Post Tagged with: "Bank of America"

Chase Outpaces Rivals in Mobile Banking Race

Chase Outpaces Rivals in Mobile Banking Race

by July 18, 2016 at 11:05 am 2 comments

JPMorgan Chase is winning the mobile game. Bank of America held its second-quarter earnings call today, and was the last of the nation’s largest banks to do so. Mobile is of interest on bank earnings calls primarily as a cost-saving measure, as digital customers are less expensive to serve. For instance,Read More

Chase to Launch Its Own P2P App

Chase to Launch Its Own P2P App

by July 15, 2016 at 11:21 am 1 comment

JPMorgan Chase & Co. building a peer-to-peer payment app featuring its QuickPay service, which is tied into the clearXchange network, CEO Jamie Dimon announced yesterday. Dimon did not say when the app would be launched, only that it “will be rolled out shortly.” Interestingly, Dimon seemed to indicate that JPM would make theRead More

U.S. Bank Removes Fees on Instant P2P Payments

U.S. Bank Removes Fees on Instant P2P Payments

by July 6, 2016 at 5:11 pm 4 comments

U.S. Bank has abruptly reversed course on charging for realtime payments via the clearXChange network. Effective yesterday, U.S. Bank customers can make realtime P2P payments for free, just like the customers at the five other clearXchange member banks. Previously, U.S. Bank charged $6.95 for realtime payments and $2.95 for next-dayRead More

Ally Adds Android Pay and Samsung Pay to Boost Mobile Payments

Ally Adds Android Pay and Samsung Pay to Boost Mobile Payments

by June 23, 2016 at 10:44 am 1 comment

Ally Bank belongs to the “open-wallet camp,” for now. The online bank introduced Android Pay and Samsung Pay integration for its debit cards, in addition to the existing Apple Pay option, Ally announced yesterday. The addition of these two mobile payment services, according to CEO Diane Morais, expands the optionRead More

Bank of America Quietly Surpasses 20 Million Mobile Users

Bank of America Quietly Surpasses 20 Million Mobile Users

by June 22, 2016 at 1:31 pm 1 comment

Charlotte, N.C.-based Bank of America has passed the 20 million mark in active mobile users. No announcement was made, but a spokeswoman for the bank disclosed to Bank Innovation yesterday that the milestone has been crossed. The bank reported 19.6 million mobile users last April in its 1Q earnings report, and quarter-over-quarterRead More

Bank of America Study Shows Darker Side of Mobile

Bank of America Study Shows Darker Side of Mobile

by June 21, 2016 at 10:44 am 2 comments

Make no mistake, Bank of America is committed to mobile, and reveals more about its work on the platform than most banks. One example is the inclusion of BofA’s mobile check deposit figures in its quarterly earnings call. Few, if any of other banks, lay it out so starkly. That’s whyRead More

Chase 3rd Bank to Launch Realtime ClearXChange Payments

Chase 3rd Bank to Launch Realtime ClearXChange Payments

by June 14, 2016 at 5:10 pm 2 comments

Three banks are now live with realtime peer-to-peer payments on the ClearXchange network: U.S. Bank, Bank of America, and as of yesterday, JPMorgan Chase. U.S. Bank and Bank of America joined the realtime network in March. P2P payments were realtime within Chase since 2012, but now they are realtime amongRead More

U.S. Bank Wallet? Not Yet

U.S. Bank Wallet? Not Yet

by June 9, 2016 at 4:07 pm 2 comments

U.S. Bank would launch a mobile wallet, if a customer need arises, a spokeswoman told Bank Innovation. The bank announced a partnership with MasterCard yesterday, allowing customers to load their debit or credit cards into Android Pay and Samsung Pay mobile wallets. Choosing an open-wallet is the bank’s approach for now, spokeswomanRead More

Alternative Data In ‘Early Adoption Phase’ for Asset Managers, BofA Says

Alternative Data In ‘Early Adoption Phase’ for Asset Managers, BofA Says

by June 8, 2016 at 4:28 pm 3 comments

The use of alternative data for asset management has grown in popularity, but the industry is far from a complete adoption, Bina Kalola head of global strategic direct investments for global banking and markets at Bank of America, said during the Future of Fintech Conference this morning. “Data is beingRead More

Bank of America Back on Windows Phones

Bank of America Back on Windows Phones

by June 8, 2016 at 9:49 am 1 comment

After a yearlong absence, Bank of America’s mobile app is now available on Windows mobile devices. BofA announced last year that starting “early” March 2015 it will no longer support its mobile app on Windows 10 Mobile, Windows Phone 8.1, and Windows Phone 8 mobile devices, suggesting customers access their accounts online. The appRead More