BofA’s Erica, the virtual financial assistant achieves a milestone with over 2 billion transactions.

BofA’s Erica, the virtual financial assistant achieves a milestone with over 2 billion transactions.

Since its inception in 2018, more than 42 million customers have utilized Bank of America’s, virtual financial assistant over 2 billion times, the lender announced on Monday. Erica, the virtual financial assistant, supports customers with bill payment, money transfers, and other mobile banking tasks. 

Additionally, it can assist clients of the bank’s Merrill Lynch division in making transactions and monitoring the returns on their assets.

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Of the bank’s customers, 37 million have utilized the assistance as of July of last year.  Customers’ preference for online transactions over in-person visits to lenders is mostly based on how convenient mobile banking is.

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