Company Receives Accolades Throughout the
Industry and Around the World for Delivering Digital Experiences
that Drive Client Engagement
NEW
YORK and LONDON and
HONG KONG, July 29,
2024 /PRNewswire/ -- This year, Bank of America has
been recognized by many of the most influential industry groups and
global banking award organizations around the world for its digital
leadership. As the company continues to see record growth in
digital engagement among clients, it recently received accolades
from Euromoney, Global Finance, Celent, The Asian Banker, and
others for its commitment to innovation and delivering world-class
digital experiences.
"We're focused on making it easier and more convenient than ever
for our clients to manage their full financial lives through
industry-leading digital capabilities," said David Tyrie, Chief Digital Officer and Chief
Marketing Officer for Bank of America. "This recognition showcases
the expertise of our team and their commitment to delivering for
our clients."
One of the greatest measures of success is the degree to which
clients engage with digital solutions. Today, 58 million clients
leverage Bank of America's digital capabilities to help manage
their financial lives. Last year, these clients digitally connected
with their finances a record 23.4 billion times, an 11% increase
year-over-year.
"Our approach to technology focuses on delivering capabilities
that help our clients build better financial lives – enabled by a
culture that empowers our teammates to explore and develop
innovative solutions at scale for our clients around the world,"
added Chief Technology and Information Officer, Aditya Bhasin, who
heads Bank of America's Global Technology organization.
Bank of America received over 120 accolades last year for its
digital and innovation leadership. In 2024, the company continues
to be recognized globally with many of the industry's most
definitive honors, including:
Euromoney Awards for Excellence
- North America's Best
Digital Bank and Western
Europe's Best Digital Bank, recognizing the bank for its
digital capabilities and use of technology to benefit clients and
for efficiency.
- World's Best Bank for Trade Finance for providing
financial solutions to importers and exporters worldwide that
mitigate the payment and supply risk involved in international
trade, as well as being at the forefront of new technologies that
are streamlining trade finance processes and accelerating
innovation.
- North America's Best Bank
for Transaction Services, recognizing BofA's excellence in cash
management, payments and trade finance across North America through innovative technology
and best-in-class performance.
Global Finance
- Most Innovative Bank in North
America, based in part on its annual technology
investments and corporate culture of supporting client needs and
continuous improvements to the client experience.
- World's Best Bank for Transaction Banking, including top
honors in North America and
Latin America
- World's Best Bank for Collections, including top honors in
Latin America and Western Europe
- Western Europe's Best Bank
for Payments
Celent Model Bank Awards
- Customer-Centered Innovation Award for the Bank of
America unified mobile app experience as well the award for
Reimagining Trade and Supply Chain Finance for its Open
Account Automation solution for business clients. Open Account
Automation, the first module of CashPro Supply Chain Solutions,
addresses invoice approval and payment, one of the most common
processes in global trade, and speeds up the time to approve an
invoice from days or weeks to now a matter of minutes.
The Asian Banker: Transaction Finance Awards
- Best International Cash Management and Transaction Bank in
Asia Pacific for commitment to "true and tangible
innovation that supported the development of numerous digital
corporate banking solutions."
- Best Treasury Management Initiative for reducing FX
trade and settlement volumes by an average of over 85% and saving
40-man hours weekly.
- Best Cash Management Project in Asia Pacific for halving the number of
bank accounts and consolidating over 60% of cash in Asia for repatriation.
Treasury Management International (TMI) Awards for Innovation
& Excellence
- Best Mobile Technology Solution for Treasury,
recognizing CashPro as a "solution that gives treasurers the means
to do new kinds of business on the move with confidence, both now
and in the future." TMI also "highly commended" CashPro® for
Best Customer Service and for Solution
Innovation.
Coalition Greenwich Digital Transformation Benchmarking
Study
- BofA received top scores in the annual Coalition Greenwich
Digital Transformation Benchmarking Study in recognition of ongoing
enhancement of its CashPro platform. The company received top
scores for leadership in Digital Channels for the second
consecutive year, as well as for payments and treasury management,
including merchant and card services and transaction foreign
exchange.
The Global Private Banker
- Best Private Bank for Digital
Innovation recognizing Bank of America Private Bank for
modernizing its service platform to facilitate a fully integrated
and personalized client experience.
Private Wealth Management Wealth Tech Awards
- Best Use of Technology recognizing Merrill and Bank
of America Private Bank for keeping clients at the center of the
company's technology strategy, from digital onboarding through an
AI-enabled insights program that identifies opportunities to deepen
relationships and better serve clients.
Bank of America
Bank of America is one of the world's
leading financial institutions, serving individual consumers, small
and middle-market businesses and large corporations with a full
range of banking, investing, asset management and other financial
and risk management products and services. The company provides
unmatched convenience in the United
States, serving approximately 69 million consumer and small
business clients with approximately 3,800 retail financial centers,
approximately 15,000 ATMs (automated teller machines) and
award-winning digital banking with approximately 58 million
verified digital users. Bank of America is a global leader in
wealth management, corporate and investment banking and trading
across a broad range of asset classes, serving corporations,
governments, institutions and individuals around the world. Bank of
America offers industry-leading support to approximately 4 million
small business households through a suite of innovative,
easy-to-use online products and services. The company serves
clients through operations across the
United States, its territories and more than 35 countries.
Bank of America Corporation stock is listed on the New York Stock
Exchange (NYSE: BAC).
Bank of America makes no warranty, representation or guarantee
regarding the suitability of CashPro, including its enhancements,
for any particular purpose, nor does Bank of America assume any
liability arising out of the use or application of CashPro, or
related products and services.
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America
newsroom and register for news email alerts.
Reporters May
Contact:
North America, Andy Aldridge
Phone: 1.980.387.0514
andrew.aldridge@bofa.com
EMEA, Megan Pearson
Phone: +44.20.7995.6977
megan.n.pearson@bofa.com
APAC, Tiffany Chen
Phone: +852.3508.3753
tiffany.chen@bofa.com
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SOURCE Bank of America Corporation