Bengaluru,30-08-2025 – Erica, the most widely adopted AI-driven virtual financial assistant, is a central gateway to serving clients – assisting nearly 50 million users since launch, surpassing 3 billion client interactions, and now averaging more than 58 million interactions per month. Launched in 2018, Erica is deepening relationships with clients and driving greater efficiencies throughout Bank of America.
“Erica has been learning from our clients for many years, enabling us to leverage AI today at scale, globally,” said Hari Gopalkrishnan, chief technology and information officer at Bank of America.
“Our early and ongoing investments in AI demonstrate our commitment to delivering innovative experiences and value to clients.”
Clients have received and interacted with more than 1.7 billion proactive, personalized insights delivered by Erica. Some recent examples of how Erica is helping clients stay on top of their finances include:
- Highlighting BankAmeriDeals cash back deals for clients based on their spending.
- Alerting clients which way their balances are trending in the next 7 days.
- Notifying clients of their eligibility for Preferred Rewards, increasing the value of their relationship with the bank.
- Providing guidance on nearly 50 investment-related topics, allowing Merrill clients to engage with Erica when managing their banking, investment and retirement relationships.
- Scheduling an appointment via Erica, creating a seamless handoff to high-touch service channels.
“Our clients appreciate Erica’s ability to help them manage their spending, improve budgeting and increase savings,” said Nikki Katz, head of digital at Bank of America. “Erica is the bedrock upon which we’ve built an unmatched high-tech, high-touch client experience.”
Clients have spent more than 18.7 million hours conversing with Erica. More than 98% of users find the information they need, significantly decreasing call centre volume and allowing financial specialists to spend time focusing on more complex financial conversations with clients.
Bank of America’s data scientists have trained Erica to recognise and respond to millions of client questions using a library of more than 700 responses. The system has undergone over 75,000 updates since launch to continuously improve the client experience. Over the next year, the bank will expand Erica’s abilities further to offer more personalized insights to help clients know more about their finances.
