Merrill Lynch Wealth Management is expanding the range of online services it offers clients on a number of portable devices.
The bank is launching its first Android application, as well as adding features to its iPhone and iPad services.
Users of Android 2.2 operating systems or higher will be able to securely view their accounts, follow the markets, retrieve real-time quotes and transfer money among other features.
On iPhones with operating systems of 4.0 or higher clients can now deposit cheques remotely into eligible Merrill Lynch investment accounts.
They can use the phone’s built-in camera to capture an image of the front and back of the cheques, and submit the checks for processing.
Meanwhile iPad users have gained a simplified way to pay their bills through their tablets.
Paul Fox, head of Merrill Lynch Wealth Management online platforms, said: “The convenience and speed of mobile access is becoming more important over time – especially for clients who have multiple account types with our financial advisers.”
Industry slow to react
Separately, a MyPrivateBanking analysis of the mobile apps offered by the world’s 50 top banks shows they have failed to keep pace with clients’ expectations.
Only the most basic functions such as an account overview and a Branch or ATM finder are offered by more than 80% of the banks.
Securities brokerage is offered by only 40% of the banks and direct contact to a financial adviser is offered by only 36%.
The survey also found shortcomings in the security features of apps, with only 30% including appropriate features.
Few banks had integrated their services with social media sites such as Facebook or Twitter, the research said.