Bank of America has announced that it will be making significant investments across physical and digital, including the opening of 500 new digitally-enhanced branches over the next four years.

The bank plans to redesign more than 1,500 branches across the US, with new technology, furnishings and layouts, and add more than 5,400 certified professionals to better meet client needs. The bank has completed 620 renovations and opened more than 160 new branches, including 13 high-technology ‘advanced centres’ that were piloted in 2017.

Bank of America will be deploying more than 3,500 digital experts to assist customers with the bank’s latest digital capabilities. Almost 600 branches also have a dedicated learning space with interactive tools, enabling clients to learn about and demo the bank’s offerings.

In March, the bank is launching Erica – a virtual financial assistant to assist with tasks such as accessing balance information, transferring money between accounts, sending money with Zelle, and navigating the mobile banking app.

From April, customers will be able to complete a mortgage application within the bank’s mobile app, saving them time by pre-populating their information. It also integrates with the bank’s home loan platform, which allows clients to track their loan 24/7, upload documents, and review and acknowledge disclosures right on their mobile device.

Launching in the summer, the bank is rolling out a MyRewards digital hub to enable clients to access and redeem rewards across products in one place, including any Bank of America credit card, BankAmeriDeals, and Preferred Rewards.

Dean Athanasia, co-head of consumer and small business at Bank of America, commented: “Our high-tech and high-touch approach means our team is able to help clients with their financial needs throughout their lifetimes and deliver extraordinary client care at all times, no matter how they choose to do their banking.”

Thong Nguyen, co-head of consumer and small business at Bank of America, added: “We continue to deploy significant resources to meet the changing needs of an expanding client base, providing access to capabilities and financial professionals who will offer solutions aligned with our clients’ priorities.”

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