JPMorgan Chase & Co. reported a 30% climb in mobile banking accounts over the last year, as well as 7% growth in the third quarter, according to the bank’s earning released today.
Wells Fargo & Co. also reported steep growth in the number of its mobile banking users last quarter.
The New York-based bank counted 14.99 million mobile accounts by the end of 3Q versus 11.57 million at the end of the same quarter last year and 14.01 million in 2Q 2013.
In the second quarter, the bank reported 32% YOY growth and 6% grow during the quarter. While JPM’s 3Q numbers were slightly off that pace, mobile banking growth remains strong and steady.
Online growth remains steady at 7% year-over-year and 2% quarter-over-quarter. This represents a positive change from 2Q 2013, when growth increased 6% year-over-year, but fell 1% quarter-over-quarter.
Revenues at JPMorgan Chase were down 7.7% year-over-year.
Meanwhile, Wells Fargo& Co.‘s mobile growth numbers were strikingly similar. The San Francisco-based bank reported 11.5 million active mobile customers, up 29% YOY, and 22.9 million active online customers, up 7% YOY.Like This Post