Mobile banking is gaining in popularity, and banks are beginning to take notice. One of these forward-looking institutions is Bank of America
Hot on the heels of an announcement that B of A would be closing more ATMs nationwide came the good news: The bank would soon be rolling out updated mobile banking apps for Apple's
No slouch when it comes to mobile banking
Bank of America is not the first bank to offer this service. Wells Fargo
While it seems as if B of A is holding up the rear when it comes to this new technology, it is worth noting that their apps can also be used on tablets, not just smartphones. Both Citi and Bank of America have been ahead of the curve when it comes to tablet banking, but it looks like only B of A allows remote check deposit on tablets, though I wouldn't be surprised if Citi added this feature in the near future.
Now that B of A's new apps are available, it will likely take some of the sting out of the ATM and bank branch closures, steps that the bank is taking to save costs. In addition, the fact that its app updates include tablets will make the service available to a wider customer base, such as the underbanked.
Although it may look as if it's late to the mobile check deposit game, Bank of America is definitely the frontrunner in the mobile banking space. The bank was one of the pioneers in this area, and it has over 10 million mobile customers -- more than any of its rivals, and 3 million more than a year ago. It is also the undisputed leader in tablet banking, with apps for Apple, Amazon's Kindle, and Android-based devices.
Despite its myriad problems, it seems certain that Bank of America will continue to keep its focus on the future of banking -- while picking up more and more customers along the way.
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Fool contributor Amanda Alix owns no shares in the companies mentioned above.
The Motley Fool owns shares of Citigroup, Apple, Bank of America, Amazon.com, Google, and JPMorgan Chase. Motley Fool newsletter services have recommended buying shares of Apple, Google, Wells Fargo, and Amazon.com. Motley Fool newsletter services have recommended creating a bull call spread position in Apple. Motley Fool newsletter services formerly recommended JPMorgan Chase. The Motley Fool has a disclosure policy.