The number of business clients using QR sign-in to access the bank’s digital banking platform, CashPro, increased by 60% in 2024, Bank of America said in a Tuesday (May 20) press release emailed to PYMNTS. QR sign-in was introduced in 2022.
“Nearly every business client uses CashPro as the front door through which they view and take action on their Bank of America accounts,” Jennifer Sanctis, head of CashPro App and Personalized Technologies in Global Payments Solutions at Bank of America, said in the release. “QR sign-in makes that entry point even more secure and further enhances the client experience.”
More than 40,000 business clients around the world use CashPro to manage their treasury, trade and credit operations and perform self-service requests, according to the release.
With QR sign-in, they can sign in by using their mobile phone to scan the QR code that appears on the computer screen and sign in using biometrics, per the release. Clients with multifactor authentication can use the CashPro App to access a mobile token that is integrated into the sign-in flow.
Because this sign-in experience does not require users to remember the CashPro password and does not require them to carry a physical token, it eliminates two key pain points associated with traditional login processes, the release said.
One client who uses Bank of America’s QR sign-in, Karen Davis, head of treasury and trade finance for oil and gas at Glencore, said in the release that the process makes it easy to sign into CashPro.
“I use the mobile token security that’s built into the process too, so I don’t need to worry about carrying around a physical token,” Davis said.
Digital treasury solutions like CashPro offer an effective mix of convenience, control and security, Sanctis told PYMNTS in an interview posted in December.
“Treasurers want more convenience and access at their fingertips,” Sanctis said. “Regardless of what our clients are needing to do, the app approval experience has been instrumental in giving them that extra peace of mind.”
