Bank of America Merrill Lynch Adds Document Exchange, E-Signature to CashPro® Assistant

Enhancements Streamline Common Processes for Commercial, Corporate Clients

Monday, November 5, 2018 11:00 am EST

Bank of America Merrill Lynch today announced its upcoming addition of document exchange and e-signature capabilities in CashPro® Assistant, an online bank administration tool that helps commercial and corporate clients more easily conduct standard account management transactions as well as access and analyze their banking information.

Exchanging documents and enabling electronic signing over the authenticated CashPro platform simplifies a cumbersome paper-based process. Examples of documents to be exchanged and signed include know-your-customer, legal agreements, account opening and service forms.

“CashPro Assistant is the center for all data, support and account administration for our clients globally,” said Hubert J.P. Jolly, head of financing and channels for Global Transaction Services (GTS) at BofA Merrill. “With the introduction of document delivery and electronic signing over CashPro Assistant, clients will benefit from the ability to exchange larger attachments and ease of electronic signing, through a channel with security controls to which they are accustomed.”

With the addition of document exchange and e-signature, BofA Merrill clients will be able to view and sign deposit, treasury and trade documents directly in their CashPro User Document page. With the new enhancements, they can:

  • Receive and sign documents directly in the CashPro Assistant Document Inbox – no need to separately login to secure email to receive important bank documents.
  • Download, upload, save, share and print important documents to simplify document review, access and the overall CashPro experience.

 

The addition of document exchange and e-signature in CashPro Assistant is planned by year end for the U.S. and Canada. E-signature is already available directly, outside of CashPro Assistant, for deposit, treasury and trade documents in the U.S. and Canada.

“The benefits of electronic signing are already being realized with significant reduction in account setup times,” said Tom Durkin, head of digital channels for BofA Merrill GTS. “Adding it along with document exchange to CashPro Assistant will make it even more convenient for our clients.”

BofA Merrill’s GTS business provides comprehensive global treasury solutions across the breadth of the working capital cycle, including liquidity management, payments and receipts, commercial card, foreign exchange and trade and supply chain finance. With a history spanning more than 230 years, GTS supports thousands of clients ― small businesses, mid-size companies, large corporations, financial institutions and public-sector entities ― in more than 200 countries and 140 currencies.

 

Bank of America
Bank of America is one of the world’s leading 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 67 million consumer and small business clients with approximately 4,400 retail financial centers, approximately 16,100 ATMs, and award-winning digital banking with more than 36 million active users, including nearly 26 million mobile users. Bank of America is a global leader in wealth management, 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 across the United States, its territories and more than 35 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 and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.

Investment products offered by Investment Banking Affiliates:

Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

© 2018 Bank of America Corporation. Investment products offered by Investment Banking Affiliates:

Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

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Reporters May Contact:
Louise Hennessy, Bank of America, 1.415.913.3641
louise.hennessy@bankofamerica.com