Bank Of America's Erica Exceeds 1.5B Client Interactions, To Exceed 2B Within Months
Portfolio Pulse from Nabaparna Bhattacharya
Bank of America's virtual financial assistant, Erica, has surpassed 1.5 billion interactions with clients since its launch in June 2018. The bank expects Erica to exceed 2 billion interactions within a few months, with current engagement rates at 56 million times per month. Over 60% of engagement is for personalized and proactive insights, with clients using Erica to monitor and manage their subscriptions.
July 13, 2023 | 3:27 pm
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POSITIVE IMPACT
Bank of America's virtual assistant Erica has seen a significant increase in client interactions, which could potentially lead to increased client retention and satisfaction. This could have a positive impact on BAC's stock.
The increased usage of Erica indicates a high level of customer engagement and satisfaction, which could lead to increased customer retention and potentially attract new customers. This could positively impact BAC's revenues and subsequently its stock price.
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IMPORTANCE 70
RELEVANCE 100