FinAi News

No products in the cart.

Subscribe
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
Log In
No Result
View All Result
  • Banking
  • Lending
  • Payments
  • Risk & Security
  • Strategy
FinAi News
  • News
  • AI News Tool
  • Data
  • Transactions
  • Events
    • FinAi Banking Summit
    • FinAi Lending Summit
  • Podcast
  • WEBINARS
    • Webinar Library
BAN PLUS
Log In
No Result
View All Result
FinAi News
No Result
View All Result

Bank of America Lags Wells, Chase in Mobile User Growth

Philip RyanbyPhilip Ryan
July 15, 2015
in All Posts
Reading Time: 2 mins read
0
Share on Facebook

Sometimes adding 5,000 mobile banking customers a day — as Bank of America is doing — just isn’t enough.

© Can Stock Photo Inc. / Zuzule

Bank of America Corp. is increasing mobile users more slowly than rivals JPMorgan Chase and Wells Fargo & Co.

The Charlotte, N.C.-based bank announced today that it had 17.6 million mobile users in the second quarter, up 2.9% from the prior quarter and 13.6% compared to the same period last year. It also announced mobile deposits reached 13% of total deposit volume.

10,000 branch appointments a week are scheduled on mobile devices at Bank of America. “60% of our sales are all digital now, about 6% of the sale that are digital which is computers and mobile, or mobile and that’s growing at 300%,” said CEO Brian Moynihan.

The mobile growth figure is impressive– until you look at the bank’s closest competitors.

Both Chase and Wells grew their mobile user base more quickly. Chase reached 21.001 million users, growth of 5.2% over last quarter and 22.1% over last year. Wells Fargo announced “nearly 16 million” mobile users — more on that here — which, assuming a number of 15.9 million, represents a gain about 6.7% on the quarter and 21.4% on the year.

Interestingly, these mobile numbers do not line up with FDIC deposit account numbers. According to FDIC data for the quarter, BofA has about 70 million deposit accounts, while Chase had 47 million and Wells 81 million.

This figure means 44% of Chase customers are mobile users. BofA has about 25% of its customers suing mobile devices, and Wells Fargo just 19%.

According to the FDIC, in other words, while the nation’s largest largest banks are all growing mobile users at a steady pace, Chase is far outperforming its rivals.

big3_mobile

Tags: Bank of AmericaJPMorgan ChaseWells Fargo
Previous Post

Wells Fargo Goes AWOL With Its Mobile Performance Data

Next Post

3 Startups to Watch: FundMyPro, ShareRate, LETZ

Related Posts

(AI-generated)
All Posts

AI-driven ‘SaaSpocalypse’ fears overblown, experts say

April 1, 2026
All Posts

Is Your Technology Supplier There for You?

April 1, 2026
(Courtesy/Bluevine)
All Posts

Bluevine’s AI chatbot resolves 80% of customer queries

January 7, 2026
Next Post

3 Startups to Watch: FundMyPro, ShareRate, LETZ

Please login to join discussion

EMERGING FINTECH DIRECTORY

Emerging Fintech Directory

FinAi Podcast

SPONSORED

Build an Antifragile Strategy to Outperform the Market

July 14, 2026

How AI and Product Experts Turn Fuzzy Requirements Into Focused Dev-ready Roadmaps

April 19, 2026

Is Your Technology Supplier There for You?

April 1, 2026

  • About Us
  • Help Center
  • Contact Us
  • Privacy Terms
  • ADA Compliance
  • Advertise

Connect

twitter linkedin podcast podcast podcast podcast
© 2026 Royal Media
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Unlock This Article

Create your free FinAi News account to access this article and stay informed on how AI is transforming financial services including banking, lending, payments, and risk.

Yes, I'd like to receive FinAi News updates, breaking news, and exclusive AI insights for financial services leaders.

Continue Reading with FinAi News Premium - Less than $2/Day

Upgrade to FinAi News Premium for unlimited access to news, insights, trends, and intelligence on how AI is transforming financial services including banking, lending, payments, and risk.
Upgrade to FinAi News Premium Subscription
No Result
View All Result
  • NEWS
    • All News
    • Banking
    • Lending
    • Payments
    • Risk & Security
    • Strategy
  • AI News Tool [Beta]
  • DATA
  • TRANSACTIONS
  • EVENTS
    • FinAi Banking Summit
    • FinAi Lending Summit
  • PODCAST
  • WEBINARS
    • Webinar Library
  • SUBSCRIBE
  • Log In / Account