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Corporate Banking by Smartphone – Can Your CFO Work From the Road … or His Child’s Soccer Game?

PROVIDENCE, R.I. Feb. 9, 2011 A corporate treasurer complains about missing his eight-year-old daughter’s soccer match because he had to transfer funds between two subsidiaries and could only complete the transaction from his computer. Sound familiar?

"Corporate treasurers have long been tethered to their office computers when making financial transactions, but we are fortunately seeing the beginning of the end of this ‘leash,’" Prabhat Vira

"After years of reluctance, companies are now adopting the same kind of mobile technology that individuals have long been using in their personal accounts. The tide is turning toward an embrace of these enhanced platforms – corporate mobile banking is a revolution in the making."

"In fact," says Mr. Vira, "we will see a transformation in how corporations make purchases and bill for their products and services throughout the economy."

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"We discovered some clear trends in how companies think about mobile banking and what it can do for their business," says Mr. Vira. These include:

  • Security remains a primary concern.

  • CFOs/treasurers want same conveniences they have in their personal lives.

  • Small and mid-sized businesses are early adopters.

"Mobile banking was developed for companies to use as a tool of efficiency and flexibility for their senior-most executives, who are more mobile than ever. This ability helps to add competitive advantage and creates better relationships with clients and vendors.

Prabhat Vira Trang Mar [email protected]

About Citizens Financial Group, Inc.

$140 billion Providence, R.I. Pennsylvania Connecticut Delaware Massachusetts New Hampshire New Jersey New York Pennsylvania Rhode Island Vermont Illinois Michigan Ohio

SOURCE Citizens Financial Group, Inc.

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