BofA's clients use virtual assistant over 1 billion times


FILE PHOTO A customer uses an ATM at a Bank of America branch in Boston Massachusetts U.S. October 11 2017. REUTERSBrian SnyderFile Photo

FILE PHOTO: A customer uses an ATM at a Bank of America branch in Boston, Massachusetts, U.S., October 11, 2017. REUTERS/Brian Snyder/File Photo

(Reuters) - Bank of America on Wednesday said 32 million customers had used its virtual assistant, which allows them to check bill payments, account balances and track spending on the mobile banking app, more than 1 billion times since its launch in 2018.

Wall Street banks have lately been focused on expanding into the digital banking space with heavy research and development investments and acquisitions to keep up with customer demands and also as a way to cut overhead costs at physical branches.

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