October 15, 2012
Reporters May Contact:
Will Wilson, Bank of America Merrill Lynch, 1.980.388.3360
Bank of America Merrill Lynch Completes Information Reporting Transition
Corporate Clients Also Benefit from Enhancements to Key CashPro® Online Module
NEW YORK – Bank of America Merrill Lynch today announced it has completed the transition of all existing information reporting clients from various older systems to its new CashPro Information Reporting system with industry leading capabilities. These clients are now able to utilize the benefits of the dynamic reporting functionality that BofA Merrill introduced to new clients last year.
Information Reporting is one of the key modules of CashPro® Online, the portal for commercial and corporate clients that makes transacting and tracking funds easier and more convenient. More than 250,000 individual users now have access to CashPro Information Reporting and are generating more than three million reports per month, a number expected to increase as recently transitioned clients realize the system’s efficiency and simplicity.
“CashPro Information Reporting provides our clients an easy way to quickly retrieve cash flow information in a variety of customized reporting formats, allowing them to spend more time using the information to make strategic decisions,” said Cindy Murray, head of Global Treasury Product Infrastructure, Platforms and eCommerce. “We have designed CashPro Information Reporting based on regular client feedback over the past three years and are pleased to now have all our information reporting clients on board.”
Among the features of CashPro Information Reporting are:
- A new dashboard that provides clients easy one-click access to balances and reports.
- The ability for clients to create customized reports and schedule those reports to be delivered via e-mail.
- Expanded research that allows plain text searches on all accounts – even those at other banks designated by the client – for an extended period of time, enabling clients to find information in seconds.
- Expanded report formats allowing clients easy integration into their treasury management and working capital solutions.
- A robust report viewer that provides clients sorting and searching capability, making working with their reports more streamlined.
“We believe CashPro Information Reporting is unsurpassed in today’s treasury marketplace,” Murray said. “We will continue to solicit suggestions from our clients for additional features. Since we are now operating one information reporting system that is state of the art, we’ll be able to implement enhancements more quickly than on multiple older systems.”
Bank of America
Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 56 million consumer and small business relationships with approximately 5,600 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and member of FINRA and SIPC, and, in other jurisdictions, a locally registered entity. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
Copyright 2012 Bank of America Corporation.
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