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Bank of America Reaches Milestone: 10 Million Mobile Banking Customers

More Mobile Banking Customers Than Any Other Bank

Category:

Wednesday, May 23, 2012 4:01 pm EDT

Dateline:

CHARLOTTE, N.C.

Public Company Information:

NYSE:
BAC
"We are committed to innovating new capabilities to meet our customers’ needs for convenient ways to manage their money on-the-go."

More customers choose Bank of America to bank on-the-go than any other bank. Over 10 million Bank of America customers are now using mobile banking, representing growth of nearly 3 million active users over the last 12 months.

New technologies are changing consumers’ lives and are rapidly shaping what they want from their bank. Consumers expect flexibility and want to be connected and in control of their money. Bank of America’s mobile banking customers have the ability to check account balances, transfer funds, pay bills and find the closest ATM, all from their mobile device.

The exploding growth in mobile banking is also fueled by consumers’ increasing comfort with using their mobile devices to conduct many activities in their lives, including securely managing their finances with confidence that their money is protected.

“Increasingly, our customers are choosing to manage their finances with us in the digital space. We are seeing an average of over $1 billion in transactions weekly through mobile banking,” said Aditya Bhasin, Consumer Marketing and Online and Mobile executive. “It is much more than simply checking balances, they’re actively managing their banking accounts.”

Bank of America was among the first to launch mobile banking and continues to lead the industry in developing new capabilities to meet customer demand for new mobile technologies. The bank was the first financial institution to launch an app for Apple, BlackBerry and Android devices and the only bank that has deployed a tablet‐specific app for all three platforms: Apple®, Kindle™ and Android™.

Recently, Javelin Strategy & Research named Bank of America’s service among the top three tablet banking apps across all financial institutions, with the company’s Kindle Fire app earning the highest marks.

“Our customers’ feedback is the single most important factor guiding us as we launch new mobile technologies this year,” said Bhasin. “We are committed to innovating new capabilities to meet our customers’ needs for convenient ways to manage their money on-the-go.”

Bank of America offers customized, downloadable applications for the most popular mobile platforms, including:

  • iPhone®/iPod Touch®
  • iPad®
  • Google Android™
  • BlackBerry®
  • Windows® Phone
  • Android Tablet™
  • Kindle Fire™

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,250 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

© 2012 Bank of America Corporation. All rights reserved.

For more Bank of America news, visit the Bank of America newsroom.

www.bankofamerica.com

Contact:

Reporters May Contact:
Tara Burke, Bank of America, 1.203.292.6590
tara.a.burke@bankofamerica.com