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Bank of America's AI assistant is ready to help with your finances
We've been expecting voice-powered virtual assistants in financial apps for a while now — Bank of America started developing its own back in 2016. Dubbed Erica, the virtual assistant is now ready to roll out to the bank's 25 million mobile clients across the US, from now through June of this year.
Bank of America is adding two-factor fingerprint authentication
In the wake of recent security breaches, including but certainly not limited to Equifax, Bank of America has stated it will integrate fingerprint-based two-factor authentication into its online banking setup. The financial institution will start using Intel's Online Connect system to ensure customer security at some point in 2018.
Bank of America now supports Android's fingerprint scanner
Sure, smartphone fingerprint scanners like Apple's Touch ID and Google's Nexus Imprint help keep your phone more secure. But they also make it easier to log into various apps or make purchases without having to type an unwieldy password into your phone. That's why we're glad to see the Bank of America app add support for Android Marshmallow's native fingerprint recognition APIs. This means that Nexus 5X and 6P owners can now log into their bank accounts with their fingerprint, a feature that was previously reserved for Samsung phones with a fingerprint sensor.
Bank of America testing QR Code scanning mobile payment system in North Carolina
Mobile payment is still a bit of a wild west at the moment, and seemingly every technological and financial institution has a dog in this fight. Bank of America's not going to just sit idly by and watch it all unfold. The US's second largest bank has flirted with NFC in the past and is currently doing trials with QR scanning in Charlotte, North Carolina, where it's based. At present, five sellers in the area are taking part in the pilot program, with bank employees given access to the technology. The three-month trial is the result of a partnership with mobile payment company Paydiant, is compatible with Android handsets and iPhones, no NFC needed, naturally.
