Bank of America Merrill Lynch has introduced Apple Watch capabilities into the CashPro ecosystem. With this development, CashPro Mobile users will be able to pair their Apple Watch with their mobile token and generate a one-time password. The bank says this delivers greater convenience for the following reasons:
- Making the security of a token available directly from Apple Watch.
- Eliminating the need to keep a physical token.
- Accelerating the ability to securely approve transactions.
Companies use the CashPro platform to manage their everyday treasury and lending needs. CashPro has more than 487,000 active users among the bank’s corporate, commercial, and business banking clients. To generate the token, the CashPro app must be installed on Apple Watch.
“Many people still carry their physical token on a key chain along with other banking tokens, which are bulky,” said Tom Durkin, head of Global Transaction Services (GTS) Channels at Bank of America Merrill Lynch. “Now, executives will no longer have to worry about forgetting to take their physical token when they are on the go, travelling for work or vacation. They’ll have everything they need on their iPhone and Apple Watch.”
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Working Capital: Lessons from ACT Conference
Continuous, tedious and boring WCM programmes, produce so much more than glamorous FX and hedging, etc.