BANK OF AMERICA
Bank of America Merrill Lynch Global Transaction Services (GTS) has implemented its CashPro Accelerate® reporting solution for China Airlines, Taiwan’s largest international carrier. The implementation comes as Taiwan-based corporations continue to embrace next generation technology solutions for cash visibility purposes, consistent with Bank of America Merrill Lynch treasury research.
CashPro Accelerate provides numerous benefits for the airliner’s treasury management operations locally and internationally. The solution empowers the company to optimize cash visibility across its global branches, enhancing both treasury controls and forecasting functions. CashPro Accelerate also simplifies forecasting processes by benchmarking cash flow forecasts and pinpointing variances from projected cash flows. Furthermore, CashPro Accelerate provides the client with centralized reporting, allowing the online management and analysis of account information and the creation of customized spreadsheets.
”Progressive clients in Taiwan are demanding innovative solutions and advisory services that enhance overall cash visibility, while also consolidating treasury controls centrally. CashPro Accelerate delivers on the sophisticated treasury requirements in this evolving market and continues to penetrate the Taiwan corporate space,” said Kitty Yen, head of Corporate Sales for Taiwan, Global Transaction Services.
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 analyze account information empowered by the flexibility of the Excel format and the security and reliability of Bank of America Merrill Lynch’s global platforms.
The implementation of CashPro Accelerate by China Airlines is consistent with the results on the inaugural Bank of America Merrill Lynch-SunGard Asia Pacific Treasury Management Barometer. According to Taiwan-based treasurers, 72 percent identify cash visibility as a primary focus in the next 12 to 24 months, compared to a weighted average of 60 percent in Asia Pacific.
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. We serve approximately 51 million consumer and small business relationships with approximately 5,200 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users and more than 14 million mobile 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 3 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 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 2013 Bank of America Corporation. All rights reserved. Bank of America, Merrill Lynch, Broadcort and their logos are trademarks of Bank of America Corporation and/or its affiliates.
About China Airlines
China Airlines is the largest airline in Taiwan providing domestic and international air transportation for passengers and cargo freight throughout cities in Europe, America, Asia and Australia. With 36 subsidiaries covering aviation, ground services, logistics, air cargo, catering, bulk laundry, information network and tourism business. China Airlines is listed on the Taiwan Stock Exchange (TWSE 2610).
Visit the Bank of America newsroom for more Bank of America news.
Reporters May Contact:
Andrew Peck, Bank of America Merrill Lynch, 852.2161.7129