A big chatbot milestone for Bank of America

BofA's virtual financial assistant Erica surpassed 1 billion client interactions

Image by mohamed Hassan from Pixabay

On October 12, Bank of America announced that its virtual financial assistant Erica has surpassed 1 billion client interactions since launching in 2018.

The banking giant also revealed other insightful data:

• 32 million BofA clients have used Erica (the financial institution serves approximately 67 million consumers and SMB clients in the US).

• Clients viewed 37 million “proactive insights” through the bot.

• More than 98% of users “get the answers they need” using Erica.

Below is a neat infographic summarizing Erica’s evolution.

Image: Erica over the years timeline. Credit: Bank of America.

Erica’s usage rate is quite high to say the least. It’s definitely one of the most notable chatbot implementation success stories in the banking sector.