Best Business Banking Apps
Despite security warnings and apprehension, the mobile banking industry is continuously growing not only out of convenience, but also because no one in corporate America exists without a smartphone attached to their ear. Not only are business people relying on and adapting to the simplicity in mobile banking, but younger generations are also using their phones complete transactions and avoid actually walking into a traditional bank.
Here is a guide to the best free mobile banking apps for smartphones.
Bank of America
Bank of America’s Mobile Banking app is available to all customers who are enrolled in Bank of America’s Online Banking feature. Users can view account balances, credit card details, and transaction history, along with transfer funds to other Bank of America accounts and pay bills. Information about nearby locations are also at your fingertips, if needed, using geo-location capabilities. Since the app is custom designed to each device, the user interface matches your phone’s features and makes for an aesthetically pleasing experience.
The app also offers protection against fraudulent activity with their $0 Liability Online Banking Guarantee, so if you ever find yourself victim, professionals are able to ensure mobile banking safety. Additionally, the app features advanced encryption technology so that unwanted users don’t have access to your personal information.
(Available on the iPad, iPhone, iPod Touch, BlackBerry, Android smartphones, and Palm Pre.)
Chase’s Mobile app is available to all customers who are enrolled in Chase Online. Users can view account balances, review transaction history, view check credit card due dates, pay bills, schedule payments though online Bill Pay, transfer money between Chase users, and wire money to other accounts. If you ever find yourself in an unfamiliar area and in need of some cash, the app offers a “Find ATM/Branch” feature using your GPS location, along with a “Contact Us” feature to get access to the bank’s help lines.
Chase Quick Deposit allows bankers to take a photo of the front and bank of an endorsed check to deposit checks anytime and from anywhere. Users also get immediate confirmation that images have successfully uploaded, meaning that you may never need to drive to a brick and mortar bank ever again to make a deposit.
(Available on the iPad, iPhone, iPod Touch, Android smartphones and BlackBerry.)
Citibank offers three separate Citi Mobile apps for members to make any transfers or view account balances, wire money to others and between your own accounts, track credit card rewards, and track Citibank credit card accounts. For those of you who need some extra help, reminders can be set up to be alerted when your account balance goes below a certain amount, when deposits are made, when bills are due, and when Certificates of Deposits mature. You can also schedule credit card payments in advance.
(Available on the iPad, iPhone, iPod Touch, Palm smartphones, Android devices and BlackBerry.)
Wells Fargo’s Mobile app allows members to check available balances, credit card activity, pay bills and transfer funds within your own account and to other Wells Fargo account holders. Other features include bank-finding capabilities depending on the types of services needed, so you can find a branch that specifically caters to your required services.
The Wells Fargo CEO (Commercial Electronic Office) Mobile app is available to corporate and business customers and allows users to monitor corporate account balances, approve outgoing payments, manage exception items, reset passwords, and view intraday account activity.
(Available on the iPad, iPhone, Android devices, Palm smartphones, and BlackBerry.)
USAA’s Mobile app lets users pay bills, transfer funds, trade stocks and deposit checks using the [email protected] program. Other features include a loan calculator, ATM and rental car locator, roadside assistance, and even insurance quotes using Auto Circle. Since USAA supports other insurance offerings, the app offers Home Circle, where users can search for properties for sale and rent, just in case you were in the real estate market looking to find your second or third home.
Also, check out real time stock quotes on your iPad through the USAA mobile app, and even view stock market activity and place a trade if you so fancy.
(Available on the iPad, iPhone, Android devices, Windows Phone 7, and BlackBerry.)
Six issues at the top of tax and finance leaders’ agenda
New Deloitte research reveals that tax leaders are under increasing pressure to add strategic value as companies accelerate business model transformation, from undergoing digital transformations to rethinking their supply chains or investing in green initiatives.
According to Phil Mills, Deloitte Global Tax & Legal Leader, to “truly deliver value to the business, the tax function needs to rethink its resourcing model and transform its technology infrastructure to create capacity and control costs”.
And the good news, according to Mills, is that tax and business leaders have more options at their disposal to achieve this.
