The bank’s AI-driven virtual assistant, which lets people quickly search transactions and cancel subscriptions and other recurring charges, was an instant hit. But BofA will have to take a number of steps to sustain erica's early momentum.
Mary Kate Loftus spearheaded a $131 million digital initiative to improve the customer experience, deepen relationships and attract more of HSBC’s target consumer segments. She was one of our Digital Banker of the Year finalists for 2018.
Many banks talk about the need to replace legacy core systems, but relatively few go through with it. The CEO of Mechanics Cooperative Bank in Massachusetts explains the case he made to his board that the promise outweighed the risk.