Delivering more mobile to HNW MyMerrill clients…on Android, and of course the iPhone and iPad too

Bank of America Merrill Lynch continues ‘edging’ out the other wirehouses in terms of its mobile technology offerings to investor clients (pun intended).
Specifically today though, it is Merrill Lynch Wealth Management (not Merrill’s Edge folks) that is announcing several new features for its mobile and online tools meant for high net worth clients.
The single most significant launch, in my opinion, is an Android version of the MyMerrill mobile application for smart phones. This catches up users of that operating system to their iPhone-toting brethren in terms of MyMerrill features (the iPhone version launched more than a year ago).
Both applications enable clients to view their accounts, track the markets and follow the financial news, as well as retrieve real-time quotes, transfer money, and other things.
Oh and you can pay bills and deposit checks (the latter was something requested frequently by folks on the iTunes App Store comments).
With the updated MyMerrill for iPhone app, clients can now deposit checks remotely into eligible Merrill Lynch investment accounts. Clients can now simply sign into the MyMerrill for iPhone, click on the check deposits feature, capture an image of the front and back of the check using their iPhone camera, and then click ‘submit’ to send the checks in for processing.
Users of the updated MyMerrill iPad application can use their ‘Bill Pay’ feature to do the same thing but with a twist.
“We use the video camera instead of the still camera feature on the iPad so that as the client moves the device over the check the application decides where to begin the capture [rather than the user] — we get a much higher capture rate than those that are relying on the still camera,” said Paul Fox in an interview.
He is head of Merrill Lynch Wealth Management Online Platforms.
Another difference with the iPad version of the application is that once clients are enrolled in the Bill Pay service on MyMerrill.com, they can pay their bills and view all payments on a consolidated calendar view.
“That is something a bit unique, we did not just want to create a larger version of the iPhone app, we wanted users to really be able to make the best use of the increased screen real estate,” he said.
Mr. Fox explained that the iPad application is more modular in terms of independent square interface windows with different purposes that clients can drag and drop and re-order on the screen and see news, for example, or recent transactions or the bill pay features — he added that the firm even has applied for a patent on its design.
I should add that Merrill Lynch financial advisers serving Wealth Management clients have the same capabilities to see and access their client’s accounts on the iPad as well, the idea being that they have better mobile access for collaborating with or serving their clients.
Oh and by the way these applications are not to be confused with the various Merrill Edge applications (the only one I am currently somewhat familiar with is the Merrill Edge for iPhone application) that are meant for Merrill’s self-directed and Merrill Edge Advisory Center clients.
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To get the Apple applications search for MyMerrill on your device of choice at the iTunes App Store
For more information visit Merrill Lynch Wealth Management online.

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