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BofA Merrill Launches Three CashPro(R) Online Modules

The three new modules are:
• CashPro Payments- a global payments hub with a payment infrastructure that unifies the connectivity for clients around the globe
• CashPro InformationReporting - helping clients actively analyze and research their financial transactions and position
• CashPro Mobile- enables clients to take action on their accounts while on the go.

Through CashPro Payments, clients can initiate several different types of payments, such as wire transfers, automated clearinghouse transactions and internal transfers, through a single application. User-defined fields increase the amount of information that may be included in the payment to facilitate payment application and reconciliation. Beneficiary advising enables users to generate an e-mail to the beneficiary from within the payments service to provide additional remittance information.

With CashPro Information Reporting, clients can obtain balance, summary and high-level transaction details to manage cash positions on a previous-day or current-day basis and to post to general ledger systems. They can retrieve information for virtually all accounts worldwide, including at other banks, in one place and on the same report. Research tools help clients search for transactions across their accounts. Customizable reports enable clients to manipulate the data into the format most helpful to them.

CashPro Mobile leverages the technology platform of Payments and Information Reporting to provide clients streamlined access to a critical set of CashPro Online capabilities. Clients select which accounts they want to view and can take action, such as approving payments and account user access authority, while on the go.

The powerful functionality in these three modules duplicates corporate treasury management systems. The expansion of bank portal functionality could reach a point when some corporate treasury departments will not need a corporate treasury management system.

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