Banks Freed From Branches Use Mobile Apps to Go After Customers
- U.S. Bancorp, JPMorgan among firms with mobile-only offerings
- Lenders are no longer bound by geography, an executive says
A customer enters a US Bancorp branch in downtown Chicago.
Photographer: Christopher Dilts/BloombergThis article is for subscribers only.
Banks are going even more mobile.
U.S. Bancorp this week was the latest to say it will build a nationally available checking-account product as lenders introduce mobile offerings that let consumers do their full banking without a branch. The move follows similar announcements by some of the country’s largest banks including JPMorgan Chase & Co., Citigroup Inc. and PNC Financial Services Group Inc.