Bank of America and Wells Fargo each reported their first-quarter earnings on Thursday morning, and revenues came in lower than normal, as expected for the quarter thanks to plummeting oil prices, tumultuous global markets, and the Federal Reserve’s interest rate hike in December.
Despite these issues, mobile and digital banking continues to surge. JPMorgan Chase is the leader in this category, as it ended the quarter with 23.8 million active mobile banking users, an increase of one million from the previous quarter and 19% year-over-year.
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Source: Business Insider