The US banking giant said it has logged a 25 per cent increase in mobile adoption among its clients from 2015 to 2016.

Merrill Lynch Wealth Management has given its mobile app a makeover in recognition that clients are increasingly embracing technology, and have come to expect top-tier digital services from their financial providers.

Users can now make wire transfers from mobile devices, while the US banking giant’s client website now enables e-signatures and includes My Financial Picture, a “pre-client online experience” asset aggregation tool.

Other improvements include: a customizable dashboard; interactive charts with heat maps to help clients interpret the markets; and contextual help features based on where users are in the app.

Available on both iPhone and Android devices, the improvements build on capabilities introduced late last year, including fingerprint authentication and one-time passwords.

Existing mobile features include bill pay, mobile check deposits and money transfers, and other wealth management services such as portfolio overview and alerts.

According to MyPrivateBanking, the Swiss firm, the number of wealth managers that provide a mobile app exclusively for high net worth clients rose considerably between 2015 and 2016, although certain teething problems persist. Read the full article here.