As businesses get mobile, banks offer apps just for them

Banks are meeting the needs of on-the-go business customers by providing business banking apps for their smartphones.

Last month, Santander Bank announced the launch of its business banking app, making it easier for commercial customers to make deposits, check balances and move funds on their mobile devices.

“We are investing more resources in our digital platform to accommodate the growing number of customers who prefer to do their banking online or on their mobile devices,” said Michael Clearly, head of consumer and business banking at Santander. “Our customers lead busy lives, and part of delivering a great customer experience includes giving them options.”

Banks say they recognize that mobility is not just a trend but a way of life. So, business banking apps are becoming necessary to appease the masses in this high-tech, mobile-friendly world.

Business banking apps provide features that allow businesses to deposit thousands of dollars in checks a day, make wire transfers, move funds from account to account and view all banking activity.

Santander, with U.S. operations based in Boston, said that its new app is specifically designed for business customers. The app is free and has no annual fee, and users can deposit $15,000 a day in checks through the remote capture feature. It can be downloaded from Google Play and the iTunes App Store.

John Hayes, senior vice president and chief lending officer at New Tripoli Bank in New Tripoli, said that about six months ago his community bank launched an app that business customers can download from the bank’s website.

“We are at a point where mobile apps are required and customers demand 24/7 service,” Hayes said. “They demand the same banking services they would get at any branch location. So it is most definitely a trend.”

The app gives businesses the opportunity to view account information, move money from account to account, set up wire transfers and take funds from their line of credit.

“The app is easy to navigate, and we have made it easy to download,” Hayes said, adding that the app is a great way for the bank to extend itself to those outside its market.