Corporate treasurers are willing to consider paying for the convenience of mobile banking, new research finds.
A report from advisory firm Aite Group finds that, while treasurers have concerns over the security of mobile banking, these are outweighed by the benefits of using the technology.
According to Mobile Banking: The Corporate Treasurer’s Perspective, customer demand for mobile access is such that banks should look to improve their offerings in this area and consider charging for them. A fee could perhaps be included as an additional line item within the company’s monthly online banking fees.
The study also advised banks to educate their corporate customers on the security precautions being taken with mobile technology and focus greater attention on marketing convenience and functionality.
It also suggested that banks consider a ‘multi-device’ strategy for corporate treasurers, enabling them to include their own devices in the mix.
Christine Barry, research director in wholesale banking at Aite Group, said: “As corporate treasurers grow more comfortable with the mobile channel, their desire to perform more sophisticated capabilities will also increase. While most vendors were fast to address payment-approval requirements, they have been slower to recognise end-user interest in administrative capabilities.”
Sally Percy is editor of The Treasurer