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Mobile Banking for Corporates Could Gain Momentum

More banks plan to roll out products this year, but security remains a concern.

More banks plan to launch mobile banking products for their corporate customers this year, but it still may take time for treasury customers to warm up to the mobile apps.

A couple of surveys conducted at the Association for Financial Professionals’ annual meeting in Las Vegas last October suggest that only a minority of treasury professionals currently use smartphones or tablets to handle banking chores. A Capital One survey showed 32% of finance and treasury professionals attending the AFP meeting used a corporate mobile banking product, while a survey by ACI put the portion of finance workers using mobile banking at 27%.

The low level of use in part reflects a lack of availability. “There have been very few banks offering this to their middle market or corporate customers,” said Christine Barry, research director at technology consulting company Aite Group.

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