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Bank of America Merrill Lynch Unveils CashPro Online

Expected to provide a single point of access to global treasury, debt, cash management, investments, trade finance and foreign exchange services

Bank of America Merrill Lynch, a marketing name for the global banking and global markets businesses of Bank of America, has unveiled its new CashPro Online banking channel. It features intuitive technology that allows commercial and corporate clients to move beyond transactions to focus on their core businesses.

CashPro Online is expected to be available beginning in November 2009. It is expected to provide a single point of access to global treasury, debt, cash management, investments, trade finance, foreign exchange services and other financial capabilities.

Cindy Murray, Global Corporate Banking eCommerce executive at Bank of America Merrill Lynch, said that a new payments hub 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.

Reportedly, CashPro Online is designed to provide 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.

Ms. Murray said: “This is the next generation of online banking for commercial and corporate clients. 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. This technology will allow us to provide targeted solutions for individual business segments.”

CashPro Online is expected to be available in November 2009 for the new clients and existing clients who used a previous version of CashPro. Remaining clients will move to the new channel in 2010, said the company.