Bancolombia Launches New App for Small Businesses

Bancolombia has released a new app for small and mid-sized enterprise (SME) clients that aims to streamline operations and allow users to do more business digitally. Called “Bancolombia App Empresas” — or Bancolombia Business App — the app allows customers to conduct an array of operations that were previously more difficult to perform via digital platforms.

According to the company, customers can use the app to: approve payroll instantly through any approved device, make payments to suppliers, transfer funds between various Bancolombia accounts, authorize customer bill payments, and check outstanding balances for products authorized by third parties.

“This application will open avenues unexplored in Colombia for SMEs and large enterprises,” said Carlos Andres Rodriguez, director of cash management at Bancolombia. “This is an efficient and innovative initiative that allows Bancolombia to make life easier for its customers. The idea is to simplify the interaction between companies and the bank through a mobile channel that offers access from anywhere.”

Colombia’s largest bank says that it had been encouraged by adoption rate of its previous app among consumer clients and believed that this new offering was the next step to further extend its digital services to more clients.

The small business app is available to both Apple devices through the App Store and on Google Play for those using Android devices. In the first few days, Bancolombia reported that nearly 6,000 users had already begun using the new app.