By Imani Moise
(Reuters) - Bank of America Corp said on Monday it is rolling out a digital budgeting tool, wading into a space that has so far been dominated by fintech companies.
Life Plan, a new functionality on Bank of America's website and app, allows customers to set multiple goals like buying a home, improving credit or saving for retirement, and uses its existing trove of client data to serve them recommendations.
Such personalized advice used to be reserved for high-net worth customers who had enough cash to retain a financial advisor to help manage their wealth, but a host of digital budgeting tools, like Intuit Inc's Mint app, have used artificial intelligence to bring planning to the masses.
"Planning is no longer an activity that's born out of how much money you ...
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