Tagged: boa

Property Market Report: Fewer Prospective Homebuyers Willing to Wait for Improved Economic Conditions

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

Funding for US Small Businesses: Bank of America Provides Financing to Veteran Loan Fund

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

Moderating Wage Growth Is Driving Uptick in Gig Work, Especially in Younger Generations – Report

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

Trade Finance Solutions: Bank of America Introduces CashPro Supply Chain Services

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

Average 401(k) Balances Up Nearly 10% in 2023, Bank of America Claims

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

Majority of Mid-Sized Businesses Expect Revenue to Increase, Despite Economic Challenges: Report

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

Financial Inclusion: Bank of America Surpasses $500M in Equity Investments to Support Minority, Women Entrepreneurs

Bank of America (NYSE: BAC) announced that it has committed more than $500 million in equity investments “to minority- and women-led funds, more than doubling its initial $200 million commitment.” The bank has “committed equity to more than 150 funds, which to date have invested… Read More

Bank of America Commits $13M to Chicago-Area Nonprofits Working to Improve Economic Opportunity

Bank of America (NYSE: BAC) announced it has committed $13 million in funding to more than 100 Chicago-area nonprofit organizations working “to drive economic opportunity for individuals and families in underserved Chicagoland communities.” In 2022, Bank of America partnered with nonprofits that are “addressing key… Read More

Bank of America and UK Fintech Banked Ltd Expand Pay by Bank to Euro Currency Payments

Bank of America’s (NYSE: BAC) online payment solution, Pay by Bank, is now available for euro currency payments. Delivered in conjunction with Banked Ltd., this development follows the UK launch of Pay by Bank in February this year and “allows customers of e-commerce companies to… Read More

Bank of America Customers’ 1B Digital Logins in July Mark Highest Month Ever

Bank of America (NYSE: BAC) clients are increasingly relying on the company’s digital solutions to manage their finances. Clients logged into the company’s digital platforms “nearly 1 billion times in July, the highest month ever.” This follows “a record 2.8 billion digital logins in the… Read More

Fintech Platform iCapital Announces Investment from Bank of America

iCapital, the global fintech platform driving access and efficiency in alternative investing for the asset and wealth management industries, announced that Bank of America (NYSE: BAC) has made a strategic investment in the company, “deepening a partnership that began in 2018.” iCapital will use the… Read More

Bank of America Expands Virtual Account Management to Firms in the US

Bank of America‘s (NYSE: BAC) Virtual Account Management (VAM) solution is coming to companies operating in the US. The geographical expansion “follows last year’s addition of the Netherlands to the existing UK and Ireland capabilities.” Through VAM, companies can “open virtual accounts that act as sub-ledger… Read More

Bank of America to Transition to Recycled Plastic for Plastic Credit, Debit Cards in 2023

Bank of America (NYSE: BAC) recently confirmed that it will transition all plastic credit and debit card products to be “made from at least 80% recycled plastic starting in 2023.” The company claims to be “the first U.S. based bank to make this commitment across… Read More

Bank of America Exceeds Earnings Expectations, Shares in the Company Move Higher

Bank of America (NYSE: BAC) released its Q1 2022 financial report on Monday (April 18, 2022). The progress report from the bank exceeded industry analysts’ estimates, supported by the better-than-expected credit quality of the institution’s borrowers. Here are the key stats shared by Bank of… Read More

Fraudulent Activities are Reportedly being Ignored on Zelle by its Founders

Banking institutions appear to be ignoring the problem of fraudulent activities allegedly being carried out via Zelle, a new report reveals, with large financial service providers that founded the service not really caring or concerned about issues with the digital payments platform. Zelle has quickly… Read More

London Fintech Banked to Focus on US Expansion After Securing Fresh Capital from Bank of America, Others

Brad Goodall, CEO and Founder at Banked, notes that it’s a big day for the company – with the announcement of their Series A and their partnership with Bank of America. Goodall also mentioned that the entire team at Banked have worked really hard to… Read More

Bank of America Introduces Virtual Reality Training Program in Almost 4,300 Financial Centers

Bank of America (NYSE: BAC) is reportedly the first financial services company to introduce virtual reality (VR) training in almost 4,300 financial centers nationwide. As mentioned in a release, this training tech will allow around 50,000 workers to practice “a range of routine to complex… Read More

Bank of America Appoints Mary Hines Droesch as Head of Consumer and Small Business Products

Bank of America (BoA) (NYSE: BAC) reveals that it has appointed Mary Hines Droesch to serve as its Head of Consumer and Small Business Products. Droesch brings over two decades of industry and senior management experience and deep product knowledge to Bank of America. Recently,… Read More

Bank of America Establishes Cryptocurrency Research Division, Led by Alkesh Shah

Bank of America (BofA) had introduced its Cryptocurrency Research Team as part of its latest Wall Street push. Bank of America Corp. (NYSE: BAC) reports that it formed a new division that will focus on conducting research into the applications of cryptocurrencies. This notably marks… Read More

Fintech Unicorn Nubank’s Mexican Division Nu Mexico to Acquire $135M in Capital to Expand Operations in Latin America

The Mexico-based division of Fintech Unicorn Nubank, which is notably the largest standalone digital banking platform in the world, will be acquiring $135 million in capital in order to support its business operations in the Latin American (LatAm) region’s second-largest economy. As first reported by… Read More

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