Bank of America Introduces New Digital Tools for Small Business

Business Wire 6-Feb-2019 9:30 AM

Business Advantage 360 Creates Mobile Toolkit for Entrepreneurs

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 (Photo: Business Wire)

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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 AmericaBank 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

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