Mobile Banking Helps Businesses On The Go
Americans love the power and convenience that smartphones have added to our lives as evidenced by the explosive growth of these devices. ComScore, a media measurement data firm, reports that at the close of 2016, 81% of mobile users were enjoying the benefits of smartphones, up from just 6% a decade earlier.
Business owners also are rapidly adopting smartphone capabilities. A July 2015 study from the online marketing directory services provider, Manta, notes that 80.5% of small business owners used their mobile devices for business-related purposes once a day or more, while almost 26% used them once an hour. Among the leading uses for these business owners: more than half are checking messages and communicating with customers, one-third are managing to-do lists and participating in social media, and nearly a quarter are banking.
The Mobile Banking Boom
As technology advances, businesses are using mobile banking services in increasing numbers. In July and August of 2016, market surveys from Aite Group and Raddon Financial noted that up to 68% of small businesses are taking advantage of mobile banking services with the expectation of gaining operating efficiencies and increased sales.
On the consumer banking side, a Federal Reserve report published in March 2016 found that 53% of smartphone owners used a mobile banking app, up from 43% as of 2011. Checking account balances was the most popular activity (94% of mobile banking users) while 47% paid a bill via their smartphones. A similar J.D. Power study (April 2016) noted that 42% of mobile banking customers appreciate the ability to receive alerts while slightly more than half were inclined to take advantage of special offers presented via their mobile device.
How Mobile Banking Helps Businesses Move Quickly
For businesses on the go, mobile banking has become a way to both save time and money. Eighty percent of business mobile banking users cite efficiency as a primary motivator. When daily banking functions like checking balances, verifying transactions, transferring funds from one account to another and paying bills are available at one’s fingertips, business decisions can advance rapidly. A lunchtime sales negotiation starts from a place of knowledge while an end-of-day check-in confirms that money has moved in the right direction. Using a mobile banking application can even help you locate or contact a branch office more quickly, especially when and where reception or Wi-Fi connectivity is an issue.
Security in Mobile Banking
Mobile banking security is top of mind for leading business banks. As a result, mobile banking users can be assured that top-performing business banks deploy strong encryption, multiple layers of authentication and other constantly evolving security techniques. At the same time, mobile banking applications don’t store critical account information on devices, which also offers peace of mind. Additionally, many banks are doubling down on educating customers about how best to protect themselves while enjoying the benefits of mobile banking.
Empowered Against Fraud
Overall, using mobile banking services empowers businesses to catch fraud more quickly based on the ease of checking account statuses and the ability to set up alerts and other notices. In effect, you become your own best, first-line defense against unauthorized activity.
Mobile Banking Made for You
If you’re looking to add mobile banking to your arsenal of business productivity tools, the Western Alliance Business Mobile Banking app will give you convenient access (day or night) to the financial information you need the most. You can download the app for free from the iTunes store or Google Play Store and find easy-to-use information on how to get started immediately.
With more than $20 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies and is ranked #2 on the Forbes 2018 “Best Banks in America” list. Its primary subsidiary, Western Alliance Bank, is the go-to bank for business and succeeds with local teams of experienced bankers who deliver superior service and a full spectrum of deposit, lending, treasury management, international banking and online banking products and services. Western Alliance Bank operates full-service banking divisions: Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank. The bank also serves business customers through a robust national platform of specialized financial services including Corporate Finance, Equity Fund Resources, Hotel Franchise Finance, Life Sciences Group, Mortgage Warehouse Lending, Public and Nonprofit Finance, Renewable Resource Group, Resort Finance, Technology Finance and Alliance Association Bank.
Recent NewsBridge Bank and Tree Line Capital Partners Provide Senior Debt Financing to Support the Recapitalization of Goettl Air Conditioning by Baum Capital PartnersBridge Bank Welcomes Eric Sockol as Senior Vice President, Business Development OfficerBridge Bank Provides Senior Debt Financing to Support the Leveraged Buyout of Trade Supplies, LLC by Sole Source CapitalBridge Bank Welcomes Bob Curley as Chief Credit OfficerBridge Bank Upsizes Capstone Turbine Facility to $15 Million
Recent InsightsDon't Get Hooked: How to Spot a Phishing EmailThe Biggest Trends in Hotel Franchising - 2017 EditionThe Key to Wire Fraud Prevention: Out-of-Band AuthenticationMobile Banking Helps Businesses On The GoConsider the Business Benefits of Payroll Cards — and Keep Employees Happy
