Financial corporation BB&T’s new mobile application CashManager OnLine for commercial and corporate clients will enable them to work outside their offices and lend more flexibility for managing accounts while on the go.

As financial professionals are increasingly conducting business on their mobile devices, BB&T wanted to provide an adaptable solution for their own clients. As mobile technology allows the working class elasticity no matter their location, banking institutions are seeing possibilities outside personal banking needs.

“In short, the rapidly changing needs, behaviors and expectations of our clients led to this execution,” said David White, vice president of corporate communications at BB&T, Winston-Salem, NC. “Treasurers, CFOs, and other financial professionals expect to be able to conduct business easily without being tied to their office or a PC.

“At BB&T, client relationships are paramount and we are constantly seeking feedback,” he said. “Our clients now use smartphones for so many of their personal needs, financial and otherwise.

“More and more they ask, ‘Shouldn’t I be able to manage my business finances in the same way – with the same convenience and flexibility?’ We believe the answer to that question is ‘Yes’, and our new app is a big step in that direction.”

Spread of mobile
Downloadable on iOS and Android devices, the app lends mobile access to critical financial transactions and information. Clients can now easily handle high-value Treasury Management activities directly from their phones.

Also through the app, clients can approve pending wire transfers, transfer funds between other BB&T accounts, review summary and detailed transaction information, receive notifications when approvals are needed and perform administrative functions.

CashManager OnLine is also an established online banking service that provides in-depth account information and transaction capabilities by providing real-time access to BB&T’s Treasury Management services. BB&T believes its online solution helps organizations maximize the potential of their working capital by keeping in touch with ever-changing and time-critical information.

“Since consumers are using mobile in their personal lives so frequently, they are also beginning to expect it in their corporate lives,” said Christine Barry, research director at Aite Group, Houston. “There is now a greater demand for these capabilities.

Company administrators automatically have access to the CashManager OnLine mobile app and must update entitlements for other users to be granted access.

BB&T believes its solution is secure and promises account information will remain protected when using the app. The app also follows the security setting that users have set on the desktop version to ensure a seamless workflow.

Mobile history
In 2013, BB&T Bank released a mobile video game application to aid the company’s community service efforts in sharing its leadership model with the world.

The game, “Legacy: A BB&T Leadership Challenge,” took the user through challenges in the setting of the Middle Ages and embedded options in the game that helped to develop leadership skills. BB&T has been teaching its financial literacy to high school and college students for a while now, but the bank decided to roll out the mobile game at the time so that it could offer its leadership-training program to a wider audience (see story).

BB&T launched its first Android app in 2011.

The app was for both smartphones and tablets that ran on the operating system, allowing users to bank anytime, anywhere.

Android users could check account balances and transactions, transfer funds, pay bills and locate the nearest BB&T financial center or ATM using GPS technology. BlackBerry and iPhone apps were released in 2010 (see story).

BB&T’s new solution will likely be appreciated by its customers.

“Even if some customers aren’t ready to use it, they still expect it to be an option available from their banks,” she said. “Specifically, the ability to approve payments is what is driving mobile adoption.”

Final Take
Caitlyn Bohannon is an editorial assistant on Mobile Commerce Daily, New York