Payment Methods

BOA Adds More Customization To Its Mobile App

Bank of America (BOA) announced Wednesday (Sept. 6) it had launched a series of updates to its mobile app to provide more customization to its customers. In a press release, the company also said it will continue to invest in technology to improve the financial lives of its customers.  

“With 23 million mobile customers and growing, improving the customer experience is always a top priority,” said Michelle Moore, head of digital banking at Bank of America, in the press release. “By taking a customer-first approach to innovation, we continuously raise the bar to deliver new, personalized experiences that make it easier for customers to achieve their financial goals.”

Among the features included in the upgrade is a mobile dashboard accessible from the home screen which allows customers to customize tiles to include the features they use the most often. Some of those include Account Balances, Card Rewards, Spending and Budgeting Tool, FICO Scores, Mobile Alerts, BankAmeriDeals and Zelle person-to-person (P2P) payments, the bank said in the release. By placing important tiles on one screen, BOA believes it will give customers a quick snapshot of their finances in one place.

In another new tool included in the update. Bank of America is partnering with Better Money Habits to roll out a goal setting tool later in September. With the Better Money Habits goal setting tool, customers will be able to create personalized savings goals with names, pictures and target amounts so they can watch their progress and prioritize funds accordingly. 

The app also includes the ability for customers to start the ATM withdrawal process on a mobile app. With the service, customers log into the app, select the amount they want to withdraw and use their phone or debit card at an ATM to enter a PIN and obtain the cash. The app process eliminates four steps at the ATM, Bank of America said. The bank is also improving its online bill pay feature, a streamlining that will take place during the next few months.



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.