Bank of America Merrill Lynch has added biometric security to its CashPro mobile banking platform, as well as an embedded token to enable secure access and payment approvals.

The platform has more than 475,000 active users among the bank’s commercial, large corporate and business banking clients. The mobile app’s popularity is growing, with more than 28,000 payment approvals made via CashPro Mobile in the first quarter of 2018 – a jump of 188 per cent from the same period in 2017.

“Many factors are at play in the growth of mobile adoption and the demand for more robust features in mobile apps,” explained Hubert Jolly, head of financing and channels for Global Transaction Services at BofA Merrill.

“Top among them is the expectation treasurers bring from conducting mobile banking for their personal finances,” he continued. “The new features on CashPro Mobile allow corporate treasurers to conduct their business banking anywhere, anytime, in a secure, more simplified way.”

With the new token feature, users no longer have to jump between the mobile app or token app or carry their physical token. The secure biometric authentication through fingerprint or facial recognition offers a simplified sign-on experience, providing stronger security than passwords provide.

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