The Types of Chatbots

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As the coronavirus pandemic changes the way US consumers handle their banking functions, placing greater emphasis on digital channels, Bank of America’s (BofA) virtual assistant, Erica, is seeing surging usage, CIO reports.

Erica — which customers can use for a variety of functions including balance inquiries, tracking spending trends, and requesting payment deferrals, among others — added 1 million users per month from March through May to reach a total user count of 14 million, Aditya Bhasin, CIO of consumer and wealth management technology at BofA, told the outlet.

The spike in new users marks an acceleration of already steady user growth for Erica, which has added an array of new capabilities since it was launched. The virtual assistant was introduced in May 2018, and since then has gained functionalities including alerting users to upcoming bills, showing recurring charges, and updating the card information used to carry out those charges.

Erica got off …read more

Source:: Businessinsider – Finance


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