Need to Move $1.6 Billion? Bank of America Has an App for That

From bnnbloomberg.ca

Bank of America’s corporate clients want to make payments the same way they handle their personal money -- by mobile phone. This summer, an international electronics company completed a $1.6 billion payment that way, the biggest transaction ever on the bank’s CashPro app, according to Bank of America Corp. The platform, which is geared toward corporate treasury departments and smaller companies, has 500,000 online users and was used to approve $144 billion in payments in the 12 months through September. That’s almost double the rate from a year earlier, according to the bank’s third-quarter earnings ... (full story)