Bank of America creates digital coach to build long-term loyalty

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (NYSE:BAC) will introduce in the fall a digital financial coach, called Life Plan, that it hopes will keep customers for decades, CNBC reports.

The digital portal will help users work towards goals like buying a house or saving for retirement.

The country's largest lender has been building digital capabilities for a while, adding updated banking apps, electronic payments, and Erica, the bank's virtual assistant.

Life Plan is intended to tie those capabilities together. For example, later this year, it will incorporate Erica for those who want to access Life Plan using voice commands.

In the mobile app and website, users choose priorities from a selection of bubbles, then the program will generate personalized suggestions.

Previously: Banking app N26 eyes U.S. market (April 1)

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