We understand that no two businesses are exactly alike. That's why Western Alliance bankers tap a sophisticated sui… twitter.com/i/web/status/1… - yesterdayAll of us at Bridge Bank wish the @SanJoseSharks a great preseason game tonight against the Anaheim Ducks!Your friends at Bridge Bank wish everyone a safe and wonderful #LaborDay! REMINDER: In observance of the holiday,… twitter.com/i/web/status/1… - 2 weeks 6 days agoOur #LifeSciences team is delighted to share its most recent transaction with @OmniGuide, a manufacturer of advance… twitter.com/i/web/status/1… - 3 weeks 2 days agoBridge Bank is a proud sponsor of the @EastBayHaasAlum. Tonight they host their Annual Party welcoming new… twitter.com/i/web/status/1… - 4 weeks 1 day ago"We know our clients and this market, and what's motivating this management team to innovate and persevere just add… twitter.com/i/web/status/1… - about 1 month 6 days agoWe are proud to support @Rhythmix1 as a sponsor of their Pour Your heART Out Benefit for the Arts Celebration takin… twitter.com/i/web/status/1… - about 1 month 1 week agoMarkets look to remaining monthly data amidst trade disputes. westernalliancebancorporation.com/bridge-bank-ho… - about 1 month 2 weeks agoWe are proud to sponsor the @LosAltosChamber 29th Annual Golf Tournament today. We hope all of the golfers particip… twitter.com/i/web/status/1… - about 1 month 2 weeks agoLifting up our communities is important to the people of Western Alliance. We live this value in many ways, startin… twitter.com/i/web/status/1… - about 1 month 2 weeks agoStarting from scratch in 2006, @RevolutionFoods has grown to now serve two million healthy meals per week in 1,000+… twitter.com/i/web/status/1… - about 1 month 3 weeks ago"Revolution Foods is a perfect example of a client that came to us early in the company's life cycle, and we have c… twitter.com/i/web/status/1… - about 1 month 3 weeks agoTomorrow night, Dale Marie Golden of @bridgebank will be speaking at the Oakland Empowerment Scholarship & Mentorin… twitter.com/i/web/status/1… - about 2 months 3 days agoOur #LifeSciences group recently helped @RareCyte, a #biotechnology company working to advance the boundaries of bi… twitter.com/i/web/status/1… - about 2 months 4 days agoBridge Bank is a division of Western Alliance Bank. Western Alliance was named #2 on the Forbes 2018 Best Banks in… twitter.com/i/web/status/1… - about 2 months 5 days agoBridge Bank is excited to be sponsoring the return of #PACTcapcon on Sept 26! twitter.com/PhilaPACT/stat… - about 2 months 6 days agoOur #LifeSciences Group is pleased to announce their recently funded deal with @abscibio, a #biomanufacturing compa… twitter.com/i/web/status/1… - about 2 months 2 weeks agoHappy birthday, #America! Your friends at Bridge Bank wish everyone a safe and joyous celebration! REMINDER: In o… twitter.com/i/web/status/1… - about 2 months 2 weeks agoOur #LifeSciences Group is pleased to announce their latest deal with @ardelyx, a #biotechnology company committed… twitter.com/i/web/status/1… - about 2 months 3 weeks ago#Dollar rallies to 11 month highs on rising interest rates and #EconomicGrowth westernalliancebancorporation.com/bridge-bank-ho… - about 3 months 1 day agoOur #LifeSciences Group is excited to announce their most recent transaction with @ARTASHair, offering the first an… twitter.com/i/web/status/1… - about 3 months 2 days agoDid you know? Bernard J. Cigrand is considered to be the “Father of Flag Day.” In 1885, he organized a group of sch… twitter.com/i/web/status/1… - about 3 months 1 week agoOur #LifeSciences Group is pleased to announce their most recent transaction with @Zipline_Medical a technology com… twitter.com/i/web/status/1… - about 3 months 1 week agoDue to the close proximity of the Golden State Warriors Championship Parade and activities, our Oakland branch will… twitter.com/i/web/status/1… - about 3 months 1 week agoCongratulations to the @warriors on their back-to-back championship! Our employees in Oakland are very excited that… twitter.com/i/web/status/1… - about 3 months 1 week agoWe were proud to sponsor last night’s SPUR event at San Pedro Market in downtown San Jose. You can learn more about… twitter.com/i/web/status/1… - about 3 months 2 weeks agoAs presenting sponsor of the 8th Annual #sjsueconsummit we want to extend our gratitude and many #thanks to those w… twitter.com/i/web/status/1… - about 3 months 3 weeks agoAre you wondering how the #economy can be as #healthy as ever if a lack of #housing is the #1 concern? You’re not a… twitter.com/i/web/status/1… - about 3 months 3 weeks agoOn May 31, Dr. Christopher Thornberg, founder of Beacon Economics, will be at #sjsueconsummit providing an analysis… twitter.com/i/web/status/1… - about 3 months 3 weeks agoCalifornia is now the 5th largest economy in the world, surpassing the UK. On 5/31, Dr. Thornberg, founder of Beaco… twitter.com/i/web/status/1… - about 3 months 4 weeks agoThis #MemorialDay, we honor those who lost their lives to give us #freedom. pic.twitter.com/lKEzeg9YarHave you ever been in a car with a driver who has one foot on the accelerator and the other on the brakes? On 5/31,… twitter.com/i/web/status/9… - about 4 months agoWe are a proud sponsor of the 19th Annual B. Riley FBR #InstitutionalInvestorConference, taking place May 23 - 24,… twitter.com/i/web/status/9… - about 4 months agoOur Life Sciences Group is excited to announce Alastin Skincare, an innovative skincare company that has designed a… twitter.com/i/web/status/9… - about 4 months 2 days ago