Editing Electronic Recording Machine, Accounting (section)

== Legacy ==
The first production ERMA system, known as the GE-100, was installed in 1959. Over the next two years 32 systems were installed and by 1966 twelve regional ERMA centers served all but 21 of Bank of America's 900 branches.<ref>"[https://about.bankofamerica.com/en-us/who-we-are/our-history-and-heritage.html#technology-innovations Bank of America history: Technology & innovations]", Bank of America</ref> The centers handled more than 750 million checks a year, about the number they had predicted to occur by 1970. The automation was so effective that it allowed Bank of America to be the first bank to offer [[credit card]]s attached to a user's bank account. They were so successful in operation that Bank of America was propelled ahead of other banks in profitability, and became the world's largest bank by 1970.

ERMA machines were replaced with newer equipment in the early 1970s. There is a special room commemorating ERMA machines inside the Bank of America facilities in [[Concord, California]].{{citation needed|date=January 2020}}

Payments experts contend that ERMA "established the foundation for [[Online banking|computerized banking]], [[magnetic ink character recognition]] (MICR), and [[credit-card]] [[Payment processor|processing]]".<ref name="increment"/>