U.S. Bank business customers now have more on-the-go banking options through U.S. Bank Mobile SinglePoint: a new tool designed to help business owners check the status of their accounts from any location.
The service will be rolled out as part of the U.S. Bank Mobile SinglePoint®, which is is basically an online cash management system for small businesses and local government entities. Through the tool businesses have the ability to access their accounts, transfer funds between accounts, stop payments and send and receive payments using a multiple user control.
A statement released by U.S. Bank (NYSE:USB)—the tenth largest U.S. Bank by assets—indicated Mobile SinglePoint uses the same security standards and policies as SinglePoint and SinglePoint Essentials, meaning that all communications are encrypted while banking data and credentials are never stored on business customers’ mobile devices.
“Mobile SinglePoint’s design for on-the-go users lets them access all the cash management tools they need when they are away from their desk or office,” said the bank’s vice president and mobile channel manager for the U.S. Bank Global Treasury Management Group Michelle Darsow in a statement. “They can view account balances, transfer funds, approve time-sensitive payments, reset a user’s password, make positive pay decisions and view check images through their mobile device.”
The new product is just one of several U.S. Bank has rolled out to make mobile banking easier for customers. This past August the bank began integrating alerts to both consumer and business account customers that provide information of suspicious or irregular activity or when transactions that post either meet or exceed preset amounts. The service is available through the U.S. Bank Retail Payment Solutions and can be accessed by signing up online through the bank’s website.