Bank of America Merrill Lynch (BAML) has launched 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 BAML 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 BAML. “This is the next generation of online banking for commercial and corporate clients. This technology will allow us to provide targeted solutions for individual business segments,” adding that clients will be able to personalise 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.
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