Bank of America Merrill Lynch Adds New Online Corporate Banking Apps

Bank of America Merrill Lynch has added three applications to its global treasury management and online banking channel, CashPro Online. The bank is now offering CashPro Payments, CashPro InformationReporting and CashPro Mobile to its new commercial and corporate clients and will be transitioning its existing clients to the applications over the next few months.

CashPro Payments is a global payments hub that facilitates several types of payments, including wire transfers and ACH. The e-payment solution operates across countries, currencies and payment types.

CashPro InformationReporting is a business intelligence solution that helps commercial and corporate banking customers analyze and research financial transactions. The application can provide high-level transaction and balance details for all accounts worldwide in one report, as well as customized reports.

CashPro Mobile allows clients to take actions such approving payments and authorizing account access via a mobile device. When designing this mobile application, the bank consulted a client advisory panel to find out which functions are most important for mobile usage.

"Since its introduction two years ago, CashPro Online has transformed the way our clients interact with us," said Cindy Murray, head of Global Treasury Product Infrastructure, Platforms and eCommerce at Bank of America Merrill Lynch, in a release announcing the new products. "Our introduction of new payments, information reporting and mobile services provides a quantum leap forward in how CashPro Online can help clients spend less time gathering basic bank account data and more time using that data to make business critical decisions."