Bank of America Introduces New Digital Tools for Small Business

Business Advantage 360 Creates Mobile Toolkit for Entrepreneurs

CHARLOTTE, N.C.–(BUSINESS WIRE)–Bank of America today introduced Business
Advantage 360
, a new digital dashboard designed to make it easier
for entrepreneurs to manage the various financial aspects of their
business. Available for the first time to any Bank of America client
with a business deposit account, Business Advantage 360 provides a
complete view of business cash flow and access to real-time expertise
and guidance – all in one simple tool with new functionality.


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“Business Advantage 360 will help entrepreneurs save time and money, by
providing a more complete financial picture of their business,” said
Sharon Miller, managing director, head of small business at Bank of
America. “This new feature is easily accessible on mobile devices, and
will allow our clients to focus on the reasons they opened their
business in the first place.”

Business Advantage 360 includes a variety of brand new capabilities to
make it easier for entrepreneurs to manage their business, including:

  • A new, streamlined view of key transactions, major expenses, credits
    and debits.
  • Automatic cash flow projections based on scheduled transactions.
  • Manually adjusting cash flow projections to account for additional
    data, such as new sales.
  • Setting cash flow thresholds, creating time for proactive adjustments.
  • The ability to connect with experienced small business bankers for
    guidance in just one click.

Future capabilities of the tool will deepen the cash flow insights,
provide general market research and analysis, and enable clients to
manage items such as payroll and human resources, payments and invoices,
merchant services, tax accounting, goal-setting and forecasting.

Business Advantage 360 is built directly into the Bank of America online
and mobile banking platforms, and will be available to all clients by
the end of this month. The no-cost tool does not require enrollment and
is accessible through a link on the main pages of the Bank of America
online and digital banking portals for small business clients.

With more than 9 million clients who own small businesses, Bank of
America is committed to delivering a seamless experience across all
channels, making it easier than ever for clients to manage their
finances and gain a competitive business advantage. In addition to
Business Advantage 360, Bank of America offers a streamlined small
business mobile
lending experience
and launched Business
Advantage Relationship Rewards
, the most comprehensive multi-product
rewards program available in the small business banking space.

Bank of America
Bank of America is one of the world’s leading
financial institutions, serving individual consumers, small and
middle-market businesses and large corporations with a full range of
banking, investing, asset management and other financial and risk
management products and services. The company provides unmatched
convenience in the United States, serving approximately 66 million
consumer and small business clients with approximately 4,300 retail
financial centers, including approximately 1,800 lending centers, 2,200
Merrill Edge investment centers and 1,500 business centers;
approximately 16,300 ATMs; and award-winning digital banking with more
than 36 million active users, including over 26 million mobile users.
Bank of America is a global leader in wealth management, corporate and
investment banking and trading across a broad range of asset classes,
serving corporations, governments, institutions and individuals around
the world. Bank of America offers industry-leading support to
approximately 3 million small business owners through a suite of
innovative, easy-to-use online products and services. The company serves
clients through operations across the United States, its territories and
more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is
listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and
other important information, visit the Bank
of America newsroom
. Click here to
register for news email alerts.

www.bankofamerica.com

Contacts

Reporters May Contact:
Don Vecchiarello, Bank of America,
1.980.387.4899
don.vecchiarello@bankofamerica.com