven virtual assistant for mobile banking customers, has surpassed 1 million users within just two months of the full rollout.

Erica combines artificial intelligence, predictive analytics and natural language, and can interact with a customer's mobile device however they choose — via text, talk or tapping options onto the screen of the device.

According to a press release, the most popular uses for Erica include searching for transactions; viewing balance information and bills; and getting their credit scores and account numbers.

"Our clients are increasingly asking for mobile services that make their lives easier, and Erica is becoming a growing choice for its convenience and personal solutions," Michelle Moore, head of digital banking at BofA, said in the release. "As we continue to advance our work on AI-driven developments, it is important that we listen to our users today and further enhance Erica to align to client feedback to better meet and anticipate needs."

The bank has also announced the addition of new features to its mobile banking app, including:

• Enhanced shopping – allows customers to more easily explore BofA products and services after downloading the mobile app;
• Mobile onboarding – guides customers through enablement of fingerprint or FaceID, helps them enroll in alerts and e-statements, and offers details about services such as mobile check deposit, BankAmeriDeals and Zelle.
• New chat experience – directly connects consumers to a specialist who can help them apply for a checking or saving account application within the mobile app.
• New digital wallet functionality – lets clients immediately add an instant-approval credit card to their digital wallet.
• Mobile enrollment in Business Advantage Relationship Rewards – allows potential users to research, compare benefits, and enroll; and immediately recognizes and determines eligibility and rewards.