Bank of America Corp. is confident in its growth prospects even as competition intensifies from fintechs including

Walmart Inc.s startup.

I respect every competitor, I dont fear any competitor, Bank of America Chief Executive Officer Brian Moynihan said in an interview Monday on Bloomberg Television. We study all competitor moves, whether its the fintech disruptors or major players.

WATCH: BofA CEO Brian Moynihan says he is not concerned about competition from fintechs.

Walmart lured a pair of senior bankers last month from Goldman Sachs Group Inc. to run its fledgling financial-technology operation. The move

struck fear on Wall Street, which has been urging regulators to halt efforts by retailers and startups to offer core banking products to millions of consumers.

Bank of America has an advantage because of its scale, Moynihan said, citing the companys 40 million digital customers.

What makes us unique is we serve all segments of clients, from mass-market consumers to wealthy individuals and large businesses, he said.

Earlier this month, rival bank CEO Jamie Dimon of JPMorgan Chase & Co.

said the company is prepared for intensifying competition.

With assistance by Jacqueline Fabozzi

    Before it’s here, it’s on the Bloomberg Terminal.

    LEARN MORE