August 20, 2013

More than one million Bank of America small business clients are now using mobile banking, according to a statement today by the bank.

The milestone in adoption can be credited to the flexibility that mobile banking affords small business owners, Mary Bintz, a small business sales executive said in the statement. “Today’s small business owners… are in their cars and trucks, on factory floors, shopping for supplies and visiting clients on-site.”

BAnk of America’s mobile app, which works on smartphones and tablets, includes capabilities for checking balances, transferring funds between accounts for payroll or supplier payments and tracking transactions and payments from suppliers. The app also includes remote deposit capture and alerts that give customers real-time updates on account activity, low balances and upcoming due bills.

[See Related: Is Mobile Banking Ready For Business?]

“The number of small businesses now using Bank of America’s mobile app is a testament to today’s growing demand for better integration of technology and greater online, mobile and self-service banking options,” Bintz added.

Overall the bank services more than 3 million small business customers, the statement said, and recently ranked no. 1 in the Small Business Online Banking by Keynote Systems’ 2013 Small Business Scorecard.

Jonathan Camhi is a graduate of the City University of New York's Graduate School of Journalism, where he focused on international reporting and interned at the Hindustan Times in Delhi, ...