3 Key Upgrades to Bank of America�s New Mobile App

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Self-service

A recent Forrester study noted that large banks in the US have added many payment and transactional options in their mobile apps, but are lagging in building in self-service options. Bank of America added two new self-service options through an “I want to…” tab in the account overview section. The first option allows customers to replace lost or stolen cards (after providing some extra authentication), and the second option allows them to view and order copies of past checks.

“Our customers definitely want to self-service. One of the top reasons for calls to our call center last year was to replace passwords. There’s no need to call the call center for that. So now you can replace that online,” Gopalkrishnan says. “We look at how do people get interrupted in their life… Losing and replacing a card can be a strenuous process. So now we let them authenticate and do it themselves.”

The bank also improved its payment capabilities as well with the new app, adding the ability to make a P2P payment to an individual in the user’s contact list.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

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