Bank of America Corp (BAC), Mobile and Beyond: How Banks Are Catering to Tech-Savvy Customers

Likewise, Green Dot Corporation (NYSE:GDOT) has just opened its new mobile banking operation, GoBank, to everyone after testing it since February. GoBank is a FDIC-insured operation that is based solely on a smartphone application. Currently available to iPhone users (with Android to follow shortly), customers can do everything from the app, including opening their account. With an ATM network over the 40,000 mark, GoBank offers customers with plenty of options to get cash and provides most conventional banking features as well as some new ones. Though it doesn’t look like GoBank will offer loans, the GreenDot may have options to expand into that segment later on.

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If you still like the ability to walk into a branch, don’t worry because they’re not completely irrelevant yet. But mobile and online banking are becoming bigger factors in the current banking environment. The banks that are able to produce apps and other modes of banking that meet customer demand will likely gain both customer loyalty as well as the ability to lure in new tech-savvy customers.

The article Mobile and Beyond: How Banks Are Catering to Tech-Savvy Customers originally appeared on Fool.com.

Fool contributor Jessica Alling has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Bank of America and BofI Holding.

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