Tagged: bank of america

October 26, 2024 @ 10:58 am By Omar Faridi  |  

Bank of America (NYSE: BAC) claims that it remains dedicated to the use of innovative tech to address the needs of its clients and employees. This commitment to innovation has led to a 94% increase in artificial intelligence (AI) and machine learning (ML) “granted patents… Read More

October 14, 2024 @ 11:44 am By Omar Faridi  |  

A Bank of America (NYSE: BAC) study reveals that the vast majority or almost 80% of U.S. based business owners are now anticipating revenue growth in the coming year. Bank of America noted in an extensive update, covering all key demographics in the United States,… Read More

October 6, 2024 @ 2:38 pm By Omar Faridi  |  

Bank of America (NYSE: BAC), a global enabler of commercial cards, has recently announced that it expanded its Virtual Payables capabilities in EMEA with the launch of Virtual Payables Direct. The B2B payment solution provides buyers with the usual working capital advantages of a card transaction… Read More

July 16, 2024 @ 6:05 pm By Omar Faridi  |  

When it comes to finding, analyzing and acting on their company’s financial information, corporate finance departments, treasurers and chief financial officers (CFOs) expect the same ease and convenience they enjoy while managing their personal finances. That is reportedly why Bank of America (NYSE: BAC) is… Read More

July 11, 2024 @ 8:17 am By Omar Faridi  |  

46% of Gen Zers (ages 18-27) rely on financial assistance from parents and family, according to new research from Bank of America’s (NYSE: BAC) Better Money Habits financial education team. In addition, 52% of those surveyed said “they don’t make enough money to live the… Read More

May 23, 2024 @ 1:22 pm By Omar Faridi  |  

Today, 47% of American workers feel financially well, up from 42% at this time last year. This is according to Bank of America‘s (NYSE: BAC) 14th annual Workplace Benefits Report, “The Resurging Workforce.” Conducted in partnership with Bank of America Institute, the report also “found… Read More

May 16, 2024 @ 4:52 pm By Omar Faridi  |  

Many prospective homebuyers fear the long-term consequences of renting, including 70% who feel they’re not making a long-term investment in their future, and 72% who worry that rent increases could affect their current and long-term finances, according to a Bank of America (NYSE: BAC) Homebuyer… Read More

May 4, 2024 @ 9:33 am By Omar Faridi  |  

A majority of small and mid-sized business owners expect their revenues to increase this year, and their worries over a recession have declined substantially, according to the 2024 Bank of America Business Owner Report, conducted in partnership with Bank of America Institute (NYSE: BAC). While… Read More

January 15, 2024 @ 4:10 pm By Omar Faridi  |  

Bank of America (NYSE: BAC) announced the launch of CashPro Insights, a digital tool that analyzes information flowing through the CashPro platform. Through data-driven intelligence, clients are presented “with insights that empower them to make more informed treasury decisions and drive cost savings and efficiencies…. Read More

December 7, 2023 @ 12:22 pm By Omar Faridi  |  

Prospective homebuyers’ patience may be waning, with fewer willing to wait until home prices or interest rates come down to purchase a home, according to new data from the Bank of America (NYSE: BAC) Homebuyer Insights Report. Today, 62% are willing to “wait for prices… Read More

November 29, 2023 @ 8:07 am By Omar Faridi  |  

Lower inflation levels around the globe should allow central banks to slash rates, according to a recent repot which also noted that US equities could potentially reach a record level of 5000 on the S&P by year-end. Few have experienced today’s macro uncertainty in their… Read More

November 16, 2023 @ 12:17 pm By Omar Faridi  |  

Bank of America (NYSE: BAC) is introducing new digital capabilities to support consumers in their car shopping and financing journey. Bank of America clients can now “get prequalified for auto financing to learn how much they may be able to borrow and estimate their terms,… Read More

November 11, 2023 @ 3:22 pm By Omar Faridi  |  

Bank of America (NYSE: BAC) is seeding a second round of financing for Veteran Loan Fund, doubling a two-year-old commitment that has already funded more than 500 small businesses built by former military personnel that “have created or retained more than 3,000 jobs across 37… Read More

November 7, 2023 @ 1:34 pm By Omar Faridi  |  

Nearly four in five wealthy families have had unplanned discussions about wealth with 26% later regretting it, according to a new study published by the Merrill Center for Family Wealth, a part of Merrill Private Wealth Management. The research found 33% of families “increased family… Read More

October 17, 2023 @ 9:30 pm By Omar Faridi  |  

Bank of America Institute (NYSE: BAC), the internal think tank that uses Bank of America’s proprietary data from their 68 million consumer accounts to glean insights into the US economy, has released a report. The update looks into how consumers are faring given the current conditions…. Read More

October 5, 2023 @ 11:16 am By JD Alois  |  

  Chase and Bank of America are the big losers when it comes to providing a savings rate for their account holders. Currently both Chase and B of A offer a interest rate on their savings account of a measly 0.01% (APY). What do you… Read More

September 24, 2023 @ 6:01 am By Omar Faridi  |  

As part of a multi-year effort to transform trade finance, Bank of America (NYSE: BAC) is launching CashPro Supply Chain Solutions, a platform that will offer participants in a supply chain the benefits of digitization with improved process efficiency and working capital optimization. CashPro is… Read More

August 30, 2023 @ 2:52 pm By Omar Faridi  |  

Bank of America (NYSE: BAC) is announcing the launch of its alias solution, Global Digital Disbursements to its commercial clients holding deposit accounts at the bank’s branch in Canada. Global Digital Disbursements facilitates “the processing of multiple B2C payments and C2B collections where the identifier… Read More

August 10, 2023 @ 11:55 am By Omar Faridi  |  

Bank of America (NYSE: BAC) released its Q2 2023 Participant Pulse (PDF), which found average 401(k) balances increased by $7,250 (9.6%) since the end of 2022. The report also found that “a growing number of 401(k) participants are initiating withdrawals from their plans.” The number… Read More

July 30, 2023 @ 11:49 am By Omar Faridi  |  

Despite economic challenges, 75% of mid-sized business owners expect their revenue to increase and 71% are planning “to hire over the next 12 months,” according to the inaugural Bank of America (NYSE: BAC) Mid-Sized Business Owner Report (PDF). The study is based “on a survey… Read More