M&T Bank (Buffalo, N.Y., $78 billion in assets) announced today it has introduced a mobile banking app for its business customers.
The app will allow the bank's business customers to pay bills, view account histories and transaction details, check current balances and perform funds transfers.
"This new mobile banking service is another way that M&T Bank makes it easier for our business customers to manage their finances successfully, freeing up time to focus on growing their businesses," said Janet Coletti, senior vice president for business banking at M&T Bank, in a statement.
The bank, citing a Forrester Research study, said the new app comes at a time when small businesses are increasingly using mobile banking services. According to the 2010 study, an estimated 49 percent of small business owners were smartphone users, while only 17 percent of Americans reported owning a smartphone.
M&T's mobile banking services for its retail customers has been available for two years.