CHARLOTTE, N.C.—Bank of America’s emphasis on growing its digital business appears to be paying off. The bank’s first-quarter earnings report reveals it ended the three-month period with 27.1 million mobile banking customers who use its mobile app regularly.
That's up 9% on a year-over-year basis, noted Forbes.
Meanwhile, Zelle, the peer-to-peer payment service, had 5.4 million BofA users at the end of the quarter while the bank’s take on the voice-activated digital assistant—Erica—now has 6.3 million users.
As it stands, 77% of BofA’s deposit transactions are completed through digital methods, Forbes said.