PROVIDENCE – Innovations in technology are driving corporate mobile banking, giving rise to new expectations and services from financial institutions, according to a press release from a Citizens Bank unit.
“This evolution is being propelled by the phenomenal growth in personal smartphone useage. Our clients now want to take the convenience and mobility they have with their personal smartphone into the workplace,” James Gifas, head of RBS Citizens Treasury Solutions, said at an industry forum in San Francisco.
“In the next phase of corporate mobile banking, we will be seeing a shift from being information-oriented to being action-oriented,” said Gifas. “We’re moving from account snapshots to being able to initiate payments and approve wire transfers.”
Companies will transact more than $300 billion over mobile devices this year, he said.