Reflecting the insights of global tax and finance executives at global companies, Deloitte’s Tax Operations in Focus study reveals the six issues at the top of tax and finance leaders’ agenda.
Trend 1: Businesses seek more strategic counsel from tax
Companies are being pushed to develop new digital products and distribution channels and accelerate sustainable transformation and this is taking them into uncharted tax territory. Tax leaders say their teams must have the resources and skills to give deeper advisory support on digital business models (65%), supply chain restructuring (49%) and sustainability (48%) over the next two years. This means redrawing the boundaries of what tax professionals focus on, and accelerating adoption of advanced technologies and lower-cost resourcing models to meet compliance requirements and free up time.
According to Joanne Walker, Group Tax Director, BT Group PLC, "There’s still a heavy compliance load today, but the vision for the future would be that much of that falls away, and tax people become subject matter experts who help program the machine, ensure quality control, and redirect their time to advisory activity.”
Trend 2: Tipping point for resourcing models
Business partnering demands in the tax department are on the rise, but 93% of tax leaders say their department’s budget is remaining flat or falling. To ensure that the tax function can redefine itself as a strategic function at the pace that is required, leaders are choosing to move increasing amounts of compliance and reporting to a combination of shared service centers, finance departments, and outsourcing providers that have invested in best-in-class technology.
Trend 3: Digital tax administration is moving faster than expected
in addition to the rising focus of the corporate tax department partnering with their business counterparts, transformative changes to the way companies share tax information with revenue authorities is also creating an imperative to modernize operations at a faster pace. Nine in 10 (92%) respondents say that shifting revenue authority demands on digital tax administration will have a moderate or high impact on tax operations and resources over the next five years—and several heads of tax said the trend is moving faster than expected.
"It’s really stepped up in the last couple of years," says Anna Elphick, VP Tax, Unilever. "Tax authorities don't just want a faster turnaround for compliance but access into a company’s systems. It's not unreasonable to think that in a much shorter time than we expect, compliance will be about companies reviewing a return that's been drafted by the tax authorities."
Trend 4: Data simplification and lower-cost resourcing are top priorities
Tax leaders said that simplifying data management (53%) and moving to lower-cost resourcing models (51%) must be prioritized if tax is to become more proactive at delivering strategic insights to the business. Many tax teams are ensuring that they have a seat at the table as ERP systems are overhauled, which is paying dividends: 56% of those that have introduced NextGen ERP systems are now highly effective at supporting the business with scenario-modeling insights. Only 35% of those with moderate to low use of NextGen ERP systems said the same.
At Stryker, “we automated the source P&L process for transfer pricing which took a huge burden off of the divisions," says David Furgason, Vice President Tax. "Then we created a transfer price database to deposit and retrieve data so we have limited impact on the divisions. We are moving to a single ERP platform which will help us make take the next step with robotics.”
Trend 5: Skillsets are shifting
Embedding a new data infrastructure and redesigning processes are critical for the future tax vision. Tax leaders are aligned — data skills (45%) and technology process experience (43%) are ‘must have’ skills in a tax department of the future, but more traditional tax specialist knowledge also remains key (40%). The trick to success will be in tax leaders facilitating the way these professionals, with their different backgrounds, can work together collectively to unlock lasting value.
Take Infineon Technologies, which formed a VAT technology and governance group "that has the right knowledge about how to change the system to ensure it generates the right reports", according to Matthias Schubert, Global Head of Tax. "Involving them early was key as we took a greenfield approach, so we could think about what the optimal processes would look like and how more intelligent systems could make an impact
Trend 6: 2020 brought productivity improvements
Improved productivity (50%) and accelerating shifts to remote working (48%) were cited as the biggest operational benefits to emerge from COVID-19-driven disruption. But, as 78% of leaders now plan to embed either hybrid or fully remote models in the tax function long term, 34% say maintaining productivity benefits is a top concern. And, as leaders think about building their talent pipeline and strengthening advisory skill sets, 47% say they must prioritize new approaches to talent recognition and career development over the next two years, while 36% say new processes for involving tax in business strategy decisions must be established.