Bank of America - News, Articles & Research

Company announcement/devops

BofA patents increase nearly 70% in five years

Bank of America today announced a record year for its patent portfolio, which has grown to nearly 6,600 granted patents and pending patent applications – a year-over-year increase of 13%, and an increase of nearly 70% since 2019.

07 March 2024

News/security

Bank of America customers hit by data hack at Infosys McCamish Systems

Bank of America is warning customers of a data breach following a security breakdown at Infosys McCamish Systems, a provider of services for deferred compensation plans at the bank.

13 February 2024

Company announcement/payments

BofA launches CashPro Insights

Bank of America has announced the launch of CashPro Insights, a digital tool that analyzes information flowing through the CashPro platform.

10 January 2024

Company announcement/payments

BofA rolls out new auto shopping tools

Bank of America is introducing new digital capabilities to support consumers in their car shopping and financing journey.

16 November 2023

Company announcement/regulation

Bank of America hit with multiple fines over banking malpractice

Today, the Consumer Financial Protection Bureau (CFPB) ordered Bank of America to pay more than $100 million to customers for systematically double-dipping on fees imposed on customers with insufficient funds in their account, withholding reward bonuses explicitly promised to credit card customers, and misappropriating sensitive personal information to open accounts without customer knowledge or authorization.

11 July 2023

News/markets

Bank of America leads $35 million round in OpenFin

Bank of America has led a $35 million Series D investment in capital markets operating system provider OpenFin, with significant participation from existing investors Pivot Investment Partners and ING Ventures

24 May 2023

News/inclusion

BofA launches fintech accelerator

Bank of America is launching a fintech accelerator that aims to attract entrepreneurs from underrepresented communities.

18 May 2023

Finextra TV/retail

Enhancing growth in merchant services

Speaking at Merchant Payment Ecosystem 2023, Kevin Baker, Head of Merchant Services EMEA, Bank of America, and Chris Jameson, Head of Product Management EMEA, Global Transaction Services, Bank of America, discuss how to improve merchant services for both customers and clients by leveraging data, APIs, and open banking.

14 April 2023

News/retail

BofA financial planning tool proves a hit

More than 10 million customers have used Bank of America's financial planning tool, Life Plan, since its launch two and a half years ago.

31 March 2023

Company announcement/retail

BofA reports record year for patents granted

Bank of America announced a record-breaking year for patents received in 2022 with 608 patents granted, a 19% increase year over year.

09 February 2023

News/payments

Big US banks prep mobile wallet to take on Apple

America's biggest banks are teaming up to take on Apple and PayPal with a digital wallet linked to customers' debit and credit cards, according to the Wall Street Journal.

23 January 2023

News/retail

BofA bot Erica hits 1bn customer interactions

Bank of America's AI-powered chatbot, Erica, has passed the one billion client interactions mark, helping nearly 32 million customers since launching in 2018.

14 October 2022