With more and more people using their tablets and smartphones to take care of their banking needs, the Charlotte, NC-based Bank of America unveiled a new improved mobile app that, along with other features, allows users to use a fingerprint scan to log into their accounts.
Improved features to both its webpage and mobile app
Bank of America announced today that it had added a number of new features to its mobile app including fingerprint login for Android device, iPhones , and iPads as well as the release of Apple Watch app that is set to be released today.
What can past market crashes teach us about the current one?
In the press release announcing the improvements the company promised a new look for over 31 million users that promised both a new look and a more “personalized, seamless experience.” Of those 31 million users that use Bank of America’s online banking options, BOA found that over 17 million of them are using the company’s mobile offerings and that number is growing by over 5000 people per day according to the company’s Spring 2015 “Trends in Consumer Mobility” report.
“We continue to deliver enhancements that provide our customers a more seamless and secure banking experience,” said Michelle Moore,head of digital banking at Bank of America. “This is another example of how we are helping our mobile and online banking users simplify their financial lives.”
More takeaways from the Bank of America report
Bank of America‘s study involved a telephone survey of 1,000 of its customers conducted by Braun Research in the Spring. According to the report, approximately three-quarters (71%) of respondents are sleeping with–or next to–their mobile phones.Younger millennials (ages 18-24) are most likely to sleep with their smartphone on the bed (34%).
Additionally, 35% of respondents said that their smartphone was the first thing they thought of when they awoke in the morning. A number that was three fold the amount of people who were thinking “I need coffee now.”
Perhaps the biggest reason for Bank of America’s constant work on its mobile banking offerings is that fact that over 60% of those that use mobile banking apps use the apps at least a “few times a week” and that 78% said that they would like additional security features with 50% comfortable with fingerprint scanners.