Security and BYOD policy management key barriers to corporate mobile banking
05 December 2013 | 6423 views | 0
Corporate treasurers cite security challenges and bring-your-own-device business policies as the key obstacles to wider uptake of mobile banking platforms for treasury activities.
Of 135 finance and treasury professionals collared by Capital One at the annual Association for Finance Professionals (AFP) gathering, barely one-in-three used a corporate mobile banking platform.
Security challenges with sensitive corporate data was cited as the primary barrier to widespread adoption(66%), followed by obstacles for companies figuring out their BYOD policies (24%).
Capital One views the results as a positive, as many of those polled recognised the advantages afforded by mobile technology - representing a large untapped market opportunity for transaction banks.
"As treasury departments continue to innovate, tools and services that grant finance professionals mobility and agility will keep gaining traction," says Colleen Taylor, head of treasury management and enterprise payments at Capital One Bank. "The results of our survey confirm that treasurers recognise the opportunities to leverage mobile banking to complete their day-to-day tasks, and many plan to invest in new treasury tools over the next several months."
Fifty-eight percent of the sample noted that the primary benefit is the ability to make payments, transfers and wire approvals. It also found that access to account data and payment history were high on the benefits scale, but more complex processes, such as access to performance indicators (13%) and ability to decision positive pay items (four percent) trailed in interest.