Creating teachable moments in virtual reality can lead to immersive, focused, and memorable training programs for bank employees, which are ultimately more effective than the status quo of boring instructionals. Bank of America has ditched written guidelines and online videos for some of its most crucial employee trainings. Instead, the bank uses virtual reality technology […]
Tag: Bank of America
There’s a growing trend within banks of appointing execs to specifically focus on internal tech experiences, as they realize that keeping top developers happy and efficient is key to building better products. Bank of America’s long-time chief information security officer, Craig Froelich, just got a new job: He’s now the chief information officer of architecture, […]
Merrill is betting that helping people connect with advisors based on their preferences will help it hook younger, more digital-centric customers – and build its brand. Bank of America’s Merrill Lynch is rethinking relationship building for its financial advisors. While clients historically find their advisors through referrals, the wire house has launched a matching algorithm […]
Customer obsession needs to come from the top. Digital strategy execs should marry data with a person-first mindset, rigorously monitoring feedback to keep a constant pulse on how clients feel, according to BofA’s David Tyrie. Bank of America’s chief digital and marketing officer, David Tyrie, pairs his morning coffee with customer feedback. The exec uses BofA’s […]
Sustainability continues to be a hot topic for regulators and corporate boards alike. Financial firms have a vested interest in supporting partners focused on building robust, transparent infrastructure for environmental commodities, so they can best support their clients’ ESG goals. Bank of America and Goldman Sachs joined a $125 million investment into Xpansiv, which provides […]
Dealing with issues in trade settlement has historically been a fragmented process, where participants must manually resolve errors over email chains. The biggest players are investing in AccessFintech’s centralized (and secure) data management network because its collaborative workflows reduce the time and costs for all involved. By promising to streamline transaction processing, AccessFintech is winning […]
Financial institutions are nearly unanimous on the appeal of a passwordless future, but there are many different approaches. Bank of America’s latest launch showcases a simple, creative way to bring smartphone-based biometrics to the web. Bank of America wants to banish manually-entered credentials from its website for business customers, and it’s combining two popular technologies […]
Instead of forming a designated innovation lab like many of its peers, Bank of America focuses on “citizen innovation,” which it credits with driving its patent supremacy: It says it has more US patents than any other financial services firm and has consistently broken its own quarterly records. In total, Bank of America has 5,556 […]
Low-code platforms like Genesis (an Insight Partners’ portfolio company) provide ready-made, reusable code components that can simplify and speed up the development process. A consortium of global banks recently launched Octaura, which has built an electronic trading platform with baked-in analytics that will replace the traditionally phone-call-driven process of trading syndicated loans and collateralized loan […]