BofA digital engagement surges: The US-based bank disclosed that users are turning to digital channels more frequently, even as adoption slows. With adoption now approaching saturation, engagement will become the next frontier for banks.

Bank of America’s digital channels and technologies such as Erica saw a significant rise in customer usage in Q1 2021—and the bank could augment the heightened interaction by providing more access to human representatives.

This annual scorecard, weighted based on responses to a consumer survey, ranks the 25 largest US financial institutions by assets by their mobile banking capabilities. The report presents detailed benchmarking data on the availability of 42 mobile features, selected by analysts based on the features’ propensity to help financial institutions differentiate themselves from competitors.