The Bankwatch

Tracking the consumer evolution of financial services

Bank of America launches text banking | Netbanker

Jim at Netbanker notes BofA have quietly launched text banking, and it is rolling out in waves.  As Jim points out there is so much more banks can do with mobile.  Everyone has a mobile device in their pocket, enjoy using it and like to interact with it.  Why not take advantage of it, and not just to shift activity to the channel.  that work is largely done.  Mobile offers the potential to build loyalty through  spending and budget assistance type apps.  Ron recently noted his bullishness on PFM’s and I believe the connection of PFM to mobile will be a powerful one. 

Netbanker has more on mobile in their latest Online Banking Report.

The signup process required the entry of a mobile number and a YES response from that mobile device (see screenshots below). While, that’s not much to ask, it did seem unnecessary since I was already signed up for mobile banking through that number.

After responding yes from my mobile, I received a welcome text from the bank.


Written by Colin Henderson

April 13, 2010 at 08:36

Posted in mobile banking

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