BofA announces CashPro® Online banking service for corporates

 Bank of America Merrill Lynch today announced the launch of its new CashPro® 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.