Biometric technology – including the facial recognition capabilities within Bank of America’s latest features– also addresses the friction linked to physical tokens. However, adoption is not guaranteed – at least, not right away, as treasurers take their time being acclimated to new technologies.
Another factor that could slow adoption of biometrics in mobile corporate banking is the fact that companies have to build security policies that support and complement the technology – particularly as it relates to BYOD, access control and tiered access decisions.
As treasurers continue to rely on mobile devices for banking and transacting, Tom Durkin, Bank of America‘s head of digital channels, said that the bank would focus on promoting digitization for corporate customers and embedding new functionalities into the mobile screen.
Click-to-accept capabilities in the mobile device, as well as document scanning and uploading, are additional features that BoA will explore for corporate clients in the coming months.
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