Facial and fingerprint recognition are a few of the benefits that organizations will now be offered through the Bank of America Merill Lynch (BofA) CashPro Mobile updates.
With personal mobile banking expectations being carried through into organizational platforms, financial institutions are now able to offer similar experiences. The platform allows corporate treasurers to use the mobile banking application anywhere, claims BofA.
“Mobile’s ease of use and security features make it the ideal channel for corporate treasurers to access their cash and treasury information on a 24/7 basis,” commented Tom Durkin, head of global digital channels in GTS, BofA Merril.
The authentication has been enhanced through a secure biometric facial/fingerprint recognition. The argued benefits are to provide stronger security and an easier application.
Past annoyances for financial executives have included only being able to access their mobile banking platform if they are carrying physical tokens. This has been even more prevalent due to the contrasting ease of conducting similar tasks on personal mobiles for banking.
“Many factors are at play in the growth of mobile adoption and the demand for more robust features in mobile apps,” said Hupert J.P Jolly, head of financing and channels, BofA Merill.
“Top among them is the expectation treasurers bring from conducting mobile banking for their personal finances. The new features on CashPro Mobile allow corporate treasurers to conduct their business banking anywhere, anytime, in a more secure, more simplified way.”