Bank of America Merrill Lynch Global Transaction Services (GTS) today announced that CashPro Accelerate is now available for treasury management clients in 12 markets in Asia Pacific – Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand.

Combining Microsoft® Excel with XML technology, CashPro Accelerate enables clients in Asia Pacific to accurately and efficiently manage global cash positions. The key benefits from the solution include streamlined cash position reporting, reduced manual processing, enhanced reconciliation functions, automated cash journal entries, account management across various banks and customized data templates.

In tandem with the official launch of CashPro Accelerate in Asia Pacific, Bank of America Merrill Lynch GTS today also announced the solution implementation for POSCO Investment Co. Limited (Hong Kong), a subsidiary of POSCO, South Korea's largest steel manufacturer. The implementation of CashPro Accelerate by POSCO Investment Co., which serves as a pilot client, complements its existing treasury management relationship with the bank in Asia Pacific.

CashPro Accelerate integrates with CashPro® Online, Bank of America Merrill Lynch's web-based banking and financial management solution, to retrieve bank account data and provide around the clock access to information. The solution works in tandem with CashPro Online's Information Reporting module, through which clients can work online to access and analyse account information.