Bank of America Announces New Mobile Banking Capabilities

Bank of America recently announced it is introducing a new feature that will allow clients to move notably easier between the banking group, Merrill Lynch, Merrill Edge, and U.S. Trust mobile apps without having to re-authenticate. Bank of America reported the new feature is part of a broader approach designed to make it easier for clients to manage their banking and investing activities in one place.

According to Andy Sieg, Head of Merrill Lynch Wealth Management, the latest update will allow Merrill Lynch’s wealth management clients who use mobile apps instant, one-touch access to both banking and investment services.

“It provides a state-of-the-art mobile platform that allows clients to view their banking and financial assets and activities in one place and to manage the full range of day-to-day transactions with ease.”

Michelle Moore, Head of Digital Banking at Bank of America, also commented:

“We’re pleased to offer our nearly 26 million mobile users a new suite of innovative features. As we expand our mobile banking app to give clients the digital solutions they need, we remain committed to investing in cutting-edge technology that will help them better pursue their financial goals on their terms.”

The new app-linking feature will be available at Bank of America, Merrill Lynch, and Merrill Edge today and at U.S. Trust in November. A few other new features on the Bank of America mobile app include:

  • Personalized cash flow: Bank of America clients, as well as Merrill Lynch or Merrill Edge clients with Bank of America relationships, may now view a personalized cash flow analysis along with income and spending insights across their banking and brokerage accounts.
  • New biometric authentication features: Mobile clients are now able to identify and authenticate themselves through other channels, including interactive voice response and call center platforms, with their mobile device.
  • Shopping cart experience: Clients can now easily and conveniently shop for all of the services Bank of America has to offer from the mobile banking app.
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