Digital Interactions by BofA Clients Surge to Over 26 Billion, up 12% Year-Over-Year

Core Insights - Bank of America reported a 12% increase in digital interactions, reaching a record 26 billion interactions in the past year, driven by innovative digital capabilities [1][5] - The AI-driven virtual assistant, Erica, has been utilized by approximately 20 million clients, with interactions surpassing 2.5 billion since its launch [1][6] Digital Engagement - Proactive digital alerts have seen a 7% year-over-year increase, with 37.6 million clients opting in, resulting in nearly 12 billion alerts sent in 2024, an 11% increase [5] - Client logins reached 14.3 billion, including a record 3.9 billion in Q4, marking a 16% year-over-year increase [5] - Erica interactions totaled 676 million in the last year, with a significant increase in usage among Merrill clients, up 13% year-over-year [5][6] Payment Solutions - A record 38 million clients moved money digitally through approximately 3 billion transactions, totaling $2.3 trillion in 2024 [6] - Zelle usage reached 23.7 million clients, facilitating 1.6 billion transactions valued at $470 billion, reflecting a 25% increase in users and a 26% increase in transaction value year-over-year [6] - Corporate clients approved over $1 trillion in payments using the CashPro App, representing a more than 25% year-over-year increase [6] Industry Recognition - Bank of America received nearly 250 accolades in 2024 for its digital leadership, including being named Best Mobile Banking App by Forbes [4]