A high-tech, high-touch experience

Chicagoans can now video chat with a remote financial advisor to secure a small-business loan, open a banking account, apply for a mortgage or sketch out a retirement plan.

A teller-less Bank of America branch, called an Advanced Center, recently opened in Chicago, one of about 15 nationwide. These high-tech branches are a part of the bank’s effort to modernize its banking services for its more digitally-inclined consumers and clients.

The remote advisors marry the digital with the personal. The bank is building a network that creates a simple and seamless banking, lending and investing experience through these Advanced Centers, while still valuing one-on-one conversations with trusted banking specialists.

"This is not necessarily the banking center of the future; it's part of an overall strategy," says Sandy Pierce, Consumer Banking Regional Executive, Bank of America. "There is no one-size-bank-fits-all anymore, and we’re continuing to innovate on the financial center model to meet the evolving needs of our clients."

Over the next several years, additional client-focused enhancements will be added to nearly 1,000 financial centers across the country.

Client waiting areas will offer interactive demonstrations of available financial tools so clients can learn more about what Bank of America has to offer. Some financial center locations will also have conference rooms where specialists can remotely host educational seminars on retirement planning, saving for college or buying a first home.

Additionally, Bank of America has announced Erica, a voice- and chat-driven intelligent virtual financial assistant that will be integrated throughout the customer experience to help improve the financial lives of customers.

Knowing that customers are looking for more digital options, the bank is continuing to add new digital capabilities, such as a spending and budgeting tool and a simplified person-to-person payments experience with Zelle, and constantly evaluating many more potential technologies based on the changing needs and behaviors of the public. Today, the bank has more than 24 million mobile banking customers and nearly 35 million digital users.

10/4/18


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There is no one-size-bank-fits-all anymore, and we’re continuing to innovate on the financial center model to meet the evolving needs of our clients.

Sandy Pierce
Bank of America