Bank of America reported a 4.8 percent increase in mobile customers from the fourth quarter of 2015, rising to 19.6 million users in the first quarter of this year. Paul Donofrio, the bank's chief financial officer, said it was the most new users added in any quarter over the last three years. In JPMorgan Chase's earnings report last week, the bank revealed a 19 percent increase in mobile consumers year over year, growing to 23.8 million.
As banks add mobile users, making acquisitions of technology may be losing its shine. Less than 18 percent of respondents to Capgemini's retail banking executive survey said they aimed to acquire fintech firms or technology.
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"Most have come to the conclusion that they're not worth buying," said Bill Sullivan, head of global financial services market intelligence at Capgemini. "There are not many fintechs out there looking to replace banks."
But it remains to be seen how long big banks can keep up with the digital revolution. The Capgemini-Efma survey said less than 13 percent of the bank executives interviewed said their core systems will support a broader digital ecosystem in the long run.