At Bank of America, we have a legacy of over 200 years of leadership putting clients first guided by a common purpose to help make financial lives better through the power of every connection.
Leadership
Leading in the financial services industry
Bank of America is a leader in consumer banking,1 wealth management2 and corporate and investment banking3 serving individuals, institutions, corporations and governments around the world. Our clients can benefit from a full range of industry-leading products, solutions and services.
A brand that listens
We listen to our clients and are committed to providing them with education and guidance to meet changing needs. We study the trends and challenges affecting everyone, from individuals to institutions, to inform innovations that help equip our clients with the tools and resources needed to pursue better financial lives. Together this information provides insights that can help inform benefit strategies, programs and public policies all in support of our purpose to help make financial lives better.
An inclusive approach
Our inclusive approach to financial wellness engages individuals wherever they are in their financial journeys with humility, sensitivity, respect and understanding to help each employee live better financially. Taking into account the unique factors that make individuals who they are helps:
- Make interactions meaningful
- Create personalized experiences that encourage employees to actively engage and take action toward their goals
- Cultivate a workplace where employees feel considered and cared for
A message from Lorna Sabbia
Managing Director, Head of Workplace Benefits at Bank of America
Your goals are our priority. We stand ready to engage, support and encourage you and your employees with the resources and experience of our entire organization, the unwavering commitment of leadership and a passion rooted in every level of our organization. As a broad-based provider to companies and individuals, our focus is on delivering holistic solutions that offer streamlined, personalized and compelling ways to help today’s diverse workforce manage their full financial lives, while helping simplify administration for our plan sponsor clients. Together, we can create a more meaningful benefits experience that gives employees confidence to take action toward their financial goals.
Committed to security
We have a commitment to data security because the trust of our clients is paramount. Our ability to protect client information comes from being forward-looking, agile and innovative. We are constantly assessing and evolving our information security program, testing our response capabilities and validating the effectiveness of our controls, including:
- Security protocols leveraging the full capabilities of Bank of America
- 24/7 monitoring and proactive plan for any cybersecurity event
- Anticipate potential threats and address critical vulnerabilities
- Mitigate incidents through a coordinated response
- Limit exposure across our network
- Ongoing work with industry professionals and government officials
Awards and recognition
Bank of America’s Retirement and Benefits Contact Center has been recognized by J.D. Power by providing “An Outstanding Customer Service Experience” for phone support 20 years in a row4
Bank of America – Outstanding Customer Satisfaction with Financial Health Support – Banking & Payments, 3 years in a row5
Defined contribution statement ranked #1 for the 13th year in a row (2024)6
Total retirement statement ranked #1 overall for the 5th year in a row (2024)6
Connect with a team member today
Let us help you differentiate your business and empower your employees to take control of their full financial lives.
Related topics
1Bank products are available from Bank of America, N.A., and affiliated banks.
2Investment products are available from Merrill Lynch, Pierce, Fenner & Smith Incorporated.
3Corporate and investment banking products are available from BofA Securities, Inc.
4The J.D. Power Certified Contact Center ProgramSM focuses on critical areas of customer satisfaction by rewarding best practices that are aligned with customer needs. To become certified for live phone interactions, a contact center operation must successfully pass a detailed audit and perform within the top 20 percent of customer service scores, which are based on benchmarks established in J.D. Power’s cross-industry customer satisfaction research. The evaluation criteria include the customer service representative’s courtesy, knowledge and concern for the customer; promptness in speaking to a person; and timely resolution of the problem or request. Additionally, the experience with the automated phone system is evaluated based on the clarity of the information provided, the ease of navigating the phone menu prompts and the ease of understanding the phone menu instructions. Certified as of August 2024. J.D. Power 2024 Certified Customer Service ProgramSM recognition is based on successful completion of an evaluation and exceeding a customer satisfaction benchmark through a survey of recent servicing interactions. Bank of America engaged J.D. Power to be independently evaluated through this program and cite the results. For more information, visit www.jdpower/com/awards. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome. Participation in the certification audit was paid for by Bank of America.
5J.D. Power 2024 Financial Health Support CertificationSM is based on exceeding customer experience benchmarks using client surveys and a best practices verification. For more information, visit jdpower.com/awards. The J.D. Power Financial Health and Advice Program explores the financial literacy and wellness of retail customers and provides insights to help financial institutions better target education, support and tools that improve customer financial health. It is designed to segment and profile banking customers based on financial health and to assess how well their primary institution is addressing the needs of each segment. To become certified, a company must successfully pass a detailed audit and perform within the top 20 percent of the annual J.D. Power Financial Health & Advice Program, which measures customer satisfaction with the financial health support services received from their bank or card issuer. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome. Participation in the certification audit was paid for by Bank of America.
6For the year ending 2023, DALBAR, Inc. examined defined contribution (DC) statements from 27 financial service providers, and total retirement (TR) statements from 5 financial service providers. Statements are scored on a 100-point scale in criteria grouped into four broad categories: Calculated to be Understood (Statement Clarity), Primary Content and Secondary Content (Statement Content), and Design and Statement Formats (Statement Design). Statements that earn 80–100 points are designated “excellent.” Statements that earn 70–79 points are designated “very good.” The DC statement earned a score of 88.10, the highest awarded in its category. The TR statement earned a score of 88.05, the highest awarded in its category. The ranking or ratings shown here may not be representative of all client experiences because they reflect an average or sampling of the client experiences. These rankings or ratings are not indicative of any future performance or investment outcome.