Bank of America Merrill Lynch Launches CashPro(R) Online
SAN FRANCISCO, Oct. 5 /PRNewswire/ — Bank of America Merrill Lynch today announced the launch of its new CashProÃ‚® Online banking channel, which features intuitive technology that allows commercial and corporate clients to move beyond transactions to focus on their core businesses.
The result of a multi-million dollar investment that addresses the needs and preferences of clients, CashPro Online is expected to be available starting in November and will provide a single point of access to global treasury, debt, cash management, investments, trade finance, foreign exchange services and other financial capabilities.
Other planned benefits include a new payments hub that will allow Bank of America Merrill Lynch to integrate common payments processes, react more swiftly to evolving standards and regulatory changes, and leverage payments capabilities to increase efficiency, said Cindy Murray, Global Corporate Banking eCommerce executive at Bank of America Merrill Lynch.
“This is the next generation of online banking for commercial and corporate clients,” Murray said. “With its intuitive design and focus on integrating financial information to improve work flow, CashPro Online can empower our clients beyond transactions, helping them increase productivity and profitability.”
CashPro Online is designed to give businesses access to their financial products anytime and from anywhere. It also has features providing for real-time feedback and instant client support through e-mail, chat, and mobile alerts, and its use can be tailored to specific company sizes and industries.
“This technology will allow us to provide targeted solutions for individual business segments,” Murray said, adding that clients will be able to personalize their preferences using CashPro Online’s dashboard.
CashPro Online was developed with input from an advisory council of 19 clients. It is expected to be available beginning in November for new clients and existing clients who used a previous version of CashPro. Remaining clients will move to the new channel in 2010.
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. The company’s corporate and investment banking, and sales and trading businesses operate under the Bank of America Merrill Lynch brand. Bank of America Merrill Lynch focuses on middle-market and large corporations, institutional investors, financial institutions and government entities. It provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, research, and liquidity and payments management. Bank of America Merrill Lynch serves clients in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and nearly 96 percent of the Fortune Global 500.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed
CashProÃ‚® is a registered trademark of Bank of America Corporation.
SOURCE Bank of America Merrill Lynch