Bank Of America's Erica Exceeds 1.5B Client Interactions, To Exceed 2B Within Months

Bank Of America Corporation's BAC virtual financial assistant Erica has surpassed 1.5 billion interactions with the financial institution's clients since launching in June 2018.

BAC said over 37 million clients have engaged Erica to help manage their financial needs. 

So far in 2023, clients have engaged with Erica more than 333 million times, up 35% year-over-year.

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"It took four years to reach the first billion interactions, but client engagement with Erica is accelerating, and it will easily exceed 2 billion within a few months," said David Tyrie, Chief Digital Officer and Chief Marketing Officer at Bank of America. 

Clients are currently engaging with Erica 56 million times per month.

Bank Of America added that personalized and proactive insights now account for more than 60% of engagement, with clients most often using Erica to monitor and manage their subscriptions, such as food services and gym memberships, among other things.

Price Action: BAC shares are trading higher by 0.87% to $29.61 on the last check Thursday.