Santander Bank is offering commercial customers their own mobile banking app.
Businesses owners can use the app to deposit up to $15,000 per day without visiting a branch as well as to transfer funds between work and personal accounts. Additional features include the "Quick Balance," which lets customers check their balances in up to three Santander accounts without having to log in.
Banks are increasingly looking to bring the same kind of tech innovations to business customers that are common on the retail side. Santander, based in Boston, said it piloted the app in July with nearly 250 business customers.
"For business owners time is money, so their banking experiences need to be simple and convenient," Amir Madjlessi, the $85 billion-asset Santander's managing director of business banking, said in a news release Thursday. The bank has pledged "to listen to our customers and give them the banking tools and options that are most useful in their professional and personal lives," he said.
Santander also announced updates to its consumer mobile banking app such as a fingerprint log-in option for customers using Touch ID technology.