Mobile Logins at Bank of America Do NOT Outnumber Online Logins, After All

In a startling about face, Bank of America Corp. now says its mobile banking logins do not outnumber online banking logins.

Earlier this week at the Net Finance conference in Phoenix, Marc Warshawsky, a senior vice president at  Bank of America, in his keynote address, said mobile logins at the nation’s No. 2 bank by assets had for the first time exceeded online logins. The news was significant because it represented a milestone in customer behavior toward mobile banking from online banking.

But, alas, there seems to have been an error at BofA. It turns out the bank forecasts mobile logins outnumbering online logins in 18 to 24 months. That’s up to two years, folks!

A Bank of America spokeswoman told Bank Innovation that Warshawsky should have mentioned the timeframe for the change, but didn’t.

But we see the whoops at Bank of America as startling. We wonder whether this “mistake” perhaps has some bearing on the bank’s reporting apparatus or data on mobile and online banking. Let’s hope not.