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3 Key Benefits of Business Mobile Banking

Posted by Sara Morrow on Friday, April 12, 2019

Updated: July 2022

There are a lot of digital tools available to small business owners. This article shares three key benefits of using a business mobile banking app.

Woman Discovers The Advantages Of Small Business Mobile Banking

Mobile Banking Introduction

We do everything on our smart phone. We connect with friends and family, shop, check email, listen to music, and decide where to eat dinner. It's no surprise that many of us also rely on our smart phone to manage our finances.

There are a lot of financial digital tools available to small business owners. And over the last five to six years business mobile banking has gone from being a new technology that business owners were hesitant to adopt to a digital service that owners expect from their bank.

Three key benefits of mobile banking for businesses

There are many benefits of using a business mobile banking app to manage your finances. Three of which are convenience, customization and security.

Benefit #1 of Mobile Banking. Convenience

One of the biggest benefits of mobile banking is the convenience it provides. You can view account balances and transfer money between business accounts in a matter of minutes. Using business mobile banking to deposit checks eliminates the need to drive to the bank to make deposits, saving yourself — or one of your employees — valuable time and money. You can also approve transactions including ACH transfers for payroll, payments and receivables and wire transactions directly from your phone. This feature is extremely beneficial for business owners who travel frequently or don’t spend a lot of time in front of a computer.

Man Discovers The Advantages Of Small Business Mobile Banking

Benefit #2 of Mobile Banking. Customization

Many mobile banking apps are customizable, which is a great benefit for small business owners who are busy managing other areas of their business. With mobile banking, you can customize the level of access and control an employee has. For example, you can allow an employee to deposit checks on their smart phone without giving them access to view account numbers and balances or other sensitive data.

Benefit #3 of Mobile Banking. Security

Mobile banking apps provide multiple levels of security in order to keep your business account secure. We recommend all of our business mobile banking customers use secondary approval and token access in order to protect their business from fraudulent or unauthorized transactions. We also provide our small business customers added protection from check and ACH fraud through Positive Pay.

Woman Discovers The Advantages Of Small Business Mobile Banking

You can also reduce the risk of a security breach by making sure you are connected to a secure wi-fi account when conducting business through your mobile app. Connecting to public wi-fi while you are at a large event or conference to check your balances or make a transfer puts you at higher risk for having your business account compromised.

Business Mobile Banking Tools

Business mobile banking is a tool that allows business owners to manage their finances faster and more efficiently.

If you’re considering using business mobile banking, visit with one of our commercial banking experts to learn more about how our services and mobile banking features can benefit your business.

Small Business Financing for the Next Step

You’ve worked hard to build your business. Now make sure it continues to thrive. Local businesses are vital to the community, which is why helping yours grow is our priority.

Talk to a Business Banker Today                                                                                       

The Author

Sara Morrow

Sara Morrow

Loan Portfolio Manager

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