Don’t adjust your screen — you read that right: Bank of America Corp. is adding an average of 10,000 new mobile users a day, according to CEO Brian Moynihan, who reviewed the growth rate on the bank’s earning call today.
We may get jaded because we hear so often about mobile adoption rates and customers requesting mobile features, but a number like this should be a wake-up call to banks dawdling on rolling out mobile.
CFO Bruce Thompson offered the following:
Our mobile banking customer base reached 12 million which is an 8% increase from the prior quarter and up 31% from a year ago. We reduced banking centers as we continued to optimize the delivery network around customer behaviors.
In other words, fewer branches, more mobile.
The good mobile news was a bright spot amid a somewhat gloomy quarter. Bank of America reported a drop in quarterly revenue of 25%, to $18.7 billion, a decline related to the bank’s mortgage difficulties.