Bank of America (BofA), the second largest US bank by assets, has announced the release of a mobile banking app for Kindle, available via Amazon.com.

The application will enable customers to complete day-to-day transactions on the Kindle tablet.

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The app allows customers to use BankAmeriDeals, a service offering cash-back on Bank of America debit and credit cards, and an email and mobile transfer service enabling holders of a Bank of America account to transfer money to other users using an email address or mobile phone.

According to the bank, the app can run on several mobile devices currently on the market.

BofA have said mobile banking is becoming increasingly important for the bank.

Bruce Thompson, the bank’s chief financial officer, said: "We have 13.2m mobile users. And adoption of this channel continues to move very rapidly, as 4% of all checks in the second quarter of 2013, just under 12m checks, were deposited using mobile check deposit, which we just launched during the second quarter of 2012."

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In its 2013 report ‘Tablet Banking: An Evaluation of Tablet Apps at the Top US Banks’, Boston-based research and consulting group Celent found that over the last couple of years tablets banking has grown to become vital to every bank.

Jacob Jegher, research director at Celent’s banking group and co-author of the report, said: "Consumers are growing more accustomed to interacting with their financial institution through devices other than PCs."

A further Celent report released in June 2013 compared mobile banking applications provided by major US banks, and concluded that Bank of America in particular ‘has made an enormous amount of progress, transforming into one of the premier offerings in this report.’

 

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