Bank of America Business Profile

Global bank serving consumers and companies

About Bank of America

Bank of America Corporation is a Charlotte-based financial institution operating through Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets. It provides banking, investing, asset-management and financial-risk services across the United States, its territories and more than 35 countries. investor.bankofamerica.com

What they do

Bank of America offers consumer and small-business banking, wealth-management services through Merrill and Bank of America Private Bank, commercial and corporate banking, treasury and lending services, investment banking, trading, payments and related financial products. Its businesses are organized across eight lines of business within four principal franchises. investor.bankofamerica.com

Who they serve

The company serves individual consumers, small and middle-market businesses, large corporations, governments, institutional investors and high-net-worth clients. In the United States, it serves approximately 69 million consumer and small-business clients, while its global businesses work with corporations, institutions and investors across more than 35 countries. newsroom.bankofamerica.com

Recent signals

On August 20, 2025, Bank of America reported that Erica had surpassed 3 billion client interactions, served nearly 50 million users since launch and averaged more than 58 million interactions per month. newsroom.bankofamerica.com
Bank of America reported that Erica was embedded across Merrill, Benefits OnLine, CashPro and other enterprise areas, with CashPro Chat used by 65% of clients and handling more than 40% of client interactions. newsroom.bankofamerica.com
In April 2025, Bank of America said more than 90% of employees used Erica for Employees and that the tool had reduced IT service-desk calls by more than 50%. newsroom.bankofamerica.com
Bank of America reported more than 23 million annual interactions with ask MERRILL and ask PRIVATE BANK in 2024, supporting wealth-management employees with information and client-service workflows. newsroom.bankofamerica.com

Reasons to get in touch

Governance and oversight for AI in financial services, tied to Erica surpassing 3 billion client interactions and Bank of America’s stated emphasis on scalable, reusable AI capabilities. newsroom.bankofamerica.com
Enterprise deployment of AI assistants across separate operating environments, tied to Erica’s use in consumer banking, Merrill, Private Bank, CashPro and employee workflows. newsroom.bankofamerica.com
Operational measurement for internal AI tools, tied to Erica for Employees being used by more than 90% of employees and reducing IT service-desk calls by 50%. newsroom.bankofamerica.com
AI-enabled support for commercial and corporate clients, tied to CashPro Chat’s reported use by 65% of clients and its handling of more than 40% of client interactions. newsroom.bankofamerica.com

Questions worth asking them

How is Bank of America measuring the quality and risk of Erica’s responses as the assistant expands across consumer, wealth, commercial and employee workflows?
What controls determine when Erica or CashPro Chat can complete a task directly versus hand a client or employee to a specialist?
Which AI use cases outside Erica have produced the clearest operational benefit for Global Banking or Global Markets teams?

Andrew Aldridge

About Bank of America

What they do

Who they serve

Recent signals

Reasons to get in touch

Questions worth asking them

Related Prospects

Wayne R. Miller, MAI, AI-GRS, FRICS

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