Two million and counting: BofA's CashPro® QR sign-in adoption jumps 60% - Trade Treasury Payments

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Two million and counting: BofA’s CashPro® QR sign-in adoption jumps 60%

Bank of America’s CashPro® platform has recorded a 60% increase in QR sign-in adoption over the past year. The digital banking platform, which serves more than 40,000 corporate and commercial clients globally, has now surpassed two million QR code authentications since its introduction in 2022.

The rapid adoption showcases growing demand for more secure, efficient authentication methods in corporate treasury operations. 

BofA’s QR sign-in eliminates the challenge of remembering CashPro passwords and carrying physical tokens for verification. Instead, a unique, time-sensitive QR code appears on the user’s desktop screen. A scan with the CashPro mobile app instantly authenticates the user, without any password authentication. As a substitution for carrying tokens, users can access mobile tokens for client sign-ins, coupled with multi-factor authentication. 

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

European clients have demonstrated particularly strong engagement with the technology, utilising the QR sign-in capability more than twice as frequently as clients in other regions worldwide.

Karen Davis, Head of Treasury and Trade Finance for oil & gas at Glencore, and a member of BofA’s UK CashPro Board, a group of clients who provide direct input on the platform’s functionality and future build out, started, “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.”

Bank of America’s CashPro platform has earned recognition from industry authorities, including:

• 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), and Best Solution Innovation – Data Analytics (for CashPro Insights)

Bank of America is focused on enhancing the CashPro platform through the regular introduction of innovative features designed to improve client business outcomes. Additionally, BofA recently deployed Push Authentication technology, which further streamlines the mobile token experience.