Mobile business banking applications: new and improved from Alaska financial institutions.

AuthorBarbour, Tracy
PositionFINANCIAL SERVICES

As the use of mobile devices steadily increases, Alaska's financial institutions are releasing new or upgraded mobile apps to make it easier for business customers to manage their accounts remotely. And some banks and credit unions are adding features to their existing online banking system to expand capabilities.

KeyBank Invests in Mobile Banking

KeyBank is a prime example. Clients can access the recently enhanced Key Total Treasury solution with a smartphone, tablet, or other mobile device to review their account information, search transactions, perform account transfers, and make administrative updates. They can also approve pending payments for wire and automated clearing house transactions and use Positive Pay to limit payment on suspect checks.

Over the next twelve to eighteen months, Key Total Treasury will be offering customers even more cash management functions, such as commercial mobile remote deposit capture (to allow digital check deposits), expanded corporate card administrative functions, and additional foreign exchange capabilities.

"Workers are very mobile; their office is anywhere they are," says Jordan Olack, KeyBank's Cleveland-based enterprise commercial payments product manager. "Getting access to information from the device that's right next to them is critical." KeyBank's investment in mobile business banking is, in part, being driven by the "consumerization effect," Olack says. Corporate workers--who are consumers at heart--are increasingly requesting mobile access to their account.

Brian Nerland, president of KeyBank's Alaska District, has a similar perspective. "Business professionals in Alaska who enjoy the convenience and functionality of using mobile devices to manage their personal finances are coming to expect that same level of service for managing their company finances," Nerland says.

Olack says Key Total Treasury is extremely safe to use because the customer's confidential information is masked within the app. Plus, the mobile banking app has multiple layers of security and a built-in "kill switch" for emergencies. "If someone feels their phone has been compromised, we can disable the service from functioning on that device," he explains.

Wells Fargo Optimizes Applications

Technology has changed dramatically since Wells Fargo released its Commercial Electronic Office portal fifteen years ago. Last year, the bank launched a global banking portal--Commercial Electronic Office Mobile--that grants access to...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT