CHARLOTTE — Bank of America, the second-largest U.S. bank by assets, released several updates to its popular mobile banking app on Monday, combining banking, investing, and lending in one location.

As part of the update, Bank of America will let mobile app customers view checking and savings accounts and investing and retirement accounts through Merrill, the company said in a press release. What’s more, clients can now execute trades from Merrill investment accounts with the new in-app trading capability.

Bank of America is also extending its A.I.-driven virtual financial assistant “Erica” to share insights on portfolio performance, investment balances, stock quotes, and holdings. Erica can also connect customers with a Merrill advisor.

“We are focused on delivering a personalized digital experience that spans and supports the full breadth of each client’s relationship. Each digital experience we develop for clients is founded on three principles: It should be in the client’s best interest; it should provide information and advice that is relevant and timely; and it should offer the client the choice of the next best step,” David Tyrie, Bank of America’s head of digital and financial center strategy said in a statement.

Bank of America, which debuted mobile banking a decade ago, has seen “record levels” of engagement in its digital business during the COVID-19 pandemic.

Bank of America currently supports 40 million digital clients, including more than 30 million active mobile users. In the second quarter, Bank of America customers logged into their accounts more than 2 billion times.

This year alone, A.I. assistant Erica added 5 million new clients and completed 75 million customer requests. Erica now averages approximately 400,000 customer interactions each day, up nearly 100 percent from a year ago.

Shares of Bank of America (BAC) were trading down 23 cents near $25.51 on Tuesday.

The release is available here.

This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s Hussman School of Journalism and Media