Mobile banking has overtaken desktop banking for the first time. Annual figures are from the largest 3 US retail banks: Wells Fargo, Chase and Bank of America.

Mobile banking accounted for 53% of total online activity amongst the 3 banks, according to 2014 figures compiled by BI Intelligence. JP Morgan reported a 22% increase in mobile banking use to 19.1m customers. Bank of America recorded a 15% increase to 16.5m users. Wells Fargo’s mobile base increased to 14.1m customers, up 19%.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The report states: "Migration to mobile banking is a huge opportunity for smaller banks and credit unions that don’t have the resources to compete with larger banks on metrics like staff per-customer and branch locations per-customer. A good mobile banking app is an inexpensive way to provide customers with many services that would otherwise require going to the bank and interacting with a representative."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.