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Mobile Bank of America gets 1 million users

Bank of America has been signing people up to its mobile banking service quicker than you can say Big Mac and fries – according to BoA, there are now one million active users doing their finances by mobile and over four million banking sessions taking place every month.

The bank says Los Angeles residents are the most prolific mobile bankers with most users falling into the Gen X or Gen Y bracket – two-thirds of mobile bankers are under 35 years of age. They’re also not just sticking to passive banking like checking their balances, four in ten are also paying bills with their phone.

I’d always assumed that mobile banking was a bit slow to take off because of security concerns (justified or not) around accessing cash over mobile, but it looks like it might just be a plain and simple case of the devices not being quite up to it. BoA says: “Apple iPhone, RIM Blackberry and Microsoft Windows Mobile devices are the most popular ones used by mobile banking customers.” It looks like mobile banking was just suffering along with every other website from phones that didn’t make browsing the user-friendly experience it should be.

3 replies on “Mobile Bank of America gets 1 million users”

I think mobile banking would take off more if the stupid banks didn't prohibit certain browsers from accessing the service. For example, when using the RBS online banking, you are not allowed to login using a Symbian phone as its not the usual IE 6.0, Firefox etc.

Online banking websites are pretty basic, they don't contain any intensive functions that would cause problems.

Luckly my other bank, Nationwide doesn't block access to Symbian browsers!

You can probably tell which one I use more often then… 🙂

I think mobile banking would take off more if the stupid banks didn't prohibit certain browsers from accessing the service. For example, when using the RBS online banking, you are not allowed to login using a Symbian phone as its not the usual IE 6.0, Firefox etc.

Online banking websites are pretty basic, they don't contain any intensive functions that would cause problems.

Luckly my other bank, Nationwide doesn't block access to Symbian browsers!

You can probably tell which one I use more often then… 🙂

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