Bank of America Trends & Statistics

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A majority of global banking executives don’t see a future for the branch-based model

Article
Jul 07, 2021

In just five years, the physical framework of banking will be “dead,” according to bank executives around the globe—supplanted by digital ecosystems and supported by emerging technologies.

BofA places first in US customer satisfaction for financial advice

Article
Jul 06, 2021

The banking giant topped a J.D. Power ranking of US customers’ satisfaction with retail banks’ financial advice—an offering with potential to keep branches open despite digital disruption.

Fifth Third to exploit professional niche with healthcare neobank Provide

Fifth Third to exploit professional niche with healthcare neobank Provide

Article
Jun 24, 2021

The planned acquisition of Provide—which caters to healthcare providers with loans and savings products—gives the US regional bank access to a large market and a professional niche.

Account Opening in the Next Normal

Account Opening in the Next Normal

Report
Jun 17, 2021

Digital account opening is on the rise after a pandemic slump.

BofA tops US mobile app customer satisfaction survey

Article
Jun 17, 2021

The banking giant narrowly got the top spot in J.D. Power’s annual U.S. Banking Mobile App Satisfaction Study—a designation it achieved as it has rolled out mobile security and alerts features.

2020 ended a decades-long trend for overdraft fees

2020 ended a decades-long trend for overdraft fees

Article
Jun 02, 2021

The pandemic paradoxically helped pad consumer’s bank accounts—and banks now face the reckoning that fees are unlikely to return to historic levels.

Square’s latest app update hints at checking and savings accounts for SMBs

Square’s latest app update hints at checking and savings accounts for SMBs

Article
May 26, 2021

Square's new SMB offerings could tee up deposit product launch, and its merchant network could help it emerge as a significant threat to the likes of JPMorgan and Bank of America.

The Banking Digital Trust Report 2021

The Banking Digital Trust Report 2021

Report
May 20, 2021

Digital trust—the confidence that bank customers have in their providers’ digital channels—is a precious commodity for banks. As competitive and cybersecurity threats abound, trust will be their advantage to lose.

Digital customer service at Bank of America surges in Q1

Article
Apr 16, 2021

Bank of America’s digital channels and technologies such as Erica saw a significant rise in customer usage in Q1 2021—and the bank could augment the heightened interaction by providing more access to human representatives.

Credit Cards in the ‘Next Normal’

Credit Cards in the ‘Next Normal’

Report
Mar 29, 2021

After the coronavirus pandemic forced issuers to adapt rewards, enhance forbearance, and build out digital tools to cope with a volume hit in 2020, they’re looking to reimagine their offerings in the future to add new customers and regain primary card status.

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The US Mobile Banking Competitive Edge Report 2020

The US Mobile Banking Competitive Edge Report 2020

Report
Dec 04, 2020

This annual scorecard, weighted based on responses to a consumer survey, ranks the 25 largest US financial institutions by assets by their mobile banking capabilities. The report presents detailed benchmarking data on the availability of 42 mobile features, selected by analysts based on the features’ propensity to help financial institutions differentiate themselves from competitors.

More than 80% of US Internet Users Will Access Their Bank Accounts Digitally in 2020

Article
Jul 09, 2020

This year, 81.6% of internet users in the US will access their bank accounts digitally at least once per month, according to our latest estimates. That’s significantly higher than the 72% we previously projected, due in large part to the pandemic. We expect this behavior to continue, and by 2023, we forecast there will be 207.3 million US digital banking users.

Looking Back at the Great Recession, as the World Faces a Coronavirus Pandemic

Looking Back at the Great Recession, as the World Faces a Coronavirus Pandemic

Report
Mar 25, 2020

The COVID-19 pandemic and efforts to mitigate it are wreaking havoc on the economy. How will advertisers respond? We looked back at our coverage of the industry during the Great Recession of 2007-2009 for historical perspective and precedents.

The Brand-Agency Relationship

The Brand-Agency Relationship

Report
Jun 13, 2019

This report will cover how brands rely on outside agency expertise and how that relationship has evolved in recent years. It also features 12 examples from brands on an in-house journey.

Are Consumers Ready for a Cashless Society?

Are Consumers Ready for a Cashless Society?

Article
Dec 07, 2018

Direct-to-consumer brands like Everlane and Bonobos, fast casual grain bowl chain Sweetgreen and beauty salon Drybar are just a few businesses that have adopted a cashless model. But consumers aren't necessarily ready to do away with cash.

Who's Mobile Banking in the US?

Who's Mobile Banking in the US?

Article
Dec 06, 2018

This year, 115.6 million mobile phone users in the US will bank on mobile at least once per month, according to eMarketer estimates.

Who's Using P2P Payments in the US?

Article
Dec 05, 2018

This year, there will be 82.5 million mobile phone P2P payment users in the US, according to eMarketer estimates.

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