QR Sign-Ins Surge 60% on BofA's CashPro® Platform

Rhea-AI Summary

Bank of America's CashPro® digital banking platform has seen a 60% increase in QR sign-in adoption over the past year, surpassing two million uses. The platform, which serves over 40,000 corporate and commercial clients globally, introduced QR code authentication in 2022 to enhance security and user experience. The technology eliminates the need for passwords and physical tokens by utilizing mobile phone scanning and biometric authentication. European clients show the highest adoption rate, using the feature more than twice as frequently as other regions. CashPro has received notable recognition, including the top position in Crisil Coalition Greenwich's 2024 Digital Transformation Benchmarking study and multiple awards from Treasury Management International in 2025 for innovation and excellence.

Positive

• 60% growth in QR sign-in adoption indicates strong user acceptance and platform success
• Serves over 40,000 corporate and commercial clients globally
• Enhanced security through biometric authentication and elimination of physical tokens
• Received top industry recognition including No. 1 score for Digital Channels leadership

Negative

• None.

News Market Reaction – BAC

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On the day this news was published, BAC declined 0.18%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Convenience, Security and Integration with Biometrics Drive Growth in Adoption of QR Sign-In Technology

NEW YORK and LONDON and HONG KONG, May 20, 2025 /PRNewswire/ -- Every day, thousands of CFOs and treasurers use QR code technology to sign-in to CashPro, Bank of America's digital banking platform accessed by more than 40,000 corporate and commercial clients around the world to manage their treasury, trade and credit operations and perform self-service requests. The identity and authentication technology, introduced in 2022, recently surpassed two million uses and saw 60% growth in adoption over the last year¹.

"Nearly every business client uses CashPro as the front door through which they view and take action on their Bank of America accounts," explained Jennifer Sanctis, head of CashPro App and Personalized Technologies in Global Payments Solutions at Bank of America. "QR Sign-In makes that entry point even more secure and further enhances the client experience."

The QR sign-in experience improves two key pain points associated with traditional login processes:

• There's no need to remember the CashPro password. Instead, clients use their mobile phone to scan the QR code that appears on the computer screen and sign in using biometrics.
• There's no need to carry a physical token. Instead, users can use the CashPro App to access the mobile token, which is integrated into the sign in flow for clients with multi-factor authentication.

The popularity of this technology is highest among clients in Europe who access it more than twice as frequently as clients in other regions. 

Karen Davis, head of treasury and trade finance for oil & gas at Glencore, is a member of the bank's UK CashPro Board, a group of clients who provide direct input on the platform's functionality and future build out. Davis is a proponent and frequent user of QR sign-in.

"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," Davis said.

Bank of America regularly enhances the CashPro platform through innovative new features and functionality that improve business outcomes for clients. Most recently, the bank launched Push Authentication that further simplifies the mobile token experience.

Industry recognition
Bank of America's CashPro platform routinely receives third-party recognition. Notable highlights include:

• The 2024 Digital Transformation Benchmarking study by Crisil Coalition Greenwich, No. 1 (tied) score for overall leadership in Digital Channels for the third consecutive year, with the bank being the sole leader in 2023 and 2022.
• 2025 Awards for Innovation and Excellence, Treasury Management International Bank of the Year for Best Customer Experience (for CashPro Search with Investigations) Best Mobile Technology Solution for Treasury (for Security Insights on the CashPro app) Best Solution Innovation – Data Analytics (for CashPro Insights).

Bank of America

Bank of America is one of the world's leading 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. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, 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 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact:

Louise Hennessy, Bank of America
Phone: 646-858-6471
Louise.hennessy@bofa.com

Footnotes
¹ Full year 2024 vs. full year 2023

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SOURCE Bank of America Corporation

FAQ

What is the growth rate of QR sign-ins on Bank of America's CashPro platform in 2024?

Bank of America's CashPro platform experienced a 60% growth in QR sign-in adoption in 2024 compared to 2023, surpassing two million uses.

How many clients use Bank of America's CashPro platform?

CashPro serves more than 40,000 corporate and commercial clients worldwide who use it to manage their treasury, trade and credit operations.

What are the main benefits of CashPro's QR sign-in technology?

The main benefits include eliminating the need for passwords, replacing physical tokens with mobile authentication, and enhanced security through biometric verification.

Which region shows the highest adoption of BAC's CashPro QR sign-in feature?

European clients show the highest adoption rate, using the QR sign-in feature more than twice as frequently as clients in other regions.

What recent awards has Bank of America's CashPro platform received?

CashPro received the No. 1 score in Crisil Coalition Greenwich's 2024 Digital Transformation Benchmarking study and multiple 2025 Treasury Management International awards for innovation and excellence.