Bank of America has over a million small businesses using mobile banking

21 August 2013

Bank of America has announced it has surpassed one million small business mobile users.

The institution uses the platform to provide companies with the convenience and flexibility of managing their finances while on the go.

It stated the growing need for flexibility in banking activities in small businesses is driving the market forwards.

The mobile application works on smartphone and tablet devices and includes capabilities for checking balances, transferring funds between accounts for payroll or supplier payments and tracking transactions and payments from suppliers.

It also includes remote deposit capture and alerts to give customers real-time updates on their account activity.

Overall the bank services more than three million small business clients and was recently named the best in the Small Business Online Banking by Keynote Systems' 2013 Small Business Scorecard.

Mary Bintz, small business sales executive at Bank of America, said: "Today’s small business owners aren’t behind desks all day … They are in their cars and trucks, on factory floors, shopping for supplies and visiting clients on-site."

By Gary Cooper

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