IBM & Bank of America Working On World’s First Financial Services-Ready Cloud

IBM has announced it is developing the “world’s first financial services-ready public cloud,” and Bank of America has joined the effort. While software companies have a long track record of making software tailored to a specific industry, it is a…

Bank of America CEO: Our Efficiency Is Driven By Technology

“It’s absolutely a fair statement that we are actually a technology company that is really fabulous at banking,” says Bank of America CEO Brian Moynihan. “Our efficiency is driven by the technology enablement of the consumer and wealth management companies and it’s always more efficient to serve it that way. So that 57 percent efficiency ratio, that’s enabled by technology.”

It Takes Both High-Touch and High-Tech, Says Bank of America CEO

Bank of America has gone massively digital and it is now powering their growth. “We had a billion and a half logins to our apps last quarter,” says Bank of America CEO Brian Moynihan. “This is not theoretical. We are one of the largest digital companies. We are also one of the largest physical companies. It takes both high-touch and high-tech.”

Bank of America CEO: Digitalization Is Not Something That’s Coming, It Already Exists

Digitalization is not something that’s coming, this is something that already exists, says Bank of America CEO Brian Moynihan. He says that 25 percent of their sales are done on digital. Moynihan says his goal is to bring the whole banking system to the digital age to make it more efficient for customers.

Wells Fargo Says Blac Youngsta Never Had An Account With Them, Rapper Proves Otherwise

On January 13, rapper Black Youngsta posted a letter from Wells Fargo on his Instagram page, notifying him that his “deposit account relationship” with the bank is ending, citing that it was “business decision” on the part of the company.…

Bank of America Settles Hefty $9.3M Lawsuit

Bank of American took quite a hit from the Federal Housing Finance Agency in a lawsuit that ended in a $9.33 million dollar lawsuit. The FHFA, which is the agency that oversees the operations of Fannie Mae and Freddie Mac,…

BofA Settlement Reaches $9.5 Billion

Bank of America has settled yet another expensive mortgage case. The Federal Housing Finance Agency (FHFA), which represents Fannie Mae and Freddie Mac, brought mortgage-backed securities allegations against the second largest bank in America. Now Bank of America will have…

‘Invisible’ Now Available For Free Download

The Super Bowl is known for it’s entertaining commercials. While this specific ad isn’t for the latest stye of beer bottle or headphones, this ad does offer something many of the other commercials don’t. The commercial starts with a close-up…

Alcoa, Bank of America, and HP Removed from Dow

Starting September 23, Alcoa, Back of America, and HP will no longer be among the 30 companies listed on the Dow Jones Industrial Average. The changes “were prompted by the low stock price of the three companies slated for removal…

Bank of America Intern Death Puts “Workaholism” in Spotlight

The recent death of an intern at Bank of America Merrill Lynch in London has some people asking for an overhaul of the “workaholism” culture among the younger members of staff in London. German student Moritz Erhardt, 21, had earned…