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Bank of America Continues to Be Leader in Small Business Digital Banking

Surpasses 1 Million Small Business Mobile Users; Keynote Systems Ranks Bank of America No. 1 in Small Business Online Banking

Tuesday, August 20, 2013 10:05 am EDT

Dateline:

CHARLOTTE, N.C.

Public Company Information:

NYSE:
BAC
"They are in their cars and trucks, on factory floors, shopping for supplies and visiting clients on-site. Bank of America’s Mobile App has kept pace with their demanding schedules by offering full access to their finances right in the palm of their hand."

Bank of America today announced that it has surpassed 1 million small business mobile users. Mobile Banking provides small business owners the convenience and flexibility of managing their finances while on the go.

“Today’s small business owners aren’t behind desks all day, and many don’t even have a desk,” said Mary Bintz, Small Business Sales executive at Bank of America. “They are in their cars and trucks, on factory floors, shopping for supplies and visiting clients on-site. Bank of America’s Mobile App has kept pace with their demanding schedules by offering full access to their finances right in the palm of their hand.”

“Reaching this new milestone validates our commitment to meet the banking needs of small business clients and the customers they serve,” said Marc Warshawsky, senior vice president and Digital Product executive at Bank of America. “The number of small businesses now using Bank of America’s Mobile App is a testament to today’s growing demand for better integration of technology and greater online, mobile and self-service banking options.”

The app allows small business owners to manage their finances from a mobile phone or tablet to securely check balances for any Bank of America account, make single or recurring bill payments without stamps or envelopes, transfer balances between accounts to pay suppliers and employees, ensure that monthly payments from suppliers have posted, and track recent posted and pending transactions.

The remote deposit function allows clients to take a picture of the front and back of a check using their device’s camera from anywhere, saving a trip to the bank or ATM. Mobile App Alerts give small business owners peace of mind with real-time updates to their accounts, such as a low balance or an eBill due. Users can access their accounts from a wide variety of devices via app versions developed specifically for the iPhone®, iPod touch®, Android™ phone, Windows® phone, Blackberry®, iPad®, Android™ tablet or Kindle Fire™.

As a testament to their service to small business owners, Bank of America recently ranked first for Small Business Online Banking by Keynote Systems’ 2013 Small Business Scorecard. The bank had an overall score of 87 and was number one in three major categories, including Functionality, Ease of Use, and Privacy and Security. The scorecard is published annually and focuses on the online banking needs of U.S. small businesses under $2 million in revenue.

Bank of America has a nationwide network of banking centers and professionals that are committed to its more than 3 million small business clients and their local communities. The resources of Bank of America help small business owners succeed by offering convenient interactions and comprehensive banking, credit and investing solutions. The personal connection of small business bankers, client managers and practice solutions specialists contribute to the success of small businesses and their communities by making expertise more accessible. Through June of this year, Bank of America has extended more than $5 billion in new credit to small businesses – an increase of 26 percent over the same period last year.

Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,300 retail banking offices and approximately 16,350 ATMs and award-winning online banking with 30 million active users and more than 13 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

© 2013 Bank of America Corporation. All rights reserved.

For more Bank of America news, visit the Bank of America newsroom.

www.bankofamerica.com

Contact:

Reporters May Contact:
Don Vecchiarello, Bank of America, 1.980.387.4899
don.vecchiarello@bankofamerica.com
Tara Burke, Bank of America, 1.203.292.6590
tara.a.burke@bankofamerica.com