B2B Payments

Treasurers’ Appetite For Mobile Tools Grows, Finds Capital One

The latest survey by Capital One suggests treasurers still have an appetite for new tools and technologies.

Capital One’s Treasury Management Services published its latest survey at the Association of Financial Professionals’ annual conference, held last month. This year, Capital One researchers found that treasurers are especially interested in mobile banking capabilities as they seek new tools for their profession.

Two-thirds of survey respondents said they are interested in mobile banking solutions in the coming year, while more than a third (38 percent) said that already, everyone in their treasury department is able to complete tasks from their mobile devices on a regular basis — a 15 percent jump from the 2016 survey.

When seeking new tools, 35 percent said they seek mobile and web access capabilities; 34 percent cited the desire for fast and simple online account opening; 21 percent said they want access to all treasury and banking data in a centralized location and 10 percent said they seek convenient digital payment collection capabilities.

Overall, the survey found most (53 percent) said they plan to integrate new treasury management tools in the coming year, and nearly half (46 percent) said innovation is their top priority when choosing a treasury technology provider, followed by cost-effectiveness.

Other findings of the survey include an emphasis on cybersecurity, with 78 percent of survey respondents reporting their organizations having already implemented new security measures in the last year in response to rising cybersecurity threats.

“Technology and innovation are at the forefront of our practice as we continue  to grow mobile banking product services,” said Capital One Head of Commercial Card Product Strategy Rajsaday Dutt in a statement. “At a time when we’re seeing mobile adoption continuing to gain traction, we hold ourselves to the highest standards to deliver an unparalleled customer experience.”

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