#United States #New York #Bank of America #CashPro #QR Code Sign-In

Bank of America Reports Significant Growth in QR Sign-Ins

In a groundbreaking development, Bank of America revealed that the QR code sign-in technology used on its CashPro® digital banking platform has experienced a remarkable 60% increase in adoption in the last year alone. As of now, more than two million instances of QR sign-ins have been recorded, indicating a strong shift towards this innovative method by corporate clients, particularly CFOs and treasurers.

The Rise of QR Sign-Ins

This surge is particularly impressive given the ongoing evolution of digital banking. CashPro is utilized daily by over 40,000 corporate and commercial clients worldwide to handle financial operations including treasury, trade, and credit management. The technology was introduced in 2022 and aims to enhance client experience while ensuring superior security.

Jennifer Sanctis, who leads the CashPro App and Personalized Technologies in Global Payments Solutions at Bank of America, noted, “Nearly every business client uses CashPro as the front door through which they view and take action on their Bank of America accounts.” This statement underscores the platform's critical role in the daily operations of businesses.

Enhancing User Experience

The QR sign-in process addresses two prevalent issues with traditional login methods:

• - Forgetfulness of Passwords: Users no longer need to memorize complex CashPro passwords. Instead, they can simply scan a QR code displayed on their computer screen using their mobile device.
• - Physical Tokens: Clients are relieved from carrying physical tokens. The CashPro App has integrated mobile token access, streamlining the whole login experience further.

Karen Davis, head of treasury and trade finance for oil and gas at Glencore, attested to the effectiveness of this technology, stating, “QR sign-in makes it simple to get into CashPro. I use the mobile token security that’s built into the process too, so I don’t need to worry about carrying around a physical token. It’s so quick and convenient. I don’t know why people wouldn’t use it.” Her endorsement highlights the real-world benefits experienced by users of this technology.

European Clients Leading the Way

Interestingly, the adoption rates are highest among European clients, who reportedly utilize the QR sign-in feature over double as frequently as those in other regions. This observation may indicate regional differences in technology adoption and user preferences.

Continuous Improvement and Recognition

Bank of America remains committed to enhancing the CashPro platform with innovative features and improvements. Recently, the bank introduced 'Push Authentication', designed to further simplify the mobile token experience for users. Such enhancements not only aim at improving customer satisfaction but also bolster security measures.

The platform has received numerous accolades. For instance, the 2024 Digital Transformation Benchmarking study by Crisil Coalition Greenwich highlighted CashPro's leadership in digital channels, maintaining a top score for the third consecutive year. Furthermore, in the 2025 Awards for Innovation and Excellence, CashPro was recognized as the Bank of the Year for Best Customer Experience and Best Mobile Technology Solution for Treasury.

About Bank of America

Bank of America Corporation stands as one of the leading financial institutions worldwide, providing an extensive range of banking services to individual consumers, small businesses, and large corporations. The bank is renowned for its convenience, servicing approximately 69 million consumers in the United States through nearly 3,700 retail financial centers and about 15,000 ATMs. Moreover, around 59 million verified digital users enjoy the seamless digital banking experience offered by the bank.

As a global leader in wealth management and corporate investment banking, Bank of America continues to tirelessly innovate its offerings, ensuring clients receive the highest standard of service. The corporate stock is publicly traded on the New York Stock Exchange under the symbol BAC, attesting to its substantial presence in the financial market.

For more news about Bank of America, including updates on dividend announcements and other corporate information, visit their online newsroom.

Conclusion

The growth in QR code sign-ins for the CashPro platform reflects not just a trend but a significant advancement in how businesses interact with digital banking. As more companies embrace this secure, efficient method, it showcases the effectiveness of Bank of America’s efforts to innovate and enhance user experiences across its digital platforms.