CHARLOTTE, N.C., Oct. 7, 2021 /PRNewswire/ -- Bank of America is
the first financial services firm to launch virtual reality (VR)
training in nearly 4,300 financial centers nationwide. This
innovative training technology will allow approximately 50,000
employees to practice a range of routine to complex tasks and
simulate client interactions through a virtual environment. The VR
program is the latest in the company's long-standing investment in
the success of its people and dedication to providing a full range
of professional development tools.
"At Bank of America, our commitment to being a great place to
work for our teammates fuels our focus on innovation," said
John Jordan, Head of The Academy at
Bank of America. "VR is highly effective at helping teammates build
and retain new skills and it is one of many ways we are using
technology to support internal mobility and provide best-in-class
learning opportunities."
Every financial center in the Bank of America network will use
VR headsets for training. Through a series of learning modules
slated to roll out by the end of next year, financial center
teammates will have the opportunity to use 20 different VR
simulations and practice a wide range of skills including:
strengthening and deepening relationships with clients, navigating
difficult conversations, and listening and responding with
empathy.
Through real-time analytics embedded in this technology,
managers can also identify skill gaps and provide targeted
follow-up coaching and personalized guidance to teammates to
further improve performance. Following a successful pilot with 400
employees, 97% of the participants felt more comfortable performing
their tasks after going through the simulations.
"Innovation is at the heart of everything we do," said
Hari Gopalkrishnan, Head of Retail,
Preferred, Small Business and Wealth Management Technology at Bank
of America. "We are focused on creating and implementing
technologies that offer advanced solutions. With VR, we're rolling
out a proven learning tool that will empower teammates with the
skills they need to better serve clients and help make financial
lives better."
Delivered through The Academy – Bank of America's award-winning
onboarding, training and development organization – the VR program
is the latest addition to a suite of high-tech and high-touch
training and development tools offered by the company. The
bank has also invested in AI-powered conversation simulators that
enable enhanced role-playing opportunities, and platform simulators
that allow teammates to train in a real-world practice environment
on the systems, software and technical tools they use in their
day-to-day jobs. As a testament to Bank of America's innovative
approach to training and talent development, the company was
recently recognized with 28 Stevie Awards for Great
Employers as well as the Grand Stevie Award for the 2021
Organization of the Year.
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, approximately 17,000
ATMs, and award-winning digital banking with approximately 41
million active users, including approximately 32 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
households 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 approximately 35 countries. Bank
of America Corporation stock (NYSE: BAC) is listed on the New York
Stock Exchange.
Reporters May Contact:
Andy
Aldridge, Bank of America
Phone: 1.980.387.0514
andrew.aldridge@bofa.com
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SOURCE Bank of America Corporation