Working at a branch may not be a viable means of getting an entry-level bank job anymore. Branch traffic is down, costs are up, and sales are flat. That’s the familiar story from America’s bank branches, and the industry is calling for employees with both broader and deeper skillsets toRead More
Post Tagged with: "Bank of America"
Bank of America might be lagging some of its competitors in mobile banking user growth, but the bank is increasing its remote deposit business at an enviable rate. The bank said yesterday that 13% of its deposits last quarter — or roughly $4.5 billion of a total $34.2 billion of newRead More
Mobile banking ain’t growing like it used to. A deep look mobile banking at the Big 3 banks — Bank of America, Wells Fargo & Co. and JPMorgan Chase & Co. — finds user growth easing. The banks had a total of 51.8 million mobile banking users at the end ofRead More
Samsung didn’t just introduce Samsung Pay yesterday. It introduced it with four megabanks as partners. JP Morgan Chase & Co., Bank of America, Citigroup and US Bancorp all are launch partners of Samsung Pay. The four are among the largest card-issuing banks in the nation. Oh, and all four areRead More
Representatives of the 24 banks that collectively own The Clearing House Payments Co., the oldest banking and payments association in the United States, will meet in New York next week to discuss faster payments, according to a representative of one of the member banks. The meeting next week, which isRead More
A new shopping and rewards app, Moneyworks, hit the Google Play store yesterday. Another shopping and rewards app? Yes. But Moneyworks, which launched but a week ago, offers a bit of a twist in that it is predictive and can push relevant offers to users before users are even aware of theRead More
What’s next from Wells Fargo & Co.’s mobile channel? Here are the internal projects Wells is investing in now, courtesy of none other than John Shewsberry, the megabank’s chief financial officer: Wells is building an appointment application that will allow its customers to set up meetings with Wells bankers usingRead More
Bank of America Corp. released numbers on its mobile deposits and they are impressive. The key figure: 12% of all deposits at the nation’s second-largest bank are now transacted on mobile devices. Last quarter, the bank noted 10% of its deposits were mobile, so this number has grown 20% inRead More
This has been a good year for U.S. equities in general, obviously, but also for bank stocks. Just the fact that bank stocks, on the whole, have performed well deserves note. Yes, we are still in an accommodating interest rate environment, but the banking sector has screwed up such beneficence inRead More
And then there were three. Bank of America has joined JPMorgan and Wells Fargo & Co. in releasing an Apple Pay ad. Some industry experts have described the discounted rate banks gave to Apple as a marketing expense, and many banks have indeed touted their Apple Pay connection. But soRead More
Bank of America Corp. has quietly expanded its text banking service — yes, text banking service — to “support” at least three more telcos. Those telcos are Sprint, Boost, and Cincinnati Bell. BofA also added MetroPCS, which is a T-Mobile brand.