CFOs embrace benefits of mobile banking world

HONG KONG — Chief Financial Officers and Treasurers are increasingly willing to go mobile in their professional lives, discarding decades-old methods of transferring funds —such as banker’s drafts and cheques — in favour of payments executed on smartphones and tablets. Corporate customers have used HSBC’s mobile corporate banking platform, HSBCnet Mobile, to make a staggering US$50 billion in payments.
Since the launch of the first mobile banking app, banks have primarily invested in mobile innovations focussed on retail banking customers. HSBC says the process of checking a balance or transferring cash has become increasingly intuitive — in some instances, another person’s mobile number is all that is needed to make a payment.