JPMorgan Chase and Wells Fargo's Q1 earnings revealed a need to boost engagement among existing mobile users BIPrime:
when it counted 33.3 million active mobile users. But it's a deceleration from the 13% annual growth in active mobile customers in Q1 2018 when Chase counted 30.9 million users.
The story is the same with Wells Fargo — flat growth with the quarter before, but a slight dip from its growth rate a year ago. Wells Fargo's active digital customer base reached 29.8 million in, 23.3 million of whom use mobile banking.
. And the firm saw a 3% annual increase in overall digital customers, which is consistent with its results in Q1 2018. The firm attributed its growth in mobile customers to growth in its overall customer base and increased adoption.
With an established digital platform, Chase has turned its focus to its physical network. As growth in new users slows, Chase has emphasized its physical network, as branches typically drive account opening. During Q1 2019, Chase began
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